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The Diocese proposed selling approximately 100 acres in Galt, California, to John Chandler or his assignee for $1.7 million. The debtor says the property has no outstanding liens or interests and seeks approval of the transaction, broker commission and waiver of the 14-day closing stay under the Galt property sale motion.
Competing bidders must complete diligence, accept the purchase agreement, and submit proof of funds and a $75,000 deposit by August 5—seven days before the August 12 sale hearing. Bidding would advance in increments of at least $25,000, while objections are due July 29. The live overbid window matters because it could increase recoveries from an asserted unencumbered asset as the Diocese works toward its recently extended August 31 plan-filing deadline under the plan-deadline extension order.
The court extended the deadline for the Roman Catholic Bishop of Sacramento to file a Chapter 11 plan from July 15 to August 31, 2026. The extension order grants a joint request by the debtor and Official Committee of Unsecured Creditors, preserving another six weeks for mediation rather than forcing competing plans and associated litigation.
The joint application says the parties are not at an impasse, but have not reached a final resolution capable of supporting a consensual plan. The mediator is working toward agreement between the debtor and committee and settlements with remaining non-settling insurers. Agreements in principle were reached in May with Interstate Fire & Casualty, National Surety, certain Lloyd’s underwriters, and Hartford Accident and Indemnity, but they have not yet produced a comprehensive resolution. The August 31 deadline is now the principal near-term marker for whether negotiations can yield a consensual survivor-claims and insurance framework or the case shifts toward competing-plan litigation.
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