Shock as major church is placed in receivership
The Presbyterian Church of Queensland's legal entity has been placed in receivership.
The church said it had applied to the Supreme Court of Queensland to place its legal entity - PCQ a Letters Patent Entity (PCQ) - into receivership.
Moderator of the PCQ, Reverend Dr Philip Strong, said the decision to enter receivership was regrettable but necessary to ensure that PCQ can continue providing important services to the Queensland community for the long term.
"While our team has worked hard for more than a year to restructure the operations, historical contractual arrangements have made this extremely challenging. While making the decision to appoint a receiver is a difficult one, we believe it is the best next step," Reverend Dr Strong said.
"I know that today's announcement will be unexpected for our congregations, employees, residents, students and the community. Our priority has always been and will continue to be their wellbeing."
PwC Australia's (PwC) Michael Owen and Phil Carter were appointed receivers of PCQ's legal entity by the Supreme Court of Queensland late in the evening of 12 May 2021.
"Our immediate priority is to work closely and constructively with PCQ and its stakeholders while we undertake a review of the entity's affairs pursuant to the order of the Court," Mr Owen said.
"We plan to continue to operate the services that PCQ provides across the community on a 'business as usual' basis while we conduct this review, and we will update stakeholders further once this initial assessment has been completed."
PCQ's aged care facilities, schools, congregations and other community services will continue operating while the receivers gain a better understanding of the organisation's position.
Together with the congregations, PCQ's ministries include PresCare, a provider of residential aged care and Presbyterian ministry services, the Queensland Theological College (QTC) and Fairholme College, a school in Toowoomba.
PresCare recently contracted the sale of its residential aged care facilities in Maryborough and Rockhampton to the Apollo Care Alliance.
Originally published as Shock as major Qld Christian church placed in receivership