Cathedral shortfall $50m -

Cathedral shortfall $50m

Friday, October 12th, 2012

About half of Christchurch Cathedral’s $40 million insurance payout will be spent before the rebuild begins, court documents show.

Papers obtained by The Press from a High Court challenge brought by the Great Christchurch Buildings Trust (GCBT) against the building owner, the Church Property Trust (CPT), shows the Anglican diocese expects to retain just $20m from its insurance payout from ACS.

It would leave the diocese facing a minimum $50m shortfall, based on its own estimates, to restore or re build the central-city landmark.

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Tags: Christchurch Anglican Cathedral, Christchurch earthquake

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