We are gratified by Judge Bowick’s decision that invalidates the Hollister transaction. This judgment confirms Judge Chalfant’s previous ruling that the sale of the Institute of the Immaculate Heart of Mary Sisters’ property to Dana Hollister was “improper and invalid.” Today, the court agreed with each of the archdiocese’s arguments. As a result, the court’s decision cancels the Hollister transaction.
The care and well-being of all five sisters has always been our primary concern. The archdiocese was forced to take legal action to protect all the five sisters from being taken advantage of by the Dana Hollister transaction in which Hollister improperly took possession of their property for only $44,000 in cash and a contingent promissory note. The Institute continues to be under contract to sell the property to Katy Perry.
The archdiocese will continue to provide pastoral outreach and care to the sisters. We will take any necessary steps to continue to protect the sisters and ensure that any transaction on the sale of the property will provide them with immediate funding for their care.