The PTL ministry is on the auction block again after a federal bankruptcy judge rejected two offers and threatened to liquidate the evangelical empire if a sale is not completed by Dec. 13.

"We're not losing sight of the promised land," said Sam Johnson, president of Heritage Ministries at PTL, responding to Thursday's decision by Judge Rufus Reynolds to reopen bidding on the ministry's assets.Thursday's auction was expected to close the books on the ministry that Jim and Tammy Bakker built before a sex-and-money scandal forced it to seek Chapter 11 bankruptcy protection from its creditors.

Reynolds said the offers presented by the only two qualified bidders - Canadian businessmen Stephen Mernick and Peter Thomas - failed to meet the earlier financial conditions he set.