Archdiocese bankruptcy filing lists $45M assets, $15.9M liabilities

Pioneer Press

By Amy Forliti
Associated Press
POSTED: 01/30/2015

The Roman Catholic Archdiocese of St. Paul and Minneapolis has assets totaling more than $45 million — including about $11 million in real estate — according to a schedule of assets and liabilities filed Friday in U.S. Bankruptcy Court.

The filing, required as part of the bankruptcy process, provides the public with the most detailed picture yet of the archdiocese’s financial situation. But experts caution the numbers are a merely a starting point for creditors, and could change.

The archdiocese filed for Chapter 11 reorganization in mid-January, becoming the 12th U.S. diocese to seek reorganization in the face of sex abuse claims. Archdiocese leaders have said bankruptcy is the best way to fairly compensate victims of clergy sexual abuse while allowing the archdiocese to continue the Catholic Church’s mission.

Archbishop John Nienstedt said in a statement that Friday’s disclosures are “necessary steps of transparency and accountability and essential in finding some measure of justice for those harmed by clergy sexual abuse.”

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