MINNESOTA
Minnesota Public Radio
Martin Moylan Feb 24, 2015
The bankruptcy of the Archdiocese of St. Paul and Minneapolis takes another step forward Tuesday afternoon with the first meeting of the creditors committee.
Citing clergy-abuse lawsuits and the costs of future claims, the archdiocese filed for bankruptcy in January. Its Chapter 11 filing requires alleged victims to file claims in federal court as creditors.
So far, five people — all alleged victims of clergy sex abuse &,dash; have been named to the committee. Payouts to them and other creditors will depend greatly on what assets the archdiocese has available for compensation — a factor that likely will set in motion a detailed search for church assets.
The archdiocese and attorneys for abuse victims hope that insurance will cover a large portion of abuse claims that will be settled through the bankruptcy process, with church insurers potentially providing $100 million or more.
Note: This is an Abuse Tracker excerpt. Click the title to view the full text of the original article. If the original article is no longer available, see our News Archive.