MNNESOTA
Star Tribune
Article by: JENNIFER BJORHUS , Star Tribune Updated: February 2, 2015
The archdiocese holdings include churches, schools and the archbishop’s residence.
The Archdiocese of St. Paul and Minneapolis says it owes creditors $15.9 million and has assets of at least $45.2 million, according to a bankruptcy filing.
The tally of assets is likely much larger since the archdiocese lists the current value of its interest in key pieces of real estate, such as the Cathedral of St. Paul and the land under three Catholic high schools, as “unknown” and puts those estimates in notes.
Filed late Friday in U.S. Bankruptcy Court in Minnesota, the schedules offer a rare glimpse of the holdings and financial operations of the archdiocese, which filed for Chapter 11 bankruptcy Jan. 16, becoming the 12th Catholic organization to file for bankruptcy in the clergy sex abuse scandal.
The parties have been ordered into mediation.
Since October, the archdiocese has paid $1.6 million to Briggs & Morgan, the Minneapolis law firm the archdiocese hired to guide it through bankruptcy, the documents show.
It also paid $53,946 to Whyte Hirschboeck Dudek S.C., the law firm representing the Archdiocese of Milwaukee in its ongoing bankruptcy, for services it provided last year.
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