Magdalene nuns refusing payment had assets of €1.5bn

IRELAND
Irish Times

Harry McGee

The four religious congregations that have refused to contribute to the compensation fund for residents of their former Magdalene laundries had combined gross assets worth €1.5 billion when the last comprehensive assessment of their financial resources was made in 2009.

However, most of the assets comprise property and buildings in use as schools, hospitals, facilities for health and disability services, making it impossible for the value of the assets to be realised. Some of the assets are held in trust, making transfer problematic. With the property market depressed, 2009 values no longer stand, and attempts to dispose of land have not been successful.

Yesterday Taoiseach Enda Kenny accepted in the Dáil that the orders could not be compelled to pay, and that moral persuasion would have to be applied. There have been calls for the four orders be stripped of their charitable status.

Sisters of Mercy
The country’s largest order, with 2,000 members, founded by Sr Catherine McAuley in 1834, has played a central role in educational provision. In 2009 it had total property assets of over €1 billion. Some €660 million related to schools in use, €60 million to a hospital in use; the value of congregation residences was €200 million and a further €70 million related to other services.

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