MILWAUKEE (WI)
Wall Street Journal
Milwaukee Archdiocese to Set Aside $4 Million for Victims
By TOM CORRIGAN
Feb. 12, 2014
The Archdiocese of Milwaukee said it intends to file a plan of reorganization with bankruptcy court Wednesday that would set aside $4 million to compensate hundreds of individuals who allege they were sexually abused by the archdiocese’s priests.
The plan also would create a $500,000 fund to provide therapy for the lifetime of the victims and pays an estimated $5 million in legal and accounting fees associated with the Chapter 11 case.
Some of the $4 million could be used by eligible holders of sexual-abuse claims to pursue litigation against the church’s insurers, which could add to their compensation. The archdiocese says it would provide the money by taking out a loan on several of its properties.
The plan, which after it is filed must be approved by a judge, would allow the archdiocese to continue operations and eventually emerge from bankruptcy protection.
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