Catholic parish pastors were told at a recent emergency meeting in Westchester that the New York Archdiocese needs to collectively raise hundreds of millions of dollars more for its fund for the victims of past sexual abuse or the archdiocese could be forced into bankruptcy.
The Archdiocese of New York may be going bankrupt. The shocking news stunned pastors who were summoned to a recent emergency, all-hands meeting in which they were told that, despite real estate selloffs and cost cutting, the $300 million fund to pay off past victims of sexual abuse by priests and lay personnel was still hundreds of millions of dollars short of what is needed to reach a global settlement.
That woeful underfunding comes despite the Diocese having sold off over $800 million worth of real estate over the past two years. Pastors received the devastating news on April 17 at the sprawling 40-acre St….
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