The state’s largest religious denomination will continue to operate local parishes as it becomes the nation’s 40th church entity to try to reorganize depleting finances in court.
Vermont’s Roman Catholic Diocese has filed for bankruptcy protection in the wake of more costly lawsuits alleging priest misconduct as far back as 1950, according to a filing Monday with the U.S. Bankruptcy Court in Burlington.
The state’s largest religious denomination, reporting 110,000 members, will continue to operate 63 local parishes as it becomes the nation’s 40th Catholic entity (of a total of some 200) to try to reorganize depleting finances in court.
In its initial petition, the diocese didn’t offer specific financial figures but instead estimated its assets at between $10 million to $50 million, its liabilities at between $1 million to $10 million, and its number of creditors at between 100 to 199, with 30 unresolved lawsuits said to be its largest…
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