settlements and bankruptcies in Catholic sex abuse cases (Q7456932)
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events in Catholic Church child sexual abuse scandal in America
- Catholic Church Settlements and Bankruptcies
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | settlements and bankruptcies in Catholic sex abuse cases |
events in Catholic Church child sexual abuse scandal in America |
|
Statements
1 reference
In many cases, churches precede bankruptcy by transferring and reclassifying assets. The effect is to shrink the pot of money available to clergy abuse victims. That and Chapter 11’s universal settlements and protections from further claims have been an effective one-two punch for limiting payouts. A Bloomberg Businessweek review of court filings by lawyers for churches and victims in the past 15 years shows that the U.S. Catholic Church has shielded more than $2 billion in assets from abuse victims in bankruptcies using these methods. (English)
1 reference
As of May 2022, thirty-one Catholic religious organizations have sought bankruptcy protection in chapter 11. Twenty cases have concluded. Eleven cases are pending. This archive contains: 1) two articles by Penn State Law professor Marie T. Reilly; 2) summaries of case information and outcomes; 3) summaries of information about Independent Reconciliation and Compensation Programs (IRCP’s) implemented by dioceses organized by state; 4) plans and disclosure statements; and 5) other key documents from the dockets of these bankruptcy cases organized by debtor in chronological order by date of filing. (English)