Portland bankruptcy will spare parishes, schools
The Associated Press reported yesterday (click on this post's title) that U.S. District Judge Michael Hogan has announced that the Archdiocese of Portland will be able to settle all present and future sex abuse claims against it without needing to sell off churches and schools.
Hogan said insurance companies have agreed to pay more than $50 million.
This is all part of a bankruptcy plan that will see the Archdiocese reorganized to, among other things, have its parishes and schools distinct from the Archdiocese in the future.
Listen to this, from the AP article:
"'Most bishops are breathing a sigh of relief across the country,' said Chuck Zech, professor of economics at Villanova University, who has been following the case closely. 'If you had asked me this a month ago, I would have said there was probably no way to pull this off without selling some worship sites.'"
The article does not say what persuaded the insurance companies, or indeed anyone connected with the case, to go along with this form of settlement.
Hogan said insurance companies have agreed to pay more than $50 million.
This is all part of a bankruptcy plan that will see the Archdiocese reorganized to, among other things, have its parishes and schools distinct from the Archdiocese in the future.
Listen to this, from the AP article:
"'Most bishops are breathing a sigh of relief across the country,' said Chuck Zech, professor of economics at Villanova University, who has been following the case closely. 'If you had asked me this a month ago, I would have said there was probably no way to pull this off without selling some worship sites.'"
The article does not say what persuaded the insurance companies, or indeed anyone connected with the case, to go along with this form of settlement.
posted by Quintero at 1:06 PM
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