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	SD Diocese Files for Bankruptcy By Greg Moran Union-Tribune [San Diego CA] February 27, 2007 http://weblog.signonsandiego.com/news/breaking/2007/02/sd_diocese_files_for_bankruptc.html See breaking news report and documents from the case. The Roman Catholic Diocese of San Diego announced today that it was filing for Chapter 11 bankruptcy reorganization after last-ditch negotiations to settle 150 lawsuits alleging sexual abuse failed. In a statement Bishop Robert Brom said that the diocese tried to settle the cases by offering a settlement that "would have stretched our financial ability to the limit, but demands were made which exceeded the financial resources of both the diocese and our insurance carrier." He said filing Chaprter 11, where all claims are settled in one court rather than having many trials, was "the best way for us to compensate all the victims as fairly and equitably as our resources will allow." San Diego becomes the fifth diocese in the nation to file for bankruptcy in the wake of the clergy abuse scandals plaguing the church. With almost 1 million Catholics in San Diego and Imperial counties, it is by far the largest diocese to file a Chapter 11 petition. See story from Tuesday's Union-Tribune.
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