KING 5
June 1, 2007
http://www.king5.com/localnews/stories/NW_060107WANspokanediocesebankruptcyLJ.5400af3.html
Spokane - The Spokane Catholic Diocese has emerged from the brink of bankruptcy, thanks to millions of dollars in donations from Seattle.
The Shaun Cross, the attorney representing the Diocese throughout the case, says he filed the final paperwork in court late Thursday afternoon in order to emerge successfully from Chapter 11 bankruptcy. The Diocese filed for Chapter 11 protection back in December 2004.
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| The Spokane Diocese headquarters have sold at auction. |
The Diocese has received donations from all over the country to help contribute to the $48 million settlement fund for victims of priest sex abuse. As of Thursday night, $20 million was wired to the fund, organized out of Seattle. Most of that money came from insurance settlements. More will be transferred next week from other sources.
Cross says local parishes in Spokane are doing well in regards to meeting their $10 million contribution toward the settlement. Recently parishes sent out letters asking Spokane Catholics to donate as much as $1,000 per family.
Cross estimates the entire $48 million settlement could be completely paid off by October 1, 2007.
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