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  Milwaukee Archdiocese to File for Bankruptcy

Reuters
January 4, 2011

http://www.reuters.com/article/idUSTRE7034DL20110104

Milwaukee's 135-year-old Roman Catholic Archdiocese said on Tuesday it will file for bankruptcy, citing the financial drain from unresolved lawsuits brought by victims of sexual abuse by priests.

Archbishop Jerome Listecki said in a statement posted on the church's web site that the decision to file for Chapter 11 reorganization grew out of a November court decision that insurance companies are not bound to contribute to financial settlements with victims.

The aim is to pay pending claims and "to continue to meet the needs of parishes, parishioners, and others who rely upon the Church for assistance," the statement said.

 
 

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