Milwaukee Archdiocese Files Bankruptcy Reorganization Plan

Biz Times
February 12, 2014

http://www.biztimes.com/article/20140212/ENEWSLETTERS02/140219927/-1/daily_enews

The Catholic Archdiocese of Milwaukee is filing documents today to outline its financial reorganization plan to emerge from bankruptcy.

Officials at the Archdiocese office told WISN-Channel 12 News, a media partner of BizTimes, that the documents were expected to be filed this morning.

A statement the Archdiocese provided to The Associated Press said the bankruptcy plan will include $4 million for sexual abuse victims. Some of that also could be used to file suit against the Archdiocese's former insurers to compel them to pay victims.

The reorganization plan also includes money to provide sexual abuse victims with therapy for the remainder of their lives. Archbishop Jerome Listecki also said the church would use "anything that's unrestricted," including some unused property, to fund any settlement. The plan would include five properties and a loan from the archdiocese's cemetery trust fund.

The Archdiocese filed for bankruptcy in January 2011 to deal with its mounting clergy sex abuse claims.