Milwaukee Archdiocese ...

By Tom Corrigan
Wall Street Journal
February 12, 2014

http://online.wsj.com/news/articles/SB10001424052702303704304579379071025431370?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303704304579379071025431370.html

The Archdiocese of Milwaukee said it intends to file a plan of reorganization with bankruptcy court Wednesday that would set aside $4 million to compensate hundreds of individuals who allege they were sexually abused by the archdiocese's priests.

The plan also would create a $500,000 fund to provide therapy for the lifetime of the victims and pays an estimated $5 million in legal and accounting fees associated with the Chapter 11 case.

Some of the $4 million could be used by eligible holders of sexual-abuse claims to pursue litigation against the church's insurers, which could add to their compensation. The archdiocese says it would provide the money by taking out a loan on several of its properties.

The plan, which after it is filed must be approved by a judge, would allow the archdiocese to continue operations and eventually emerge from bankruptcy protection.