Archdiocese Files List of Assets, Debts in Bankruptcy Case

KSTP
January 30, 2015

http://kstp.com/article/stories/s3693392.shtml

The Archdiocese of St. Paul and Minneapolis is listing its assets and liabilities in detail as part of its latest filing in U.S. Bankruptcy Court.

The archdiocese filed for Chapter 11 reorganization in mid-January, saying it was the best way to fairly compensate victims of clergy sexual abuse while continuing the church's mission.

In a court filing Friday, the archdiocese lists total assets at more than $45 million, including about $11 million in real property. Liabilities are listed at about $15.9 million.

Pamela Foohey, an associate professor at Indiana University's Maurer School of Law, says the figures don't mean the church has $29 million for victims. She says there are many unknowns. Friday's court filing is a good starting point, but she says numbers often change as cases progress.

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