Archbishop Byrnes Confirms the Archdiocese Is Liquidating Assets

By Krystal Paco
KUAM
May 3, 2017

http://www.kuam.com/story/35325676/2017/05/03/archbishop-byrnes-confirms-the-archdiocese-is-liquidating-assets


We can expect to see the Chancery and the Redemptoris Mater Seminary among the Archdiocese of Agana's assets up for sale. Coadjutor Archbishop Michael Byrnes confirmed on Tuesday that the Archdiocese is liquidating assets in light of the dozens of clergy sex abuse lawsuits against the Church.

“We're looking at assets that right now do not touch parish buildings or school buildings. We're looking at those assets that are most easily liquidated, so that's about all I can say about it right now,” Byrnes commented. “We're still in the process of evaluating specific assets that can be sold.”

While it has yet to be formally appraised, KUAM files show the RMS Yona property is estimated to value up to $75 million. As reported, the non-profit Hope and Healing Guam will address all clergy sex abuse claims and oversee the settlement fund. Seed money for the fund was set at $1 million.