Lawsuits Lead to Bankruptcy

Interesting article from Catholic.net but the more interesting question:
“What does it mean when a catholic organization files for bankruptcy?
They are out of business one would presume, but do they close?
Are priests and nuns send back to Rome or how does this actually work?

Interesting also the link on the top of the page

(No use trying to click it to make your donation – it is only a picture)

Interesting in the context of the article below – some good old fashioned fund raising from the believers to save the sinking ship!

Catholic.net News Report: May 02, 2011.
by CNS Staff Writer | Source: CNS

Irish Christian Brothers file for bankruptcy; abuse lawsuits blamed

NEW ROCHELLE, N.Y. (CNS) — The Christian Brothers Institute, the legal arm of the Edmund Rice Christian Brothers, filed for bankruptcy protection April 28 amid rising expenses for sexual abuse lawsuits. A brief statement by the institute April 29 said the trustees voted unanimously to file for bankruptcy reorganization, after “extensive, prayerful and difficult” deliberation. It said “deficit spending and litigation costs” forced the action. The institute had been running an annual “seven-figure deficit,” said the statement, without elaborating on the amount. It added that the economic situation was “exacerbated by legal expenses involving lawsuits” particularly in Seattle and St. John’s, Newfoundland. The brothers are the second religious order to file for bankruptcy protection in the United States because of expenses related to sexual abuse cases. The Oregon province of the Society of Jesus agreed in March to pay about $166 million in settlements to 500 people who have sought damages for abuse they said they suffered under Jesuits at schools and parishes in the Northwest. That settlement was part of the order’s bankruptcy proceedings.

One Comment

  1. no part of the roman catholic church is bankrupt thats just a ploy to keep victims silent, are they as vile as the child raping de la salle christian brothers in northern ireland .

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