Abuse victims' lawyers aim at parish assets in Milwaukee archdiocesan bankruptcy case
Catholic World News - October 19, 2012
Lawyers for sex-abuse victims are taking aim at parish assets in a continuing struggle for compensation from the Milwaukee archdiocese.
With the archdiocese in bankruptcy, creditors are arguing that the assets available for paying debts should include parish properties and the proceeds from the archdiocesan Faith in Our Future fundraising campaign. The archdiocese has argued that parishes, which are separate corporations, should not be included in an accounting of the archdiocesan assets. The Faith in Our Future campaign is also legally separate from the archdiocese. Lawyers for abuse victims are questioning whether the fundraising campaign was deliberately set up in order to shield assets for creditors.
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Posted by: koinonia -
Oct. 20, 2012 12:01 AM ET USA
For creditors, assets will include anything they can get their hands on. For the faithful, it is a trying time. For the future, prayer.
Posted by: TheJournalist64 -
Oct. 19, 2012 7:49 PM ET USA
All financial planners recommend compartmentalizing assets as an asset protection strategy. This should be an easy case for the diocese to defend, as long as they don't have an aggressive, anti-Catholic judge. No question that they have aggressive, anti-Catholic plaintiffs. Remember, the whole point of the SNAP movement is to destroy the Church in the US.