Bankruptcy costs for Minnesota archdiocese near $12 million
December 01, 2016
The legal costs associated with the bankruptcy filing of the St. Paul-Minneapolis archdiocese are approaching $12 million, Minnesota Public Radio reports.
A federal bankruptcy-court judge will soon weigh new bills from lawyers and other professionals involved in the case, amounting to $4.5 million. The archdiocese is obliged to pay the fees for creditors as well as its own legal costs.
The archdiocese has proposed a financial reorganization plan that would provide $130 million for the sex-abuse victims who constitute the largest group of creditors. Attorneys for the victims are seeking more compensation.
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Further information:
- Twin Cities archdiocese's bankruptcy costs approach $12 million (MPR)
- Judge: parish, school assets will not be part of Minnesota diocese’s bankruptcy settlement (CWN, 7/29)
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