Bankrupt diocese offers $11 million to settle 292 abuse cases
October 27, 2009
The Diocese of Fairbanks, which filed for bankruptcy in 2008, has submitted a second reorganization plan in bankruptcy court. Under the terms of the plan, the Alaska diocese would offer $11 million to creditors and alleged victims to settle 292 abuse cases.
The diocese plans to raise $7.5 million by selling its chancery office, schools, and other assets to a legally distinct diocesan endowment fund. “We’ve researched this. We believe it is legal,” said Arizona-based diocesan attorney Kasey Nye.
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