Posts Tagged Chapter 11 bankruptcy
The Archdiocese of St. Paul and Minneapolis filed for Chapter 11 bankruptcy Friday, becoming the 12th in the nation to say its treasury cannot withstand the unprecedented wave of lawsuits from clergy abuse victims.
“The move freezes lawsuits against the church, protecting the archdiocese from creditors while allowing it to develop a reorganization plan. It also halts three abuse trials scheduled to begin Jan. 26.”
By Jean Hopfensperger, Star Tribune — Click here to read the rest of this story.