Joel R. Glucksman
Partner
201-896-7095 jglucksman@sh-law.comFirm Insights
Milwaukee Archdiocese Filing for Reorganization
Author: Joel R. Glucksman
Date: February 18, 2014
Key Contacts
Back
The sexual abuse scandal has been very detrimental to the financial interests of the Roman Catholic Church, and it appears the damage is not yet over. The Archdiocese of Milwaukee has announced that it will set aside $4 million under its proposed bankruptcy reorganization plan, in order to end its proceedings under U.S. bankruptcy law, according to the Journal Sentinel.
Archbishop Jerome Listekci told Charlie Sykes of WTMJ 620-AM that the $4 million would be made available to victims with eligible abuse claims, for therapy, and for the pastoral care of its flock.
In addition to the $4 million, the archdiocese could also use its property as collateral for a loan to further compensate victims. However, Listecki said that the archdioceses’ assets are relatively small.
The archdiocese filed for bankruptcy back in 2011, claiming the pending sexual abuse lawsuits had left it with debts that it was unable to pay.
The Archdiocese of Milwaukee is not the only one to file for bankruptcy protection in recent years, and indeed has been one of more than a half-dozen, according to the Star-Tribune.
The Roman Catholic Diocese of Helena, Mont., joined that group in late January, when it filed for bankruptcy protection as part of a proposed $15 million settlement for victims of sexual abuse, according to CBS News.
The financial reparations aren’t the only aspect of the deal, as the diocese also has to publicly apologize, publish the names of clergy member who have been accused of abuse, offer to meet with victims, provide counseling and reinforce policies to prevent similar incidents in the future.
With the Catholic church still feeling the impact of the sexual abuse scandal, these two are likely not the last dioceses that may file for bankruptcy.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
Does Your Homeowners Insurance Provide Adequate Coverage?
Your home is likely your greatest asset, which is why it is so important to adequately protect it. Homeowners insurance protects you from the financial costs of unforeseen losses, such as theft, fire, and natural disasters, by helping you rebuild and replace possessions that were lost While the definition of “adequate” coverage depends upon a […]
Author: Jesse M. Dimitro
Understanding the Importance of a Non-Contingent Offer
Making a non-contingent offer can dramatically increase your chances of securing a real estate transaction, particularly in competitive markets like New York City. However, buyers should understand that waiving contingencies, including those related to financing, or appraisals, also comes with significant risks. Determining your best strategy requires careful analysis of the property, the market, and […]
Author: Jesse M. Dimitro
Fred D. Zemel Appointed Chair of Strategic Planning at Scarinci & Hollenbeck, LLC
Business Transactional Attorney Zemel to Spearhead Strategic Initiatives for Continued Growth and Innovation Little Falls, NJ – February 21, 2025 – Scarinci & Hollenbeck, LLC is pleased to announce that Partner Fred D. Zemel has been named Chair of the firm’s Strategic Planning Committee. In this role, Mr. Zemel will lead the committee in identifying, […]
Author: Scarinci Hollenbeck, LLC
Novation Agreement Process: Step-by-Step Guide for Businesses
Big changes sometimes occur during the life cycle of a contract. Cancelling a contract outright can be bad for your reputation and your bottom line. Businesses need to know how to best address a change in circumstances, while also protecting their legal rights. One option is to transfer the “benefits and the burdens” of a […]
Author: Dan Brecher
What Is a Trade Secret? Key Elements and Legal Protections Explained
What is a trade secret and why you you protect them? Technology has made trade secret theft even easier and more prevalent. In fact, businesses lose billions of dollars every year due to trade secret theft committed by employees, competitors, and even foreign governments. But what is a trade secret? And how do you protect […]
Author: Ronald S. Bienstock
What Is Title Insurance? Safeguarding Against Title Defects
If you are considering the purchase of a property, you may wonder — what is title insurance, do I need it, and why do I need it? Even seasoned property owners may question if the added expense and extra paperwork is really necessary, especially considering that people and entities insured by title insurance make fewer […]
Author: Patrick T. Conlon
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Milwaukee Archdiocese Filing for Reorganization
Author: Joel R. Glucksman
The sexual abuse scandal has been very detrimental to the financial interests of the Roman Catholic Church, and it appears the damage is not yet over. The Archdiocese of Milwaukee has announced that it will set aside $4 million under its proposed bankruptcy reorganization plan, in order to end its proceedings under U.S. bankruptcy law, according to the Journal Sentinel.
Archbishop Jerome Listekci told Charlie Sykes of WTMJ 620-AM that the $4 million would be made available to victims with eligible abuse claims, for therapy, and for the pastoral care of its flock.
In addition to the $4 million, the archdiocese could also use its property as collateral for a loan to further compensate victims. However, Listecki said that the archdioceses’ assets are relatively small.
The archdiocese filed for bankruptcy back in 2011, claiming the pending sexual abuse lawsuits had left it with debts that it was unable to pay.
The Archdiocese of Milwaukee is not the only one to file for bankruptcy protection in recent years, and indeed has been one of more than a half-dozen, according to the Star-Tribune.
The Roman Catholic Diocese of Helena, Mont., joined that group in late January, when it filed for bankruptcy protection as part of a proposed $15 million settlement for victims of sexual abuse, according to CBS News.
The financial reparations aren’t the only aspect of the deal, as the diocese also has to publicly apologize, publish the names of clergy member who have been accused of abuse, offer to meet with victims, provide counseling and reinforce policies to prevent similar incidents in the future.
With the Catholic church still feeling the impact of the sexual abuse scandal, these two are likely not the last dioceses that may file for bankruptcy.