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.
- Practices: Corporate Transactions & Business
- Locations: Red Bank, NJ, New York City, Little Falls, NJ
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
Corporate Governance Reviews: A Practical Guide for New Jersey Companies
Every New Jersey company should periodically evaluate its governance framework. Strong corporate governance protects directors and officers, builds investor confidence, reduces litigation exposure, and positions a company for sustainable growth. The first quarter of the year is a great time to evaluate your corporate governance practices and perform any routine maintenance needed to keep that […]
Author: Ken Hollenbeck
What to Do After Being Served with a Lawsuit: Steps to Protect Your Legal Rights
Being served with a lawsuit is one of the most stressful legal events a business or individual can face. Whether the claim involves a contract dispute, an employment matter, an intellectual property issue, or another legal challenge, the actions you take in the first few days can significantly shape the outcome of your case. Acting […]
Author: Robert E. Levy
Will 2026 Be a Banner Year for SPACs? Understanding the Risks and Opportunities
Special Purpose Acquisition Companies (SPACs) continue to gain momentum as we move through 2026. After enduring a significant contraction following the 2021 boom and the regulatory scrutiny that followed, SPAC activity rebounded sharply in 2025 and now carries forward into 2026 with real momentum. The SPAC resurgence reflects broader improvements in both market conditions and the […]
Author: Dan Brecher
Why Compliance Monitoring Matters for NY and NJ Businesses
Compliance programs are no longer judged by how they look on paper, but by how they function in the real world. Compliance monitoring is the ongoing process of reviewing, testing, and evaluating whether policies, procedures, and controls are being followed—and whether they are actually working. What Is Compliance Monitoring? In today’s heightened regulatory environment, compliance […]
Author: Dan Brecher
When Are New Jersey Business Owners Personally Liable for Corporate Debt?
New Jersey personal guaranty liability is a critical issue for business owners who regularly sign contracts on behalf of their companies. A recent New Jersey Supreme Court decision provides valuable guidance on when a business owner can be held personally responsible for a company’s debt. Under the Court’s decision in Extech Building Materials, Inc. v. […]
Author: Charles H. Friedrich
Commercial Real Estate Trends to Watch in 2026
Commercial real estate trends in 2026 are being shaped by shifting economic conditions, technological innovation, and evolving tenant demands. As the market adjusts to changing interest rates, capital flows, and workplace models, investors, owners, tenants, and developers must understand how these trends are influencing opportunities and risk in the year ahead. Overall Outlook for Commercial […]
Author: Michael J. Willner
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.