Buffalo Roman Catholic Diocese seeks bankruptcy protection
BUFFALO, N.Y. (AP) — The embattled Roman Catholic Diocese of Buffalo filed for bankruptcy protection Friday, taking another major step in its effort to recover from a clergy misconduct scandal that‘s been the basis for hundreds of lawsuits, Vatican intervention and the resignation of its bishop.
The Chapter 11 filing estimates between $10 million and $50 million in assets and between $50 million and $100 million in liabilities. The number of creditors is estimated at between 200 and 999.
“Abuse survivors need to understand the diocese has assets and insurance,” said attorney Michael Pfau, who has represented numerous alleged victims in bankruptcy proceedings in several states. “A bankruptcy is simply a way to give the diocese a legal `time out’ from the current litigation so that one judge can ultimately decide a fair way to compensate all people who timely file a claim in the bankruptcy.”
Attorney James Marsh said the proceedings “should not and will not prevent survivors from seeking justice and accountability in Buffalo.”Find more information online here.
Filed Under Bankruptcy Catholic Church Child Victims Act (CVA) News