Milwaukee Archdiocese to Seek Bankruptcy Protection

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From FOX News:

foxnews.com/us/2011/01/04/milwaukee-archdiocese-seek-bankruptcy-protection/?test=latestnews

“MILWAUKEE – The Milwaukee Archdiocese said Tuesday it had directed its attorneys to file for bankruptcy protection because pending sexual-abuse lawsuits have left it with debts it can’t pay.”

“The archdiocese was entering Chapter 11 reorganization so it could continue its work as a church while also compensating victims of sexual abuse, Archbishop Jerome Listecki said in a statement posted on the church’s website.”

“The archdiocese is the eighth in the nation to seek bankruptcy protection since the clergy abuse scandal erupted in 2002 in Boston. The other seven are in Davenport, Iowa; Fairbanks, Alaska; Portland, Ore.; San Diego; Spokane, Wash.; Tucson, Ariz.; and Wilmington, Del.”
 
Since 2002, we have sold property, liquidated savings and investments, eliminated ministries and services, cut archdiocesan staff by nearly 40 percent, and put all available real estate on the market in order to free up resources,"

Read more: foxnews.com/us/2011/01/04/milwaukee-archdiocese-seek-bankruptcy-protection/#ixzz1A77GC9nU

hmm so they are cutting ministries and services because of the amount of $$$ they are dishing out…unfortunate to say the least. If I win the lottery i’ll send them a multi-million dollar check 😉
 
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