Following Camden’s bankruptcy declaration, the remaining alleged victims — along with all of the dioceses creditors – will have a limited pot of money to draw from, and settlements will be determined by a bankruptcy court.
Results from Tag: 'bankruptcy'
Several dioceses in the state have filed for bankruptcy due to the large number of lawsuits filed under the Child's Victim Act.
Several dioceses in the United States have declared bankruptcy in the last year, several doing so after states passed laws opening a window in the statue of limitations for historical instances of sexual abuse.
Bishop Lucia said only the diocese itself has filed for Chapter 11; the parishes, foundation, Catholic Charities, and Catholic schools of Syracuse are separate corporations and are not affected by the bankruptcy filing.
The diocese stressed its dedication to accountability and healing from past abuse, as well as efforts to prevent abuse in the future.