$210 million St. Paul archdiocese bankruptcy settlement approved
Nearly four years after the Archdiocese of St. Paul and Minneapolis filed for Chapter 11 bankruptcy, a U.S. Bankruptcy Court approved a settlement plan that includes $210 million for more than 400 victims of clergy sex abuse.
The settlement would move the Archdiocese of St. Paul and Minneapolis out of Chapter 11 bankruptcy and provide some closure to the hundreds of men and women abused by priests over the past decades.
On Tuesday morning, U.S. Bankruptcy Court Judge Robert Kressel approved the plan, which is supported by both the archdiocese and abuse survivors.
The majority of the settlement, $170 million, would come from insurance carriers. The rest would be paid by the archdiocese and parishes.
The archdiocese sought Chapter 11 bankruptcy protection in January 2015 following a wave of clergy sex abuse claims.
Its a great day, said Jim Keenan, chairman of the committee representing abuse survivors. It means the end of a big part of a very long journey.
Jean Hopfensperger 612-673-4511