Wis. archdiocese: Bankruptcy has so far cost $12.5M
MILWAUKEE (AP) – The Archdiocese of Milwaukee says its bankruptcy case has cost more than $12.5 million so far. The financial details were revealed in the archdiocese’s reorganization plan filed late Wednesday night in federal bankruptcy court. The plan proposes providing $4 million to compensate an estimated 125 victims of clergy sex abuse, less than a fourth of those who filed claims. That’s the smallest per-victim payment yet offered by the 11 dioceses that have filed for bankruptcy in the past decade. The plan must still be approved by a judge. The archdiocese filed for bankruptcy in 2011. In all, the archdiocese says it has spent $6.9 million on its own attorneys. It estimated its creditors’ attorney costs, which the archdiocese must pay, are nearly $12.5 million. Creditors include hundreds of abuse victims.
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