Dioceses’ $3.75 Billion Fidelis Sale to Get Probe in Bankruptcy

Creditors of the Roman Catholic Diocese of Albany should be entitled to access some records related to the $3.75 billion sale of non-profit health insurer Fidelis Care, a bankruptcy judge said.

Pensioners of a shuttered hospital in upstate New York advanced efforts to investigate the 2018 sale of Fidelis by the state’s eight Catholic Dioceses to Centene Corp. and the subsequent creation of the Mother Cabrini Health Foundation using the sale proceeds. A creditors’ committee representing the St. Clare’s Hospital pensioners has sought to subpoena information about the transactions to determine if the deals were structured to keep funds out ...