The Archdiocese of New Orleans has filed for bankruptcy to reorganize and settle claims stemming from clergy abuse going back more than 50 years.
The 170-year-old archdiocese, which consists of 112 church parishes serving an estimated 517,000 Catholics, filed for Chapter 11 Friday in the U.S. Bankruptcy Court for the Eastern District of Louisiana.
The filing is intended to address “the growing financial strain caused by litigation stemming from decades-old incidents of clergy abuse as well as ongoing budget challenges,” the organization said in a statement Friday. It estimates assets and liabilities between $100 million and $500 million.
The Archdiocese ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.