The Roman Catholic Diocese in Albany has filed for bankruptcy to help address the financial fallout from the droves of child sexual abuse lawsuits it faces.
during the Child Victims Act window allowing survivors to sue regardless of whether the claims were outside of the statute of limitations.
“It had come to the point where actually our financials were showing that we were going to have a shortfall in our ability to maintain our pension and also to pay our employees,” Scharfengerger said. “It was now or never, basically.” The cleric said the church’s self-insurance funds were nearly depleted after paying out dozens of individual settlements.Scharfenberger said bankruptcy would ensure all the plaintiffs with open cases would receive compensation.
Lawyers for victims with pending sex abuse cases claim bankruptcy is a legal move with the diocese claiming it has far less assets than in actuality.A group of lawyers representing 190 of the victims in cases against the Albany Diocese have accused the church of understating their assets and filing for Chapter 11 bankruptcy as a legal tactic.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NY diocese facing flood of lawsuits files for bankruptcyALBANY, N.Y. (AP) — The embattled Roman Catholic Diocese of Albany became the latest diocese in New York to seek bankruptcy protection Wednesday as it faces hundreds of lawsuits alleging sexual abuse.
Read more »
Albany legislators dismiss Hochul’s MTA rescue plan, present their own | amNewYorkThe State Assembly and Senate have released their long-awaited responses to Governor Kathy Hochul's executive budget, pointedly rejecting her plan to rescue the fiscally-beleaguered Metropolitan Transportation Authority and putting forth their own.
Read more »
Chemical plant leak causes yellow plume of nitrogen oxide in New Albany, IndianaA southern Indiana chemical plant released an orangish cloud of nitrogen oxide Tuesday, prompting officials to close nearby roads and issue shelter-in-place orders until the cloud dissipated.
Read more »
Catholics can eat meat this Friday in light of St. Patrick’s Day, Dallas diocese saysThe Catholic Diocese of Dallas announced in a news release earlier this month that it is allowing its members to eat meat this Friday despite Lent. The...
Read more »
$250K offered to decode ancient Roman scrollsFormer GitHub CEO Nat Friedman is helping fund $250,000 in prizes aimed to decode ancient Roman scrolls.
Read more »