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Bankruptcy, Coming Soon to a Diocese Near You

Joining the ranks of Portland and Tuscon, the Spokane diocese has decided to file for bankruptcy.

I realize that in many cases these diocese seem to have no choice, but with the status of individual parish properties relative to their (arch)diocese still up in the air, there may be a lot of Catholic parishes on the market soon.

Another issue looming on the horizon is whether these bankruptcy declarations are in good faith. According to an article by Marci Hamilton (not exactly a fan of the Church's handling of clergy abuse) "The purpose of Chapter 11 is not to permit defendants to avoid lawsuits, but rather to permit reorganization of an entity in actual or potential financial trouble. If the sole purpose is the former, the bankruptcy filing is not in good faith."

It will be interesting to see how all this plays out.


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This page contains a single entry from the blog posted on November 10, 2004 6:55 PM.

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