Diocese emerges from bankruptcy
WILMINGTON - The Roman Catholic Diocese of Wilmington has emerged from bankruptcy with the funding of a $77.4 million trust for victims of priest sex abuse.
WILMINGTON - The Roman Catholic Diocese of Wilmington has emerged from bankruptcy with the funding of a $77.4 million trust for victims of priest sex abuse.
Attorneys told a Delaware bankruptcy judge that a check deposit and wire transfers had been made in compliance with Monday's deadline for funding of the trust.
Under the diocese's reorganization plan, about 150 alleged abuse victims will share proceeds of the trust in return for releasing all legal claims against the diocese, its parishes, and affiliated entities. - AP
Emily Bloch and Max Marin
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