Sunday, February 16, 2014

Helena diocese enters bankruptcy

http://www.diocesehelena.org/bishop/_images/coat-of-arms-tp-web.png
The Diocese of Helena, Montana has formally filed for federal bankruptcy protection, becoming the 11th American diocese to take that step in the wake of the sex-abuse scandal. 

In seeking protection under Chapter 11 of federal bankruptcy law, the diocese listed $33.6 million in liabilities against only $16 million in assets. 

The diocese did not list the properties held by parishes, schools, and other Catholic institutions in the diocese that are separately incorporated, but said that the total financial value of those assets would approach $33 million.

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