The Diocese of Ogdensburg, New York, and a committee representing over 125 plaintiffs agreed to an $83-million abuse settlement fund that would allow the diocese to emerge from bankruptcy.
Much of the fund ($38 million) will come from insurance settlements.
Under the plan, which awaits court approval, “each of our parishes will file a Chapter 11 case at the very last moment,” said Bishop Terry LaValley. “We expect our parishes will be in bankruptcy approximately 48 hours.”