And in local news...

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drl2
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And in local news...

Post by drl2 » Fri Aug 13, 2010 1:56 pm

Just passing on a short article from my local paper; the Catholic diocese in Wilmington has filed for bankruptcy in the wake of a number of lawsuits by victims of abuse at priests' hands (and other body parts). Yesterday some of the victims testified at the bankruptcy hearing.

http://www.delawareonline.com/article/2 ... t-betrayal
WILMINGTON -- Six men and one woman -- all older, mostly graying and looking like grandparents -- took turns on a U.S. Bankruptcy Court witness stand Thursday to recall their childhoods and relive the most shattering and traumatic incidents of their lives.

Each told Judge Christopher Sontchi how a priest -- whom they considered to be like God, or certainly God's representative on Earth -- betrayed their faith and trust by molesting them.
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Re: And in local news...

Post by mistermack » Fri Aug 13, 2010 2:21 pm

They should move their claims up the chain of the Church to the next level.
I wouldn't be surprised if this is a tactic to let local Dioceses to go bankrupt, to minimise the final bill to Rome.
There must be a legal way to freeze the assets of the Catholic church in the US, if they are going to adopt this tactic.
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Re: And in local news...

Post by Azathoth » Fri Aug 13, 2010 2:36 pm

How do the bankruptcy laws work over there? Will they be barred from going back into business? Could be a good thing
Outside the ordered universe is that amorphous blight of nethermost confusion which blasphemes and bubbles at the center of all infinity—the boundless daemon sultan Azathoth, whose name no lips dare speak aloud, and who gnaws hungrily in inconceivable, unlighted chambers beyond time and space amidst the muffled, maddening beating of vile drums and the thin monotonous whine of accursed flutes.

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Re: And in local news...

Post by maiforpeace » Fri Aug 13, 2010 3:28 pm

Ghatanothoa wrote:How do the bankruptcy laws work over there? Will they be barred from going back into business? Could be a good thing
Depends on what Bankruptcy they filed, but usually they have to wait 7 years.
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Re: And in local news...

Post by Jay G » Fri Aug 13, 2010 3:33 pm

Ghatanothoa wrote:How do the bankruptcy laws work over there? Will they be barred from going back into business? Could be a good thing

Bankruptcy laws are very complicated. It depends on whether they are liquidating or seeking to restructure so they can pay some of the debt. There are different kinds of BK for corporations, individuals, municipalities, etc..
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Re: And in local news...

Post by Coito ergo sum » Fri Aug 13, 2010 3:35 pm

maiforpeace wrote:
Ghatanothoa wrote:How do the bankruptcy laws work over there? Will they be barred from going back into business? Could be a good thing
Depends on what Bankruptcy they filed, but usually they have to wait 7 years.
That's incorrect. They do not have to wait.

Chapter 11 can be filed, which is reorganization, in which case the business by definition continues.

Chapter 7 - liquidation - is filed by individuals, partnerships, corporations, what have you, and is basically the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors. That results in the end of the business, but there is nothing to stop the same people who were running business X that went bankrupt from starting business Y the next day.

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Re: And in local news...

Post by maiforpeace » Fri Aug 13, 2010 3:57 pm

Coito ergo sum wrote:
maiforpeace wrote:
Ghatanothoa wrote:How do the bankruptcy laws work over there? Will they be barred from going back into business? Could be a good thing
Depends on what Bankruptcy they filed, but usually they have to wait 7 years.
That's incorrect. They do not have to wait.

Chapter 11 can be filed, which is reorganization, in which case the business by definition continues.

Chapter 7 - liquidation - is filed by individuals, partnerships, corporations, what have you, and is basically the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors. That results in the end of the business, but there is nothing to stop the same people who were running business X that went bankrupt from starting business Y the next day.
So it's no big deal if that diocese files bankruptcy - just call the pope for a loan.
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Re: And in local news...

Post by charlou » Fri Aug 13, 2010 6:16 pm

maiforpeace wrote:
Coito ergo sum wrote:
maiforpeace wrote:
Ghatanothoa wrote:How do the bankruptcy laws work over there? Will they be barred from going back into business? Could be a good thing
Depends on what Bankruptcy they filed, but usually they have to wait 7 years.
That's incorrect. They do not have to wait.

Chapter 11 can be filed, which is reorganization, in which case the business by definition continues.

Chapter 7 - liquidation - is filed by individuals, partnerships, corporations, what have you, and is basically the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors. That results in the end of the business, but there is nothing to stop the same people who were running business X that went bankrupt from starting business Y the next day.
So it's no big deal if that diocese files bankruptcy - just call the pope for a loan.
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Re: And in local news...

Post by drl2 » Fri Aug 13, 2010 9:47 pm

An update:

http://www.delawareonline.com/article/2 ... to-proceed

WILMINGTON — Seven civil lawsuits accusing the former Rev. Francis DeLuca of sexual abuse under the Delaware Child Victims Act will be allowed to go to trial this fall, according to a ruling today from a U.S. Bankruptcy Court judge.

...

The Catholic Diocese of Wilmington had opposed allowing the cases – which all name Catholic parishes in Delaware as defendants – from going forward, saying it would distract from and possibly undermine ongoing settlement discussions to resolve all 157 outstanding legal claims alleging sexual abuse by priests in Delaware.

...
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Re: And in local news...

Post by Ian » Fri Aug 13, 2010 9:48 pm

I didn't notice this before - it's good news for me too! I live next door, in Maryland.

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Re: And in local news...

Post by macdoc » Sun Aug 15, 2010 3:22 am

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