Santa Fe Archdiocese Files Plan for $121M Abuse Settlement

One of the oldest Catholic dioceses in the U.S. has filed its bankruptcy reorganization plan to compensate nearly 400 clergy abuse survivors with more than $121 million.

A federal bankruptcy judge in the District of New Mexico will hear the Archdiocese of Santa Fe’s plan in a hearing Wednesday, the Albuquerque Journal reported.

The long-anticipated agreement comes nearly four years after the Archdiocese of Santa Fe filed for bankruptcy reorganization to resolve mounting abuse claims that dated back decades.

Under the plan, six insurers will cover $46.5 million of the $121.5 million, according to the court filing, which the newspaper obtained. That leaves the archdiocese responsible for $75 million. The archdiocese has over $69 million in an escrow account, as well as a $5.4 million promissory note that must be paid off by March 31.

Continue reading at Crux