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Bankruptcy #19: Diocese of Rochester Files for Protection

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The Roman Catholic Diocese of Rochester, facing potentially huge judgments for past sexual abuse by its priests and other ministers, filed bankruptcy Thursday morning. The diocese filed a petition for Chapter 11 reorganization in the U.S. Bankruptcy Court in Rochester at about 9:30 a.m. The petition estimates the diocese’s assets as $50 million to $100 million —and its financial liabilities as […]