Bankruptcy Resolution

BANKRUPTCY RESOLUTION

May 31, 2018
Dear Brothers and Sisters in Christ,

By now, I hope you have heard the good news that an agreement has been reached to resolve the bankruptcy of the Archdiocese. Thank you for your prayers.

The consensual agreement, reached after much hard work, establishes a trust fund totaling approximately $210 million that will be available for the resolution of the bankruptcy claims. It also includes a provision that will enable the parishes of the Archdiocese and related Catholic institutions to avoid further litigation stemming from these claims, thereby enabling us to carry on our mission of spreading and living the Gospel of Jesus Christ.

I am particularly grateful to the victims/survivors who have bravely come forward.  Without their courage and persistence, this resolution would not have been possible. The Church let them down, and we are humbled that they now allow us to begin to make amends. We will all need to do more to let them know that they are always truly welcome in our parishes.

I am also grateful to Judge Robert Kressel for the direction he provided, which led to this settlement, and to Magistrate Arthur Boylan and Paul Van Osselaer for their extraordinary efforts as our mediators. They were true, honest brokers in working with all parties.

Gratitude is owed as well to the many advocates who worked so passionately on behalf of survivors. They, along with the legal counsel representing the parishes, played a vital role in helping us all find a path to a just and fair resolution.

I am especially grateful to our legal team from Briggs and Morgan, who worked tirelessly to analyze, address and advance this matter for over three years, while respecting our Gospel values and objectives. Also, I would be remiss if I failed to thank Tom Abood, the chair of the Archdiocesan Finance Council, who, as chair of our Reorganization Task Force led the negotiations on behalf of the Archdiocese. The advice given by

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ST. OLAF CATHOLIC CHURCH
215 S. 8TH STREET, MINNEAPOLIS, MINNESOTA 55402
612-332-7471
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