Wednesday, June 24, 2015

Bankruptcy has cost St. Paul - Minneapolis Archdiocese about $2 million so far

Martin Moylan
MPR News
June 23, 2015

The Archdiocese of St. Paul and Minneapolis has incurred about $2 million in legal costs so far in its bankruptcy reorganization.

The archdiocese filed for bankruptcy in January. Soon after the filing, the judge assigned to the case ordered key parties into mediation, hoping that would expedite a resolution and keep legal costs down.

But the latest operating report filed by the archdiocese indicates it has racked up $1.4 million in legal fees, mostly with the Briggs and Morgan law firm.

The church is also responsible for $600,000 in legal fees incurred by the unsecured creditors' committee, which is representing the interests of sex abuse victims.

Meanwhile, the archdiocese reported $27.3 million in net assets as of May 31.

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