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The Clergy Sex Abuse Crisis and the Legal Responses$
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James T. O'Reilly and Margaret S.P. Chalmers

Print publication date: 2014

Print ISBN-13: 9780199937936

Published to Oxford Scholarship Online: October 2014

DOI: 10.1093/acprof:oso/9780199937936.001.0001

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Bankruptcy Issues

Bankruptcy Issues

Chapter:
(p.103) Chapter 9 Bankruptcy Issues
Source:
The Clergy Sex Abuse Crisis and the Legal Responses
Author(s):

James T. O’Reilly

Margaret S. P. Chalmers

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199937936.003.0009

U.S. bankruptcy law allows a maker of a bad product to declare bankruptcy, thus forcing all claims to be filed by one date. Despite bad publicity, numerous U.S. Catholic dioceses went into voluntary bankruptcy to force all abuse claims to be filed and settled by the “claim bar” date or be blocked. The chapter discusses the impact of a bankruptcy filing on a parish, in particular how the parish‘s assets are affected if the debtor-in-possession or trustee is able to include them in the bankruptcy estate, and how the assets of other parishes may be affected if assets have been comingled.

Keywords:   bankruptcy, debtor-in-possession, bishop, parish assets, claims bar

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