Bankruptcy judge questions whether Archdiocese of New Orleans has financial wherewithal to continue
August 23, 2024
» Continue to this story on The Guardian
CWN Editor's Note: The judge who is overseeing the Archdiocese of New Orleans’ bankruptcy proceedings questioned whether the archdiocese has the financial wherewithal to continue to exist.
Judge Meredith Grabill has asked Mo Meghji, a corporate turnaround expert, to “find out the status of two competing restructuring plans being promised by the Church and its creditors; to review about $40M in costs already incurred in the bankruptcy since its filing in 2020; and to determine whether the Church has the ‘financial wherewithal’ to ‘reorganize and continue as a going concern,’” The Guardian reported.
Meghji’s pay for his two months of work is capped at $350,000.
Amid soaring archdiocesan legal costs, attorneys for 500 alleged abuse victims have asked the judge to take away Archbishop Gregory Aymond’s authority over archdiocesan finances.
The above note supplements, highlights, or corrects details in the original source (link above). About CWN news coverage.
For all current news, visit our News home page.
All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a current donor, log in to see the comment form; otherwise please support our work, and Sound Off!
