Sunday, August 9, 2015

Dead right

The sidebar to Brian T. Olszewski's report of the Archdiocese of Milwaukee's mediated bankruptcy settlement in the Milwaukee Catholic Herald includes this in the sources of the money.
"$3 million - amount Cemetery Trust will lend to archdiocese for settlement

"$8 million - amount from Cemetery Trust to settle pending litigation

"$5 million - amount from Cemetery Trust for past cemetery care expenses not previously reimbursed by the Trust"

This compares to payment of only $2 million from the trust, in the form of a loan, in the reorganization plan our Archdiocese filed in February 2014.

A few months back when I posted on the Cemetery Trust's loss on appeal to the Seventh Circuit, I concluded,

"The net effect may be that the plan of reorganization will be revised so that the Cemetery Trust loans more money to our Archdiocese to finance a larger payment to abuse claimants."
Not exactly calling my shot, but I'll take it.

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