From Archbishop Bernard A. Hebda
I am grateful to all those who took part in the balloting process and thereby helped us to move closer to a resolution of our ongoing bankruptcy litigation. It is my understanding that the balloting was intended to inform the Bankruptcy Court as to how many creditors consent to confirmation of the proposed Plans. Given that the outcome of the balloting does not necessarily dictate any one particular result, we will continue to look to the Court for guidance as we proceed. I believe the Archdiocese’s Plan of Reorganization – which stands at more than $155 million – provides a fair and just resolution to the bankruptcy. Under our Plan, $155 million will be available to claimants whenever our Plan would be confirmed, without the need for any additional litigation or uncertainty. I continue to believe that timely resolution to this bankruptcy benefits those who have made claims against the Archdiocese. Conversely, it pains me that the longer this case plays out in court, the greater will be the attorneys’ fees and costs incurred, diminishing settlement funds that would otherwise be available to those who have been harmed.
I would appreciate your prayers as we continue working with the court and legal counsel for claimants to conclude these proceedings as quickly as possible.