Religion

muriel_volestrangler

(102,972 posts)

3. The Trump manoeuvre - have a subsidiary declare bankruptcy when you're sued

Thu Nov 8, 2018, 06:17 PM

Nov 2018

to limit the payout, and then start up another one as if you're fit to run a business. Or a cult.

“Just because the archdiocese is filing for bankruptcy does not mean it will go out of business,” Perez said. “In my discussions with attorneys from my team with extensive experience in these types of bankruptcies, this filing will allow the archdiocese to reorganize and still be operational after the claims are paid and the bankruptcy is closed.”
...
“The church had to take a position to save all the churches and schools,” he said.

I can see a justification for saying their schools should remain as schools - ideally run by a public body. But the churches? They should be on the market, to pay what they can to the victims. It doesn't matter how much they'd fetch in the Guam real estate market; the principle is that a bankrupt organization loses all its assets.

Click here to purchase valentine hearts!

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

3 replies

= new reply since forum marked as read

Highlight:

Guam Catholic church to file bankruptcy amid abuse lawsuits [View all] Eugene Nov 2018 OP

There is one Catholic Church edhopper Nov 2018 #1

A very, very good point. MineralMan Nov 2018 #2

The Trump manoeuvre - have a subsidiary declare bankruptcy when you're sued muriel_volestrangler Nov 2018 #3