Lawyers say Minnesota archdiocese hiding $1 billion in assets / Associated Press on Cruxnow.com

Attorneys on Tuesday (May 24) accused a Minnesota archdiocese of sheltering more than $1 billion in assets to avoid big payouts to abuse survivors as part of the church’s bankruptcy case.

“They say the Archdiocese of St. Paul and Minneapolis has some $1.7 billion in assets — far more than the $49 million it lists in a filing this week. In court papers, they accuse the archdiocese of vastly undervaluing assets such as the St. Paul Cathedral and tucking money away in other corporations to shield it from creditors.

“Jeff Anderson, an attorney for hundreds of people claiming sexual abuse by priests, said the local church had schemed to defraud creditors and deny fair resolution of claims.”

By Steve Karnowski, Associated Press, on Cruxnow.com — Click here to read the rest of this story.

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