Creditors: Minnesota Archdiocese Sitting on $1.7 Billion
MINNEAPOLIS (AP) - Creditors and an attorney for victims of clergy abuse are accusing a Minnesota archdiocese of vastly understating its assets in bankruptcy.
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 undervaluing assets and tucking money away in corporations to shield it from creditors.
Jeff Anderson, an attorney for hundreds of people claiming sexual abuse by priests, calls it a "massive scheme" to defraud creditors and deny fair resolution of claims.
An archdiocese spokesman did not immediately respond to a request for comment.
The archdiocese filed bankruptcy in January 2015 as it faced an onslaught of new abuse claims.