Wednesday, April 23, 2014

Creditors to challenge archdiocese plan

The outcome of the continued hearing on the Disclosure Statement filed in our Archdiocese's bankruptcy made Regional News Briefs in this morning's Milwaukee Journal Sentinel.
"U.S. Bankruptcy Judge Susan V. Kelley on Tuesday scheduled a four-day hearing on the reorganization plan for Oct. 14 to Oct. 17, with the understanding that the lawyers for the creditors committee would file their motion."
That's the hearing on whether or not to approve the plan of reorganization our Archdiocese filed February 12th. The motion is the Creditors Committee objection to proceeding on that plan.
"They contend that Kelley has no authority to approve the plan — which includes the settlement of a lawsuit over $60 million in a cemetery trust created by the archdiocese — while that lawsuit is pending before the U.S. 7th Circuit Court of Appeals."
The Summary of Hearing filed yesterday in the Bankruptcy indicates the parties will file briefs next month on the issue and the court will then decide. [In re Archdiocese of Milwaukee, Case No. 11-20059]

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