San Francisco Archdiocese files for bankruptcy in the face of sexual abuse lawsuits
CBSN
SAN FRANCISCO — The Archdiocese of San Francisco is filing for Chapter 11 bankruptcy in the wake of numerous claims of child sexual abuse allegedly committed by its priests, according to an announcement Monday.
"Today, I am informing you that after much reflection, prayer, and consultation with our financial and legal advisors, the Archdiocese of San Francisco filed for Chapter 11 bankruptcy reorganization," Catholic archbishop of San Francisco Rev. Salvatore J. Cordileone said in a letter posted Monday on the archdiocese's website.
The bankruptcy reorganization stems in large part from the more than 500 civil lawsuits "filed against the Archdiocese under state law AB-218, which allowed individuals to bring claims for childhood sexual abuse that otherwise would have been barred due to the expiration of the statute of limitations," the letter said.
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