- Oct 20, 2002
Archdiocese of Boston is weighing its options on declaring bankruptcy filing under Chapter 11. Cardinal Bernard F. Law, facing lawsuits regarding 450 alleged victims of clergy sexual abuse, is being urged by aides to file Chapter 11. It has been almost a year since the scandal broke. It is estimated that the Church has $1.3b in assets. He feels that under a Federal Bankruptcy court will get a better deal. There's a possibility of selling the Chancery & his residence, which Boston College wants to purchase.