A bankrupt New York Catholic diocese agreed to a sex abuse litigation settlement of more than $320 million, a significant milestone in a Chapter 11 case that’s nearing the four-year mark.
The deal in the bankruptcy of the Roman Catholic Diocese of Rockville Centre was announced Thursday after lawyers for the diocese and creditors told the bankruptcy court earlier this month that they had agreed to “financial terms” of a deal.
The money will fund a trust that will distribute payouts to abuse survivors. The diocese, its parishes and affiliates will contribute $234.8 million to the fund, according to an ...