Albany Catholic Diocese declares bankruptcy amidst abuse claims.
The Diocese of Albany has filed for Chapter 11 bankruptcy due to its obligation to maintain its self-insurance program as part of its insurance plan that was threatened by the continued settlement of individual cases along with the timing of the Diocese payroll cycle. The diocese is struggling to settle over 400 Child Victims Act cases and has settled 50. The bankruptcy filing will also put a hold on the lawsuits involving St. Clare’s pensioners.