San Diego diocese files for bankruptcy

From the San Diego Union Tribune:

After four years of legal wrangling in the clergy-abuse scandal, attorneys for Bishop Robert Brom filed for Chapter 11 protection last night, making San Diego the largest Roman Catholic diocese in the nation to declare bankruptcy.

In a brief electronic filing just before midnight, the diocese said it had assets of more than $100 million and estimated debts of more than $100 million.

Brom's action halts the first trial, set to start today, of about 150 lawsuits alleging sexual abuse of children by 60 priests in incidents dating back decades.

Brom said in a statement: "We put money on the table that would have stretched our financial capability to the limit, but demands were made which exceeded the financial resources of both the diocese and our insurance carrier." [More...]

Bishop Brom's statement.