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Victims of Christian Brothers to Share in Final Assets
The plan would distribute about $216 million in remaining assets and could give survivors more than liquidation, though payouts would still fall short of claims.
- On Monday, the Trustees of the Christian Brothers Oceania Province announced a proposed scheme to distribute $216 million in remaining assets to abuse survivors and creditors, warning liquidation is otherwise inevitable.
- The Australian congregation confirmed it faces financial collapse as compensation claims have surged, while the Royal Commission into Institutional Responses to Child Sexual Abuse previously found 22 per cent of members were alleged sexual predators since 1950.
- Over the past 45 years, the group has paid in excess of $480 million in compensation and legal costs. The scheme requires approval from at least 50 per cent of creditors, representing 75 per cent of total claims value, plus court approval.
- Lawyers for the Christian Brothers are expected to request an urgent stay of all legal proceedings in the Supreme Court of NSW on Tuesday, interrupting scheduled civil trials for several abuse survivors.
- Lawyer Kim Price from Arnold Thomas and Becker warned the move could be survivors' "final chance" to obtain compensation, as the process might result in victims receiving only a fraction of what they are owed.
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Christian Brothers says it is running out of money for abuse victims – BishopAccountability.org
The Christian Brothers will cease to exist after 183 years in Australia, and could be liquidated after paying hundreds of millions of dollars to abuse victims and saying the Catholic Church denied requests for assistance. The order has proposed a deal that would allow it to distribute its remaining funds – including a property portfolio worth around $216 million – to victims and to other creditors, although it will be less than what they are owe…
Coverage Details
Total News Sources9
Leaning Left5Leaning Right2Center0Last UpdatedBias Distribution71% Left
Bias Distribution
- 71% of the sources lean Left
71% Left
L 71%
R 29%
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