With Bankruptcy Filing, Diocese of Stockton Joins Ranks of Other Bankrupt Dioceses

On Wednesday, January 15, 2014, the Diocese of Stockton became the 10th Diocese in the nation to file for bankruptcy protection in the face of mounting liability stemming from childhood sexual abuse allegations. The move comes on the heels of the indictment of one of the Diocese’s priests for child molestation.

The Diocese estimates that its outstanding liabilities amount to somewhere between 10 and 50 million dollars – almost all of it the result of pending or future childhood molestation claims. The Diocese was previously the home of notorious pedophile priest Father O’Grady.

For more information and the whole story, go to: http://dr.marketwatch.com/dr/