Overview
- Creditors approved the plan by 99.63%, with payments slated for roughly 660 eligible survivors using a point-based system.
- The funding package includes $130 million in cash, a $20 million promissory note, about $30 million in insurance recoveries, and projected proceeds exceeding $40 million from 2026 sales of Christopher Homes properties.
- The agreement provides for potential additional recoveries from litigation involving Travelers Insurance Co.
- Binding reforms require new child-protection protocols, outside oversight with a survivor seat on the review board, a Survivors Bill of Rights, and a public archive of previously sealed abuse records.
- A small group of bond investors voted no and are suing the archdiocese alleging securities fraud, after the plan was amended to guarantee about $50 million tied to property sales.