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Arch Diocese of NY Files a Petition with Supreme Court to Mortgage Properties

The Arch Diocese of NY will be mortgaging some of their properties in order to create a victims fund for Sexual Abuse claims.  The Archdiocese owns several properties throughout New York, specifically land underneath the Lotte NY Palace Hotel and the Villard Houses on Madison Avenue to be the first properties to be petitioned for a mortgage filed in NY Supreme Court on Monday.

Last fall, the Diocese introduced an independent reconciliation and compensation program for victims of sexual abuse by clergy, awarding cash settlements in return for no future legal action to be taken against the Diocese. Read Full Story