(Buffalo, NY) – Recently, the Survivors Committee, in the Diocese of Buffalo Bankruptcy case, reached a settlement with two of the diocese’s insurers. A settlement with Wausau Insurance was reached for a total of $37.5 million, and a settlement with Continental Insurance Company (CNA) for $85 million.
“These settlements are another step toward the resolution of this case,” said attorney Stacey Benson. “These settlements are a testament to survivors who refuse to stay silent until the diocese is held accountable.”
In April, the Committee reached a settlement for $150 million. The court has ordered an October 1st deadline for the diocese to file its plan of reorganization.
Bankruptcy settlements involving insurers and dioceses often determine how compensation funds for survivors will be funded and distributed. These agreements are often a significant part of bankruptcy proceedings involving large numbers of abuse claims.