Creditors' Meeting 2/11/11

The next milestone in the Chapter 11 reorganization process is scheduled for Friday, February 11, when there will be a public hearing on the Financial Reports filed by the archdiocese this past Monday. The filings take this financial information and put it into standard formats which are used by the U.S. Trustee. The financial condition of the archdiocese has not had serious changes since the year-end financials, which are posted here.

The public hearing is an opportunity for the U.S. Trustee to ask the debtor (the archdiocese) questions about the information contained in the filings. Then there is an opportunity for creditors to ask questions. Since this is a public hearing, it is open to the media. While we don’t know what questions will be asked at the hearing, we can expect that there will be media coverage.

We also expect that there may be media coverage relating to the union pension plan.  Under this plan, there are 33 current and former employees, including six retirees currently receiving pension payments. Although our contributions to the plan have far exceeded the pension payments to retirees, we have worked cooperatively and successfully with the union to increase the funding contributions to the plan.

On January 21, we posted information about the other archdiocesan pension plans on our Web site.  To access that information please click here.