Lawyers say Minnesota archdiocese hiding $1 billion in assets

Twin Cities ArchbishopST. PAUL, Minn. — Attorneys on Tuesday accused a Minnesota archdiocese of sheltering more than $1 billion in assets to avoid big payouts to abuse survivors as part of the church’s bankruptcy case.

They say the Archdiocese of St. Paul and Minneapolis has some $1.7 billion in assets — far more than the $49 million it lists in a filing this week. In court papers, they accuse the archdiocese of vastly undervaluing assets such as the St. Paul Cathedral and tucking money away in other corporations to shield it from creditors.  Continue reading…

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