Alumni from the Connecticut Catholic School plan to help the school because they are about to face bankruptcy because of sex-abuse claims. The alumni are about to compete with an unidentified bidder to prevent the sale of the school from compensating the victims of sexual abuse committed by the clergy.
Graduates of the Connecticut Catholic School to Buy the School
Kyle Klewin and Jeffrey Londregan, alumni of Saint Bernard School, have established a limited liability company called Saints Country LLC. According to National Catholic Registrar, the company aims to purchase the school property from the diocese and operate the school as an independent entity.
Under their plan, the school would remain under the spiritual guidance of the local bishop, but the financial management would be independent. Jeffrey Londregan is a lawyer and a graduate of the class of 1989. NCR reports that the two alumni are committed to preserving the school's legacy and ensuring that future generations benefit from its quality education.
The former students believe that selling the school right past wrongdoings is inappropriate. Kyle Klewin, a member of the class of '95 and founder of a construction firm, expressed his belief that this action would rob future generations of obtaining an unparalleled education and experience. The alumni have made it their mission to safeguard the institution's heritage while guaranteeing upcoming scholars can reap its benefits.
Another source, the Boston Globe, reported that the alumni from St. Bernard School would have to pay $6.2 million for ownership rights. This acquisition is one of many measures being taken by the diocese to compensate victims following 142 accusations of sexual harassment carried out by priests and other employees affiliated with them; a total sum of $29 million is set aside towards this end goal to be distributed among all affected parties involved."
The school was at risk of being closed down, which led attorney Jeffrey Londregan and around 10 other alumni to form Saints Country LLC, this limited liability company that could potentially save the school. The group is now the preferred buyer, referred to in bankruptcy terms as the "stalking horse," and is exchanging drafts of a purchase-and-sale contract with the diocese. The alumni are motivated by their love for the school and their resentment that the clergy abuse crisis could take away a precious experience for current high school students.
Also Read: Archdiocese of Santa Fe Files Bankruptcy Reorganization to Compensate 400 Clergy Abuse Survivors
Bankruptcy as the Solution to Pay up the Victims
In a story in Christianity Daily, Cardinal Robert McElroy of the Roman Catholic Diocese of San Diego has warned that bankruptcy might be the only solution for compensating the victims of sexual abuse. The diocese could be facing a moment where it enters into bankruptcy in the coming months due to its potential inability to compensate victims of sexual abuse.
According to NBC San Diego, Kevin Eckery, the diocese's communications director, estimated that the organization could have to spend an astounding $550 million to resolve the existing allegations involving sexual abuse of youngsters. At the same time, McElroy thinks declaring bankruptcy might be a way to guarantee that all sex assault victims receive fair compensation.
The strategy would also settle the countless lawsuits resulting from abuse episodes that date back as long as 75 years and establish a fund for potential claimants. In light of Assembly Bill 218's recent approval, which removed the statute of limitations for claims filed between 2020 and 2022, concerns have been raised concerning how these settlements will be paid for.
Related Article: San Diego Catholic Church Could Face Bankruptcy Filing to Compensate Victims of Sexual Abuse Scandal
