Christian Brothers Oceania Province on Brink of Financial Collapse Due to Sexual Abuse

The organisation responsible for paying financial restitution to the victims of child sexual abuse by religious order, the Christian Brothers, says it is on the brink of financial collapse. The Trustees of the Christian Brothers Oceania Province on Monday announced a proposed scheme to distribute its remaining assets, valued at roughly $216 million, to cover claims by survivors and victims of abuse as well as other creditors. The scheme would see victims get more than if the organisation and its related entities entered liquidation, according to the group, however it says payments would be less than the dollar value of existing claims. Over the past 45 years, the group has made total payments – including compensation and claimants’ legal costs – in excess of $480 million. The number and value of claims and quantum of settlements has accelerated over the past decade, it says. Continue reading at Canberra Times Post Views: 50