Yahoo News is reporting that the Archdiocese of Portland has filed for bankruptcy under the weight of payouts due to accusations of sexual abuse by priests. It's the first US archdiocese to do so.
I wonder how they will structure the refinancing? The Boston archdiocese avoided bankruptcy by selling off a bunch of church-owned property, and I assume that Portland has similar assets, albeit probably not as many. At last resort the Vatican can bail them out if the local banks can't or won't.
