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New York s Catholic church leaders control billions outside the reach of abuse survivors
Bankruptcy filings and assets shifted to foundations have coincided with passage of Child Victims Act
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The Catholic bishops of New York sold a lucrative insurance business they controlled and stored the proceeds in a foundation they also administer, keeping billions out of the reach of survivors of childhood sexual abuse. Pictured: Cardinal Timothy Dolan in this Sept. 30, 2019 file photo, speaking during a news conference in New York. Dolan established a victim compensation fund in 2016, as a successful battle to lift the statute of limitations on the filing of child sexual abuse lawsuits gathered steam. (AP Photo/Mark Lennihan, File)Mark LennihanShow MoreShow Less
Weinstein Co. Bankruptcy Attorneys to Receive Millions More Than Victims
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The attorneys and professionals in the Weinstein Co. bankruptcy case have received $26 million in fees thus far, considerably more than the $17.1 million that Harvey Weinstein’s victims will receive.
The legal bills are still coming in, and will likely exhaust the $3.3 million remaining in the company’s accounts, according to testimony from Robert Peck, the company’s former controller.
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The fees represent a sizable chunk of the cost of resolving the case, but have received far less attention than the payouts to other stakeholders.
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TACOMA, Wash., Jan. 29, 2021 /PRNewswire/
On January 29, 2021, Northwest Hardwoods, Inc. and certain of its affiliates (collectively, NWH or the Company ) announced that it had completed its financial restructuring process and emerged from Chapter 11. Through restructuring, NWH has substantially reduced its long-term debt obligations by nearly $270m and significantly reduced its debt service obligations. Consequently, the Company holds a strong position to re-invest in long-term growth and continue to provide industry-leading quality and service to its customers.
During the restructuring process, the Company s operations continued without interruption. Employees, suppliers, vendors, contract counterparties and other trade creditors were paid in full and in the ordinary course of business or were otherwise unimpaired.