Buffalo, N.Y. (WBEN) - The Buffalo Diocese has reached a $150 million deal in federal court Tuesday to settle hundreds of sexual abuse cases.
Steve Boyd, an attorney representing some of the survivors, says the diocese will have to pay out $125 million on the effective date, and then another $25 million within a year of that date.
"Judge Bucki issued an order in November setting a deadline for a plan to be submitted by September 1st. The plan language is worked out among the parties, and then there is a disclosure hearing. If the judge approves the plan and the disclosure hearing, he's approving it to go out to a vote to all of the survivors, they'll each get a ballot, and they will, we hope, approve a plan from that point. Then a confirmation hearing will be set several months later, probably three, four months later, and on the date of confirmation. That would become the effective date of ballpark," stated Boyd
Once approved by the court, this will be the second largest settlement ever reached by a bankrupt Roman Catholic institution to date.
""We are grateful to the survivors who have served as committee members. They have worked tirelessly for all these years, struggling to find a measure of justice for all survivors in Buffalo," stated Boyd."
Dan Chiacchia, who also represents some of the survivors, says there are incentives for the diocese to pay off the $25 million early.
"Interest starts to kick in at an accelerated rate, starting at five months. I think we started at like 5%. It goes up accordingly to 4% and then goes up accordingly until it's paid. They have an incentive to get that paid as quickly as possible, and we're hoping that they do it before that five months - that first interest payment is due," stated Chiacchia.
Bishop Michael Fisher says this is a step in the right direction for the diocese to provide restitution and healing.
"My direct message to them is certainly in the name of the church and myself that I am sincerely sorry for any harm that has been done to them, not because it's any of their fault. No clergy should ever - that's an abuse of what they're called to as priests, as deacons. In the church, we should expect that our people feel safe, that they feel that that's a place of refuge that they can come to," stated Fisher. "We're in resurrection time right now, Easter. Easter is about hope, and when someone experiences abuse like that, it's contrary to what the church should be about."