The Archdiocese of Boston has entered a legal settlement with an insurance company. The newspaper quotes sources who say the insurer agreed to pay $20 million. That’s a third of what the archdiocese was asking for, but it may be better than what it might have gotten had they gone to trial. The archdiocese had wanted Lumbermens Mutual to pay $59.3 million of the $85 million settlement with abuse victims, and another $7.7 million split between Lumbermens and another company. I guess the rest of it comes from the chancery property sale to BC. With all this financial mumbo-jumbo who can keep track?
That is a good deal for the archdiocese. Lumbermans is broke, and in receivership, and supervised by the states. They might have gotten much less if they waited.