Diocese of Syracuse secures third extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., June 16 – The Roman Catholic Diocese of Syracuse, N.Y., secured a third extension of the exclusive periods to file and solicit votes on its Chapter 11 plan, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Northern District of New York.

Specifically, the diocese is asking to extend the filing period to Sept. 14 from May 14 and the solicitation period through Nov. 16 from July 16.

The diocese said in its motion that the plan cannot adequately provide for reorganization without a prior resolution of certain matters, including insurance coverage issues.

The diocese said it anticipates that the availability of insurance proceeds will be a crucial threshold issue to be resolved as the parties work to ensure the greatest possible compensation for Child Victim Act claimants through an efficient and effective claims administration process.

And, now that the bar date has passed, the diocese, official committee of unsecured creditors and the insurers can begin to understand the scope of claims filed and begin in earnest the mediation process which will lend to the formulation of a confirmable Chapter 11 plan, the diocese said.

The Syracuse, N.Y.-based diocese filed bankruptcy on June 19 under Chapter 11 case number is 20-30663.

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