Del. Diocese Gets More Time To Finish Ch. 11 Plan

Law360, New York (March 18, 2011, 7:07 PM EDT) -- A bankruptcy judge in Delaware gave the Catholic Diocese of Wilmington Inc. additional time Friday to pull together a reorganization plan built around a $77.4 million settlement with alleged victims of sexual abuse.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware extended the debtor’s exclusivity period until April 19 to allow the diocese to finalize the settlement and otherwise work towards a fully consensual plan.

While previous extension requests provoked objections from the creditors committee, the latest bid for time,...
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