$36M Charitable Trust Not Available To Diocese Creditors In Bankruptcy

In In re Roman Catholic Archbishop of Portland in Oregon, (Bkrptcy. Ct. D. OR, July 20, 2006), an Oregon Bankruptcy judge held that the Diocese’ Perpetual Endowment Fund is a valid charitable trust and is not part of the assets that can be reached by Diocese creditors in its bankruptcy proceeding. The $36 million fund religious, educational and charitable programs, as well as operating expenses of the Diocese Chancery Office. Yesterday’s Portland Catholic Sentinel carried an article about the court decision.