Monday, July 11, 2011

Jesuit High Schools In The Oregon Province Say They Are Not A Part Of Oregon Province

Later this summer, insurers for the Oregon Province will send payments to the trust of nearly $120 million, according to attorneys for the parties.

A last-minute objection to the bankruptcy plan by a lawyer for four high schools -- Beaverton's Jesuit High, Tacoma's Bellarmine Preparatory, Spokane's Gonzaga Preparatory and Seattle Preparatory -- nearly put a halt to today's long-awaited conclusion to the bankruptcy plan.
A lawyer for the schools wanted an agreement written into the plan that would release them from any legal claim that they were part of the Oregon Province. The province and the committee of creditors appointed in the case had recently reached such an agreement with Seattle University. However, the creditors committee argued against the high schools getting the same deal.
Lawyers huddled privately during a break in today's proceedings to reach a compromise: the settlement trust was given a deadline of up to nine months to commence any litigation against the high schools. The trust would also be required to file one lawsuit, and it would be limited to a pair of Portland venues: U.S. District Court or U.S. Bankruptcy Court. 
Link (here) to Oregon Live to read the full story.

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