Burns Bair Secures $61M Insurance Settlement for Abuse Survivors in Syracuse Diocese Bankruptcy
After years of hard-fought negotiations and litigation, Burns Bair has secured $61 million in insurance payments from various carriers of the Roman Catholic Diocese of Syracuse, New York. The insurance contributions will form part of a Plan of Reorganization that also includes $100 million in payments from the Diocese and various affiliated entities. The amount of additional contribution from non-settling insurer Travelers remains uncertain.
“While no amount of compensation will repair the harm suffered by the survivors, we are pleased that they will receive a significant financial payment from the settling insurers,” says the firm’s Tim Burns.
A confirmation hearing on the diocese’s plan is now scheduled for mid-May.