January 23, 2018 / 9:39 PM / a year ago

Creditors accuse bankrupt Montana diocese of stashing assets

A Montana diocese made itself insolvent by transferring more than $16 million of assets to a nonprofit before declaring bankruptcy to prevent victims of clergy sex abuse from laying claim to the funds, according to its official creditors’ committee.

The Diocese of Great Falls-Billings began transferring the assets from its deposit and loan fund to an affiliated non-profit in 2016 as part of an “asset protection scheme,” according to a complaint filed Friday.

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