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Committee of Abuse Survivors Reaches Settlement in Society of Jesus Chapter 11 Case

March 25, 2011

CHAPTER 11 CASE OF THE SOCIETY OF JESUS, OREGON PROVINCE

The Official Committee of Unsecured Creditors for the Society of Jesus, Oregon Province (the "Committee"), the Society of Jesus, Oregon Province (the "Oregon Province"), and the Future Claimants Representative are pleased to announce they have reached an agreement to resolve the chapter 11 case of the Oregon Province. 

The Oregon Province, the Committee, and the Future Claimants Representative are drafting a joint plan of reorganization allowing the Oregon Province to resolve approximately 524 abuse claims in a five state area (Alaska, Washington, Oregon, Montana and Idaho).  Under the plan, the Oregon Province will pay $48.1 million and one of the Oregon Province's insurance carriers will pay $118 million into a trust.  The total of $166.1 million in the trust, less certain sums for bankruptcy administrative expenses, will be used to compensate survivors. The agreement does not include a settlement of claims against certain of the Oregon Province's other insurance carriers (Atlantic Mutual, USF&G, or Western World), or claims the Committee asserts exist against certain other parties including, the Society of Jesus (Rome), the Society of Jesus Curia General, the Father General of the Society of Jesus, Seattle University, Gonzaga University, and the Jesuit high schools located in the Oregon Province five-state territory. The Committee and the Oregon Province are also working to finalize certain nonmonetary commitments by the Oregon Province that are designed to protect children in the future.