in_the_media
Archdiocese of Milwaukee may be headed for "administrative insolvency"
Posted Jan 25, 2013
Media Outlet:
Milwaukee Journal-Sentinel
The Archdiocese of Milwaukee is hemorrhaging money on legal and professional fees as a result of its bankruptcy. If it is unable to pay its monthly operating expenses, the Archdiocese of Milwaukee will fall into so-called administrative insolvency beginning in April. "Administrative insolvency — they're the most terrifying words a bankruptcy practitioner can hear," said Jonathan Lipson, who teaches bankruptcy law at Temple's Beasley School of Law, who acknowledged that the Archdiocese may be "thrust into a litigation quagmire."