The Cathedral of the Immaculate Conception in downtown Camden, New Jersey. Credit: Farragutful via Wikimedia Commons Bankruptcy Judge Asked to Find Camden Diocese in Contempt Over Alleged Concealment of $32M
"At best, this failure is the result of novel accounting; at worst, and more likely, the debtor is attempting to shield its assets from creditors while simultaneously failing to abide by this court's cash management order," the creditors' committee said in its contempt motion in the Diocese of Camden Chapter 11 proceedings. "These actions cast doubt on the integrity of this bankruptcy process and warrant immediate remedial action by this court."
November 17, 2021 at 01:14 PM
4 minute read
Bankruptcy
A U.S. Bankruptcy Court judge was asked to find the Diocese of Camden in contempt of court based on its alleged efforts to conceal as much as $32 million in assets during Chapter 11 proceedings.
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