The Roman Catholic Diocese of Helena, Mont., is seeking court approval for a loan that would allow it to contribute about $2 million to a proposed $15 million compensation package for hundreds of people who allege they were sexually abused by clergy members, Dow Jones Daily Bankruptcy Review reported yesterday. To pay for its share of the compensation package as well as for its legal fees, the diocese has asked a bankruptcy judge to sign off on a $3.5 million loan. The loan, provided by Placid Enterprises LLC, would be secured by 13 diocesan properties, including cemetery land and the bishop's residence, according to court papers filed on Monday with the U.S. Bankruptcy Court in Butte, Mont.
