The Diocese of Sacramento recently obtained approval from the Bankruptcy Court to sell two properties: (i) a single-family residence in Vallejo, California; and (ii) another single-family residence in Sacramento, California.  These sales will generate $1,175,225 in net proceeds for the Diocese’s estate, which will be held in a segregated bank account during the course of the bankruptcy. 

The Committee’s real estate professionals, FTI, has reviewed these sales and has advised the Committee that the marketing process and price were commercially reasonable.  As a result, the Committee did not object to these sales prior to their approval by the Bankruptcy Court.  As with previous sales of real property, all net proceeds will be held for use in a financial settlement with Survivors.  The Committee continues to review all real estate sales proposed by the Diocese to ensure that the maximum amount will be available to pay Survivors.