SAN FRANCISCO -- After hundreds of lawsuits were filed by alleged sexual abuse victims, the Archdiocese of San Francisco is saying it likely will go bankrupt.
In a statement released Friday, the archdiocese said in part:
"For several months now, with the assistance of our financial and legal advisors, we have been investigating the best options for managing and resolving these cases. After much contemplation and prayer, I wish to inform you that a Chapter 11 bankruptcy reorganization is very likely."
News of the bankruptcy has frustrated people like Joey Piscitelli.
"They have hundreds of millions of dollars in property. They're not bankrupt. If they're bankrupt, it's morally," Piscitelli said.
Piscitelli said he was sexually abused as a child.
He now works with a group called SNAP, or the Survivors Network of those Abused by Priests.
For Piscitelli, the potential bankruptcy filing causes several worries. One of the main ones is the delayed process of getting some form of justice for victims.
"Everything stops for the bankruptcy proceeding," Rick Simons said.
Simons is an attorney who currently represents around 75 people with sexual abuse cases.
He said, if it happens, the bankruptcy filing will allow the archdiocese to deal with the hundreds of cases collectively instead of one by one.
"I think the chance that they are not compensated at all is very low. The chance that they are not compensated fairly is very high," Simons said.
I-TEAM EXCLUSIVE: Marin County man confronts past as Catholic priest accused of sex abuse
While the process plays out, Piscitelli said many of the victims will be waiting, hoping one day to find closure and some sense of peace.
"The church is presenting itself as the person who is the victim here, and they're not. Clearly, they're not," Piscitelli said.