The Archdiocese of New Orleans' yearslong bankruptcy has officially ended. Advertisement

Judge Meredith Grabill heard from church leaders, sex abuse survivors, and insurance companies over the course of two weeks and formally approved the $230 million settlement on Monday.

Last week testimony wrapped up with Grabill taking the weekend to come to her final decision on the settlement.

Attorneys for the Archdiocese said money for survivors will be ready before Dec. 31.

Nearly 150 parishes and charities will contribute approximately $65 million to the settlement fund for clergy sex abuse survivors.

The diocese will also pay about $28 million with an interest rate of a little more than 4% over 12 years to bondholders, as well as pay a portion of additional fees.

Payouts will be specific

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