$120M For Church Sex Abuse Victims

The Roman Catholic Diocese of Covington agreed Friday to set up a $120 million fund to compensate victims of child-molesting priests and other employees. It would be the nation's biggest settlement in the scandal that has staggered the church.

The settlement in the class-action case is subject to court approval.

The lawsuit — brought on behalf of more than 100 alleged victims accuses the diocese of a 50-year cover-up of sexual abuse by priests and other workers.

In a statement, the diocese and plaintiffs' attorneys said that $40 million of the settlement fund would come from a combination of church real estate and investments and $80 million would come from insurance.

"After personally meeting with more than 70 victims, I am painfully aware that no amount of money can compensate for the harm these victims suffered as innocent children," Covington Bishop Roger Foys said in a statement. "Nevertheless, I pray that this settlement will bring some measure of peace and healing to victims and their loved ones."

Victims will be grouped into four categories based on the severity of abuse, and compensation will range from $5,000 to $450,000, before court-ordered attorney fees are deducted.

"The additional anxiety and stress that would have occurred to the victims had there been a trial has been eliminated," said Stan Chesley, the plaintiffs' chief attorney.

Last year, the Orange County, Calif., Diocese agreed to a settlement that participants said would pay $100 million to 87 victims. In 2003, the Boston Archdiocese, where the scandal first erupted, settled with 552 victims for $85 million.

The Covington case was granted class-action status in 2003 and had been scheduled for trial this spring but was repeatedly postponed while a mediator held settlement talks.