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Revealed: Sisters of Mercy have assets of €1.8 billion

One of the religious orders refusing to contribute to the Magdalene compensation fund has total a...
Newstalk
Newstalk

08.28 18 Jul 2013


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Revealed: Sisters of Mercy hav...

Revealed: Sisters of Mercy have assets of €1.8 billion

Newstalk
Newstalk

08.28 18 Jul 2013


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One of the religious orders refusing to contribute to the Magdalene compensation fund has total assets worth around €1.8 billion.

The Sisters of Mercy are the largest religious order in the country and have around €165 million in cash on their books.

They are 1 of 4 groups of Catholic nuns - also including the Sisters of Our Lady of Charity, the Sisters of Charity and the Good Shepherd Sisters - who say they will not put any money into the redress scheme but will help the survivors in other ways instead.

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Investigative Correspondent with the Irish Examiner, Conor Ryan, told Newstalk's Breakfast that all 4 orders have substantial assets - but the Sisters of Mercy are the largest:

 


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