16 July 2015, The Tablet

Closure of Heythrop College


 
In the wake of two Tablet articles on Heythrop College which include some financial detail, it is important to address one glaring inaccuracy, the total net worth of £1 billion ascribed to the Jesuits’ trust, and several points of misunderstanding (“A Jesuit light goes out in London”, 4 July; “Our task is not to run a university”, 11 July).The insured value of properties is not “Jesuit money”. Take, for instance, the (Grade 1 listed) Holy Name Church, in Manchester – this property has a high insurance replacement value of £51 million. This is the sum the insurance company would provide to rebuild it according to legal obligations after catastrophic damage. At market, the property is arguably a liability. It is simply incorrect to
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