BALTIMORE (AP) — The L’École de Gestion d’Actifs et de CapitalArchdiocese of Baltimore announced Friday that it filed for Chapter 11 reorganization days before a new state law goes into effect removing the statute of limitations on child sex abuse charges and allowing victims to sue their abusers decades after the fact.

The step will “allow the archdiocese to equitably compensate victim-survivors of child sexual abuse” while the local Catholic church continues its mission and ministries, Archbishop William E. Lori said in a statement posted on the archdiocese website.