Boy Scouts of America files for bankruptcy amid Thousands of sexual abuse lawsuits

Money

Thousands of men say they were molested by Scout leaders; compensation fund could surpass $1 billion

Facing hundreds of sex-abuse lawsuits, the Boy Scouts of America filed for Chapter 11, federal bankruptcy protection, Tuesday, in Wilmington, according to a court document filed in Delaware.

The 110-year-old organization faces what could be one of the biggest, most complex bankruptcies ever seen.

Due to recent changes in some states’ statute-of-limitations laws, several thousand alleged abuse victims say they have molested as scouts by scoutmasters or other leaders decades ago but are only now eligible to sue them.

The bankruptcy petition listed the Boy Scouts’ assets as between $1 billion and $10 billion, and its liabilities at $500 million to $1 billion…[CNN]

Read more about:

Leave a Reply

Your email address will not be published. Required fields are marked *