Open Modal
On Air
10:00 AM - 03:00 PM

Boy Scouts file for bankruptcy due to sex abuse lawsuits

In the face of hundreds of sexual abuse lawsuits, the Boy Scouts Of America filed for Chapter 11 protection on Tuesday.

According to federal court papers, the 110-year-old youth organization has less than $50,000 in assets while listed liabilities of between $100 million and $500 million.

Claiming bankruptcy allows the BSA to suspend the lawsuits from alleged sexual abuse victims across the country while it restructures its debt.

In addition, a Victims Compensation Trust will be set up to “provide equitable compensation to all victims while maintaining the BSA’s important mission,” says CEO Roger Mosby.

Related Posts