Boy Scouts of America Files for Bankruptcy Amidst Sexual Abuse Claims

The Boy Scouts of America have filed for bankruptcy on Tuesday (2/18/2020) amidst new sexual abuse lawsuits.

In what could be the largest, most complex bankruptcies ever, the organization will sell off some of its property holdings to compensate thousands of victims that have alleged sexual abuse while still allowing the organization to carry on.

“The BSA cares deeply about all victims of abuse and sincerely apologizes to anyone who was harmed during their time in Scouting. We are outraged that there have been times when individuals took advantage of our programs to harm innocent children.  While we know nothing can undo the tragic abuse that victims suffered, we believe the Chapter 11 process – with the proposed Trust structure – will provide equitable compensation to all victims while maintaining the BSA’s important mission,” – Roger Mosby, president and chief executive officer of the BSA

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