Via the bankruptcy submitting, the group will seemingly must pay victims, however may also keep away from prolonged and damaging jury trials in a quantity of states.
“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,” Roger Mosby, the Boy Scouts’ president and chief government officer, mentioned in an announcement Tuesday.
“Whereas we all know nothing can undo the tragic abuse that victims suffered, we imagine the Chapter 11 course of with the proposed Belief construction will present equitable compensation to all victims whereas sustaining the BSA’s essential mission, he added.
The Boy Scouts have struggled with declining membership and rising prices, The Put up reported earlier this month. The group has $1.four billion in property, based on its 2018 tax submitting, and would additionally must publicize the bankruptcy to achieve as many victims as attainable, attorneys beforehand instructed The Put up.