Facing a wave of lawsuits over allegations of sexual abuse, the Boy Scouts of America has filed for bankruptcy. The long-anticipated Chapter 11 filing will allow the Boy Scouts to keep operating as it reorganizes its finances and handles claims from hundreds of potential victims. It will also give alleged victims a limited amount of…
Continue reading…Boy Scouts of America files for bankruptcy amid hundreds of sexual abuse lawsuits
The Boy Scouts of America has filed for bankruptcy, according to a court document filed in Delaware bankruptcy court early Tuesday. The youth organization, which celebrated its 110th anniversary February 8, listed liabilities of between $100 million and $500 million, but $50,000 or less in assets. The bankruptcy filing comes at a time when the…
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