Boy Scouts of America Files for Bankruptcy

Creative Commons: "Boy Scout National Jamboree 2010" by Preston Kemp is licensed under CC BY-NC-SA 2.0

(OnFocus) The Boy Scouts of America (BSA) announced it has filed for bankruptcy.

The move is designed to compensate hundreds of victims who experienced sexual abuse during their time as a Scout and create a Victims Compensation Trust.

Scouting programs, including meetings, activities, service projects, and council events will continue for years to come, the organization stated in a release.

“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,” said Roger Mosby, President and Chief Executive Officer. “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.”

Local councils are legally separate from the national organization and have not filed for bankruptcy.

“The BSA firmly believes that a proposed Victims Compensation Trust structure is the best means of compensating victims in a way that is equitable and protects their identities,” the organization stated. “The BSA encourages victims to come forward to file a claim as the bankruptcy process moves forward and will provide clear and comprehensive notices about how to do so.”

Kaylin S
Author: Kaylin S

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