Boy Scouts of America Files for Bankruptcy Due to Sex-Abuse Lawsuits
The Boy Scouts of America is hoping its operations across the U.S. can continue intact even after it has filed for bankruptcy protection. The filing is an attempt to work out a potentially mammoth compensation plan for victims of sex-abuse and put their lawsuits on hold.
Scores of lawyers are seeking settlements on behalf of several thousand men who say they were molested as boys by scout leaders decades ago.
The organization could be forced to sell off some of its vast property holdings to raise money for a compensation fund that could surpass $1 billion.
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