Boy Scouts Of America Files For Bankruptcy

Stock Photo: US Army

IRVING, TX – The Boy Scouts of America has filed for bankruptcy.

The youth organization filed on Tuesday as it faces a wave of sexual abuse lawsuits.

It listed its assets between $1 billion and $10 billion and estimated $500 million to $1 billion in liabilities.

According to its website, it filed chapter eleven to “equitably compensate victims who were harmed during their time in scouting.”

Local councils are not filing for bankruptcy as they are legally separate and distinct organizations.

“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 Boy Scouts of America’s important mission,” said Roger Mosby, Boy Scouts of America’s President and Chief Executive Officer.


Make it easy to keep up to date with more stories like this. Download the WNY News Now mobile app on the Apple App Store and Google Play Store.


Have a news tip? Email, send us a message on Facebook, or Twitter.

WNY News Now encourages an open exchange of opinions and ideas on our stories, however, we ask everyone to follow our comment policy.

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.