Boy Scouts going bankrupt
Recent changes in states’ statutes of limitations have unleashed hundreds of sex abuse lawsuits against the Boy Scouts of America. The 110-year-old organization filed for Chapter 11 federal bankruptcy in Wilmington, Del., on Tuesday in an attempt to craft a victim compensation plan.
What does it mean for Scouting’s future? In the short-term, the lawsuits will go on hold while the organization goes to bankruptcy court. In the long term, it could be forced to sell vast amounts of property to raise money for a compensation trust fund.
Dig deeper: Read Warren Cole Smith’s report on the mounting problems that led the Boy Scouts to mortgage one of its most famous properties.
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