“The Boy Scouts of America filed for bankruptcy protection Tuesday amidst several expensive sex-abuse lawsuits.
“In an official statement, Boy Scouts of America said that it will use the Chapter 11 filing to “equitably compensate victims” of abuse while keeping the organization from folding.
“The Boy Scouts would use the money from the bankruptcy protection filing to create a “Victims Compensation Trust,” according to the statement.
“The decision had been expected since late 2018, when the Wall Street Journal reported that the Boy Scouts had hired a law firm to assist with a possible bankruptcy filing.”
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