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IPFS News Link • Clubs and Organizations

Boy Scouts of America plan to exit bankruptcy would pay abuse survivors an average of $6,000...

• https://www.usatoday.com, Cara Kelly

Another $300 million may come from a voluntary contribution from local councils, the Boy Scouts said in court documents filed Monday, but the local organizations have given no formal commitment.

The number is a fraction of the $1 billion of the organization's estimated value, and a sliver of the value of its subsidiaries, including local councils as well as various trusts and endowments, which USA TODAY estimates could exceed $3.7 billion.  

The proposal is part of a reorganization plan put forth by the nonprofit detailing how it intends to handle the massive child sex abuse case that's threatening its existence – the largest ever involving a single national organization – and emerge as a viable entity. 

It comes a little more than a year after Boy Scouts filed for bankruptcy in federal court in Delaware. At the time, the organization said it faced 275 lawsuits in state and federal courts plus another 1,400 potential claims. Nearly 95,000 claims were filed by the November deadline set by the bankruptcy judge.


http://www.thelibertyadvisor.com/declare