Attorneys in the Boy Scouts of America bankruptcy case have reached a tentative settlement under which one of the organization’s largest insurers would contribute $800 million into a fund for victims of child sexual abuse.
FILE - In this Feb. 12, 2020, file photo, a statue stands outside the Boy Scouts of America headquarters in Irving, Texas. In an agreement announced Monday, Dec. 13, 2021, attorneys in the Boy Scouts of America bankruptcy have reached a tentative settlement under which one of the organization's largest insurers would contribute $800 million into a fund for victims of child sexual abuse. DOVER, Del.
That plan called for the Boys Scouts and its roughly 250 local councils to contribute up to $820 million in cash and property into a fund for victims. They also would assign certain insurance rights to the fund. In return, the local councils and national organization would be released from further liability for sexual abuse claims.
The Boy Scouts, based in Irving, Texas, sought bankruptcy protection in February 2020, seeking to halt hundreds of individual lawsuits and create a fund for men who say they were sexually abused as children. Although the organization was facing 275 lawsuits at the time, it’s now facing more than 82,000 sexual abuse claims in the bankruptcy.
The coalition, which is affiliated with more than two dozen law firms, has played a dominant role in the bankruptcy despite the existence of an official committee charged with representing the best interests of all abuse claimants. It also has been at the center of various disputes over information sharing and how the BSA’s reorganization plan and trust distribution procedures were crafted.
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