Boy Scouts of America files for Chapter 11 bankruptcy, proposes abuse victim fund
The Boy Scouts of America announced early Tuesday that it has filed for Chapter 11 bankruptcy protection, saying its goals are twofold: "Equitably compensate victims who were harmed during their time in scouting and continue carrying out its mission for years to come." BSA noted that local scouting councils are legally separate, distinct, and financially independent from the national organization," and will not be directly affected by the bankruptcy reorganization.
As part of the bankruptcy process, BSA said, it proposes to "create a Victims Compensation Trust that would provide equitable compensation to victims" of sexual and other abuse by scout leaders and volunteers. "The BSA cares deeply about all victims of abuse and sincerely apologizes to anyone who was harmed during their time in scouting," BSA President and CEO Roger Mosby said in a statement. "We are outraged that there have been times when individuals took advantage of our programs to harm innocent children." BSA created a new site, BSA Restructuring, to answer questions and link to resources for abuse victims.
"The BSA firmly believes that a proposed Victims Compensation Trust structure is the best means of compensating victims in a way that is equitable and protects their identities," the organization said, adding that it "encourages victims to come forward to file a claim as the bankruptcy process moves forward and will provide clear and comprehensive notices about how to do so."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
The best homes of the year
Feature Featuring a grand turret entrance in New York and built-in glass elevator in Arizona
By The Week Staff Published
-
Nordstrom family, investor to take retail chain private
Speed Read The business will be acquired by members of the family and El Puerto de Liverpool, a Mexican real estate company
By Peter Weber, The Week US Published
-
Biden commutes most federal death sentences
Speed Read The president downgraded the punishment of 37 of 40 prisoners on death row to life in prison without parole
By Peter Weber, The Week US Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published