Tags: bankruptcy | boyscouts | sexualabuse

Boy Scouts of America May Declare Bankruptcy

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By    |   Wednesday, 12 December 2018 08:50 PM

The Boy Scouts of America may soon declare bankruptcy as lawsuits over sexual abuse pile up and membership figures continue to dwindle, The Wall Street Journal reports.

The group plans to “explore all options available to ensure that the local and national programming of the Boy Scouts of America continues uninterrupted,” according to a letter sent to its employees Wednesday and acquired by the Journal.

The Boy Scouts, founded in 1910, is one of the country’s largest youth organizations. More than 110 million people have participated in its educational programs, per the group.

Since its peak in the 1970s, the group has seen massive drops in memberships, but the greater issue is the number of lawsuits related to sexual assault allegations stemming back to the 1960s.

Last year alone, the group paid $7.6 million to labor and employment law firm Ogletree Deakins to help with its legal battles.

Filing for bankruptcy would allow the Boy Scouts to stop any litigation and give the nonprofit a chance to negotiate with anyone who has sued.

Per the Journal, the Boy Scouts has hired law firm Sidley Austin LLP for assistance with a potential chapter 11 bankruptcy filing.

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The Boy Scouts of America may soon declare bankruptcy as lawsuits over sexual abuse pile up and membership figures continue to dwindle, The Wall Street Journal reports.The group plans to "explore all options available to ensure that the local and national programming of the...
bankruptcy, boyscouts, sexualabuse
195
2018-50-12
Wednesday, 12 December 2018 08:50 PM
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