SALT LAKE CITY — The Boy Scouts of America has filed for Chapter 11 bankruptcy.
This bankruptcy protection has been in the works for a while, and according to a report from Fox13Now, it allows the national organization to keep operating as they try to negotiate settlements in hundreds of sexual abuse lawsuits.
This move will allow them to create a trust to fairly compensate abuse victims in an effort to keep the 110-year old organization afloat.
The group filed in a Delaware federal bankruptcy court. Their liabilities ranged between $100-million and $500-million.
Read the full story here: Fox13Now.com.
Written by TAMARA VAIFANUA, Fox13Now.com
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