After existing for more than a century, Boy Scouts of America files for bankruptcy

February 17, 2020 Utah Channel 3

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