The Boy Scouts of America (BSA) agreed to settle with more than 70,000 victims of sexual abuse for $850 million. The BSA filed for Chapter 11 bankruptcy in February 2020. The agreement means that the BSA will exit bankruptcy. In the US bankruptcy court of Delaware, Judge Laurie Selber Silverstein signed off on the $850 million settlement. BSA will contribute $250 million, and the local councils will hand over $600 million.
The BSA started in 1910. However, the 111 years old youth organization faced a decline in membership in recent years. Moreover, the Mormon Church was the biggest sponsor of Boy Scouts. Although, the church cut all ties with BSA in mid-2017. As a result, this led to the departure of 400,000 kids from this organization.
The flood of sexual ...