Boy Scouts file for bankruptcy due to sex-abuse lawsuits

The Chapter 11 filing in federal bankruptcy court in Wilmington, Delaware, sets in motion what could be one of the biggest, most complex bankruptcies ever seen. Scores of lawyers are seeking settlements on behalf of several thousand men who say they were molested as scouts by scoutmasters or other leaders decades ago but are only now eligible to sue because of recent changes in their states' statute-of-limitations laws.

The Boy Scouts are just the latest major American institution to face a heavy price over sexual abuse. Roman Catholic dioceses across the country and schools such as Penn State and Michigan State have paid out hundreds of millions of dollars in recent years. The financial outlook had worsened last year after New York, Arizona, New Jersey and California passed laws making it easier for victims of long-ago abuse to file claims. Teams of lawyers across the U.S. have been signing up clients by the hundreds to sue the Boy Scouts.

Among the matters to be addressed in bankruptcy court: the fate of the Boy Scouts' assets; the extent to which the organization's insurance will help cover compensation; and whether the victims' lawyers will seek to add to the fund the assets of the Scouts' more than 260 local councils. 9

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