Boy Scouts reach bankruptcy settlement with abuse-victims groups

The Boy Scouts of America reached a settlement with all the major groups of sex-abuse victims seeking compensation through the youth group’s bankruptcy proceedings, a milestone in its efforts to turn the page on its past failures to protect children.

The Boy Scouts are offering up to $850 million in cash and other assets to survivors, and signing over insurance rights to a trust that would administer claims and distribute payments, according to an agreement filed in court on Thursday. The settlement “ensures we have the overwhelming support of survivors” to emerge from bankruptcy, the Boy Scouts said.

View more information: https://www.marketwatch.com/story/boy-scouts-reach-bankruptcy-settlement-with-abuse-victims-groups-11625186603

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