COURT: Boy Scouts of America updates Chapter 11 plan, seeking USD 425m contribution from local councils

The Boy Scouts of America filed an amended Chapter 11 plan and disclosure statement today, increasing the proposed contribution from local councils to USD 425m for sexual-abuse settlements.   

 

The previous version of the plan had set that contribution at USD 300m. The Boy Scouts of America’s amended disclosure statement also sets estimated ranges for the aggregate payout and recovery for sexual-abuse victims, although the organization has said it will need the bankruptcy court’s help in estimating its overall sexual-abuse liability. The disclosure statement estimates that that the Boy Scouts of America will pay USD 2.4bn to USD 7.14bn to sexual-abuse victims, representing a recovery of 8% to 23% for direct abuse claims.  

 

by Dietrich Knauth