Boy Scouts Of America files for bankruptcy

Transcript

The Boy Scouts of America has filed for bankruptcy.

On Tuesday the youth organization filed a court document in Delaware Bankruptcy Court.

According to the filing, the Boy Scouts is 50-thousand dollars or less in assets but liabilities between 100-million and 500-million in dollars.

This is as it faces hundreds of sexual abuse lawsuits.

The lawsuits allege repeated fondling, exposure to pornography and sexual assault.

Last April, court testimony showed that the organization believed more than 78-hundred of its former leaders were involved in sexually abusing more than 12-thousand children over the course of 72 years.

Now that the Boy Scouts has filed bankruptcy, the lawsuits are suspended for now.

Posted – 2.18.20