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Civil Plaintiff

Boy Scouts to Exit Bankruptcy Following the Approval of a $2.46B Settlement

The Boy Scouts of America secured approval of a $2.46 billion reorganization plan from a bankruptcy judge on Thursday that will allow the youth organization to exit Chapter 11 and settle decades of claims by more than 80,000 men who say they were abused as children by troop leaders.

U.S. Bankruptcy Judge Laurie Selber Silverstein in Wilmington, Delaware signed off on the restructuring plan after the Boy Scouts made changes to address portions of a previous settlement proposal she had rejected.

The biggest change in the amended plan was the removal of a $250 million settlement payment from the Church of Jesus Christ of Latter-day Saints, which Silverstein refused to approve.

Read the source article at usnews.com

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