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Consumer Law

Former Boy Scouts Will Vote on a $1.8 Billion Bankruptcy Plan

More than 300 former scouts from Western New York with sex abuse claims against the Boy Scouts of America are getting a chance to vote on a proposed bankruptcy reorganization plan that would settle claims of 82,000 former scouts nationwide for $1.8 billion.

Voting has been underway for weeks and, if approved, the plan could stave off most lawsuits against local scout councils, including three in Western New York.

The settlement proposal faces a huge hurdle: The Official Committee of Tort Claimants, which consists of nine abuse survivors appointed as fiduciaries for all claimants as part of the bankruptcy process, opposes it and is urging anyone who filed a claim with the bankruptcy court to vote it down. If evenly divided, the current settlement trust would amount to about $22,500 per claimant.

Read the source article at buffalonews.com

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