Story at a glance
- The Boy Scouts of America have reached a settlement for its 60,000 sexual abuse victims.
- The $850 million settlement comes as the organization restructured from its bankruptcy case.
- The organization will pay $250 million while its local franchises will pay $600 million.
The Boy Scouts of America have reached a settlement for its 60,000 sexual abuse victims as it restructures from a bankruptcy case.
The Boy Scouts on Thursday reached the $850 million settlement, which sees the organization handing over insurance rights to a trust for the victims, with the organization paying $250 million while its local franchises will pay $600 million.
Victims will still be able to pursue insurers and former insurers for damages.
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The settlement will allow the Boy Scouts to stave off bankruptcy “while providing meaningful compensation to the victims, and holding the Boy Scouts’ insurers to the terms of the insurance policies purchased by the Boy Scouts and their affiliates over many decades,” lawyers representing the victim groups said in a statement, according to The Associated Press.
“After months of intensive negotiations, the debtors have reached resolution with every single official and major creditor constituency,” attorneys for the Boy Scouts said.
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