Boy Scouts File Fourth Plan Amended Chapter 11 Plan

Last week the Boy Scouts of America filed their fourth amended Chapter 11 plan. The PDF of their filing is almost 500 pages and, since I am not a bankruptcy person, I’m not going to go through all of it.

But the AP has a story raising some highlights of the filing. It looks like the big resolutions are that local councils have agreed to contribute $600 million to a fund for victims, which doubles their previous offer, in exchange for release from liability.

There are still some sticking points but, according to the AP, those sticking points are largely between the victims of sexual abuse and the Boy Scouts’s insurers.

As I’ve said before, given both the size of the Boy Scouts and the size of the potential settlement, this is one of the biggest nonprofit stories in a long time. It’s worth continuing to keep an eye on.

Samuel D. Brunson