Additional negotiations with sponsoring and chartering organizations that “have billions of dollars in legal exposure” are planned, said Ken Rothweiler, whose Philadelphia law firm represented more than 16,000 survivors.
“This significant step toward a global resolution benefits the entire Scouting community, as this agreement will help local councils make their contributions to the Trust without additional drain on their assets, and will allow them to move forward with the national organization toward emergence from bankruptcy,” BSA said in its release.
Noted Rothweiler: “I am pleased that both the BSA and their local councils have stepped up to be the first to compensate the survivors.”
The youth organization, which celebrated its 110th anniversary last year, listed liabilities of between $100 million and $500 million and estimated assets of $1 billion to $10 billion.
“The Boy Scouts of America filed for Chapter 11 bankruptcy to achieve two key imperatives: equitably compensate survivors who were harmed during their time in Scouting and continue to carry out Scouting’s mission for years to come,” the organization previously said in a statement.