According to WSLS, "Barraged by hundreds of sex-abuse lawsuits, the Boy Scouts of America filed for bankruptcy protection Tuesday in hopes of working out a potentially mammoth victim compensation plan that will allow the 110-year-old organization to carry on." This looks to be one of the BIGGEST bankruptcies ever seen - and the reason behind it? Thousands of men have come forward saying they were molested by scoutmasters/leaders - and because of recent changes to the statues of limitations laws, consequences can now be had.
While it's reported that local councils are going to be fine since they're separate from the national 'Boy Scouts of America', now, the bankruptcy assets are between $1 billion and $10 billion (Yep. You read that right), and the liabilities are between $500 million to $1 billion. WSLS also states that this is the bigger than any other child abuse bankruptcy ever seen.