By: Monya Cohen
Due to the magnitude of sexual-abuse lawsuits filed by numerous Boy Scouts of America (“BSA”) adversaries, from both former and current Boy Scout members, BSA filed for Chapter 11 bankruptcy earlier this year. BSA is an extremely complex organization with several different levels of business, including an array of local councils that have charters through the BSA that run the day-to-day operations of the organization. For that reason, BSA poses one of the most complex financial restructurings in history. BSA has an estimated 275 lawsuits pending in state and federal courts asserting abuse-related claims against them. In addition, there are more 1,400 survivors with “to-be-brought” claims, and as a result, drove BSA to file for bankruptcy to determine survivor’s damages, as well as keep the organization running without completely dissolving it