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The Boy Scouts of America is weighing filing for bankruptcy protection, according to a new report.
The group’s leaders have brought on the Sidley Austin law firm to provide support in the event of a chapter 11 bankruptcy filing, sources familiar with the situation told the Wall Street Journal.
The article goes on to state the following:
The potential move coincides with a decline in membership and mounting legal fees connected to a series of lawsuits related to the organization’s management of sexual abuse allegations.
For example, four men sued the Boy Scouts in July, accusing the group of not taking appropriate action to prevent an accused serial pedophile from leading a troop in the 1970s. The lawsuit alleges the scout leader sexually abused the Boy Scouts between 1974 and 1976, and it claims that the national organization was aware that scouting had become a “pedophile magnet” but didn’t take appropriate action to prevent abuse from occurring.
If the Boy Scouts did file for bankruptcy, the litigation would be stalled and the group could try to hash out an agreement with those who brought the lawsuits against them.
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