The Boy Scouts of America have reached a US$850 million (NZ$1.2 billion) agreement with attorneys representing some 60,000 victims of child sex abuse in what could prove to be a pivotal moment in the organisation’s bankruptcy case.
The agreement filed in court by BSA attorneys yesterday would mark one of the largest sums in US history involving cases of sexual abuse. The filing, known as a restructuring support agreement, includes the BSA, abuse victims, local Boy Scouts councils and lawyers appointed to represent victims who might file future claims.
After months of intensive negotiations, the debtors have reached resolution with every single official and major creditor constituency.
BSA attorneys