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$850 million settlement will be paid by the Boy Scouts of America after 60,000 people have claimed sexual abuse.
Now, the BSA has to give over insurance rights to a trust that would handle claims and pay victims. The BSA would pay $250 million. Local councils or franchises would pay $650 million. Victims are still permitted to sue insurers and former insurers for payment. In this way, BSA can avoid bankruptcy.
The BSA said all together $2.4 billion and $7.1 billion could be ready in order to pay an approximated 82,500 victims. That cost could total $103 billion.
The BSA applied for bankruptcy last year after member numbers decreased and sex- abuse payouts happened.
Many of the cases are from decades ago. Those cases are prior to the 80’s policy of two adults supervising scouts.
A hearing on the settlement will take place on July 20.
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