BSA Bankruptcy
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February 18, 2024 was
FOUR YEARS after the
BSA Bankruptcy was filed.
• There are 82,209 Child Sex Abuse Survivors that are Claimants.
• The Boy Scouts will pay less than 10% ($219 Million) of the $2.46 Billion bankruptcy plan. The rest will be paid by insurance companies and Councils.
• The Boy Scouts will pay more to their attorneys (>$300 Million) than to the Survivors ($219 Million).
On February 18, 2020 (the "Petition Date"), the national organization of the Boy Scouts of America (the “BSA”) and Delaware BSA, LLC (collectively, the “Debtors”) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to achieve two key objectives: equitably compensate victims who were harmed during their time in Scouting and continue to carry out Scouting's mission for years to come. No local councils or other entities are included as Debtors in these cases.
Boy Scouts Settlement Trust Contributions
| Source | Type | Amount |
|---|---|---|
|
Net Unrestricted Cash and Investments |
Cash | $58.9 million |
|
Warehouse and Distribution Center |
Real Property | $11.6 million |
|
Scouting University (net sale proceeds) |
Cash | $1.9 million |
| Artwork | Asset | $59.0 million |
|
Oil and Gas Interests |
Asset | $7.6 million |
|
BSA Settlement Trust Note |
Note Payable | $80.0 million |
| Total Estimated BSA Settlement Trust Non-Insurance Contribution | $219 million | |