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Boy Scouts get conditional approval of $850M bankruptcy deal

today08/20/2021 12

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DOVER, Del. (AP) — A bankruptcy judge has approved a proposal by the Boy Scouts of America to set up an $850 million fund to compensate tens of thousands of men who say they were sexually abused as youngsters by scout leaders.

But the judge on Thursday also rejected two key provisions of the deal, potentially jeopardizing the agreement that the organization had been hoping to use as a springboard to emerge from bankruptcy later this year.

It was not immediately clear how Thursday’s ruling will affect the future of the bankruptcy case for the Texas-based organization.

 

Source: AP – All contents copyright 2021 Associated Press.  All rights reserved.

 

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