Boy Scouts of America Mulls Filing for Bankruptcy Due to Sex Abuse Lawsuits

They may not be prepared or ready for this but the Boy Scouts of America is considering declaring bankruptcy. The organization has been hobbled by shrinking membership and the spate of expensive sex abuse allegations.

So serious are the plans for such that sources tell the Wall Street Journal that the leaders within the organization have already hired Chicago law firm Sidley Austin to draft a potential Chapter 11 bankruptcy filing.

Facing dwindling membership and hefty costs tied to sexual-abuse lawsuits, Boy Scouts of America considers bankruptcy https://t.co/GwucnI07HR

— The Wall Street Journal (@WSJ) December 12, 2018

As it is, the Boy Scouts of America has already lost about two-thirds of its members or roughly around 4 million boys.

The Mormon Church has also made a large and sensational pull-out from the club, getting 610,000 scouts out over the last two years. Traditionally, scout membership was regarded as a rite of passage for the church followers.

Mormon church pulls older teens out of Boy Scouts (from @AP) #religion https://t.co/h0lN4EJElW

— David Crary (@CraryAP) May 11, 2017

Related Coverage: Mormon Church Cut Ties With Boy Scouts of America Partly For Accepting Gays

Of course, the group has also been rocked by lawsuits after lawsuits over shocking alleged sexual abuses. There was one case filed by four former scouts who described the organization as a “pedophile magnet.” They also made accusations that they were molested by scoutmaster Waldron Ackerman between 1974 and 1976.

Related Coverage: Yahoo Turns In Boy Scouts Leader for Possession of Child Pornography

Some social media users also posted what they say was an email sent to them by the club saying that they are working with experts “to explore all options to ensure that the local and national programming of the Boy Scouts of America continue uninterrupted.”

The letter which remains unverified if it is officially from the club also discusses the group’s “social and moral responsibility” to fairly compensate the victims of abuse.

Got this email from the Boy Scouts of America and it doesn't make me feel so hot... pic.twitter.com/VlpmXMTKTZ

— James (@Jungle_CS) December 12, 2018

Social media users also react differently to the news of the club’s possible bankruptcy filing.

Wow, I didn't know the financial liabilities were so high. The Scouts own/operate a lot of property--I wonder how that would factor. https://t.co/kdfCdKxyaR

— Tony Ganzer (@tony_ganzer) December 12, 2018

Incredible! A venerable American institution maligned with political correctness nonsense may now go bankrupt. Tragic. https://t.co/EJCZ1zG6Wl

— Fernando Amandi Sr. 🇺🇸 (@FernandoAmandi) December 12, 2018

Scouts is one of the finest organizations for young men. The only thing you do as a boy that carries weight as a man. Heartbreaking that so many have attacked Boy Scouts of America. BSA has proven itself weak and unprepared for the onslaught.

— R D McDonough (@Mcdonod53) December 12, 2018

Source:

https://nypost.com/2018/12/12/boy-scouts-of-america-may-declare-bankruptcy/

[tw_tags] #MAGA #KAG #BoyScoutsofAmerica #Bankruptcy #SexualAbuse #DwindlingMembership [/tw_tags]

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