BOY SCOUTS RELEASE BANKRUPTCY PLAN

The Boy Scouts of America released a bankruptcy reorganization plan late Monday calling for local councils to contribute at least $300 million to a trust to settle tens of thousands of sexabuse claims. The long-awaited reorganization plan, filed as part of the Boy Scouts’ Chapter 11 bankruptcy proceedings, begins to outline how the organization aims to compensate the deluge of about 85,000 potential victims who came forward last year with claims. But lawyers on behalf of both the victims and the group’s insurers say they are unsatisfied with the plan. The Boy Scouts of America, which filed for bankruptcy in February 2020, had initially sought to shield its local councils from the bankruptcy process.