The Boys Scouts of America’s $2.4 billion bankruptcy reorganization plan is formally in effect
DOVER, Del. — — The Boys Scouts of America's $2.4 billion bankruptcy reorganization plan took effect Wednesday. But more time will be needed before survivors of child sexual abuse at the hands of Boy Scout leaders and volunteers begin receiving compensation.
Doug Kennedy, co-chair of the bankruptcy’s official committee of abuse claimants, said survivors can now “take an important step toward a degree of resolution for their abuse.” Meanwhile, U.S. Bankruptcy Judge Laurie Selber Silverstein held a hearing Wednesday to consider requests that the Boy Scouts be allowed to pay more than $20 million in legal fees and expenses of attorneys for a coalition of law firms representing those who claim to have been abused. Those law firms are expected to take roughly 40% of any payments to clients from the trust.
Silverstein in 2021 rejected a previous proposal for the Boy Scouts to pay millions of dollars in fees and expenses of attorneys hired by coalition law firms. The judge noted that any such payment would come out of the pockets of abuse claimants, a concern she reiterated Wednesday. “Should their fees be paid when I have a group, an official committee, that is charged and has a fiduciary obligation to the entire survivor constituency? I’m struggling with that,” said Silverstein, who did not immediately rule.
Other insurers, many of which provided excess coverage, have refused to settle. They contend that the procedures for distributing funds would violate their contractual rights to contest claims, set a dangerous precedent for mass tort litigation, and result in grossly inflated payments.
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