The Boy Scouts of America filed for chapter 11 bankruptcy protection Tuesday in the face of thousands of lawsuits alleging that its employees and volunteers sexually abused the children in their care.
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The Delaware Bankruptcy filing will help shield the Boy Scouts’ coffers while the organization faces the prospect of compensating hundreds, if not thousands, of alleged sex abuse victims. The national Boy Scouts council has roughly $1.4 billion in assets. Its affiliated nonprofits, like its local councils, have another $3.3 billion in assets.
