Attorneys in the Boy Scouts of America bankruptcy case have reached a tentative settlement under which one of the organization’s largest insurers would contribute $800 million into a fund for victims of child sexual abuse.
The agreement announced Monday calls for Century Indemnity Co. and affiliated companies to contribute $800 million into the fund in return for being released from further liability for abuse claims. The payment would bring the amount of money in the proposed trust to more than $2.6 billion, which would be the largest sexual abuse settlement in U.S. history.
The plan also includes settlement agreements involving another one of the Boy Scouts’ major insurers, The Hartford, and the BSA’s former largest troop sponsor, the Church of Jesus Christ of Latter-day Saints, commonly known as the Mormon church. The Hartford has agreed to pay $787 million into the victims’ fund, and the Mormons have agreed to contribute $250 million. In exchange, both entities would be released from any further liability involving child sex abuse claims.
The Boy Scouts, based in Irving, Texas, sought bankruptcy protection in February 2020, seeking to halt hundreds of individual lawsuits and create a fund for men who say they were sexually abused as children. Although the organization was facing 275 lawsuits at the time, it’s now facing more than 82,000 sexual abuse claims in the bankruptcy.
The coalition, which is affiliated with more than two dozen law firms, has played a dominant role in the bankruptcy despite the existence of an official committee charged with representing the best interests of all abuse claimants. It also has been at the center of various disputes over information sharing and how the BSA’s reorganization plan and trust distribution procedures were crafted.
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Insurer agrees to $800M settlement in Boy Scouts bankruptcyAttorneys in the Boy Scouts of America bankruptcy case have reached a tentative settlement under which one of the organization’s largest insurers would contribute $800 million into a fund for victims of child sexual abuse. The agreement announced Monday calls for Century Indemnity Co. and affiliated companies to contribute $800 million into the fund in return for being released from further liability for abuse claims. The payment would bring the amount of money in the proposed trust to more than $2.6 billion, which would be the largest sexual abuse settlement in U.S. history. The settlement comes as more than 82,000 sexual abuse claimants face a Dec. 28 deadline to vote on a previously announced Boy Scouts reorganization plan.
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