USA Gymnastics

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The Boy Scouts of America has More Than two million members

The Boy Scouts of America (BSA) has filed for bankruptcy protection in a move that The Group says Will allow the establishment of a Fund for the compensation of victims of sexual abuse.

The Move follows a series of lawsuits against the organization, on claims for sexual abuse claims, it could not prevent hundreds of cases.

As a result of the movement, all civil actions against him put on ice.

The Group is struggling with declining membership, as well as the abuse claims.

"The BSA cares deeply about all who are the victims of abuse, and sincere apologies to anyone who was in The Boy harmed during their time in the path. We are outraged that there have been times when people have used our programs to harm innocent children," chief executive Roger Mosby, said in a statement.

court papers filed in Delaware, listed debt of up to $1 billion (£768m) and assets of as much as $10bn, reports say.

One of the largest non-profit youth organizations in the United States, the BSA was founded 110 years ago,

The filing was under Chapter 11 of the US bankruptcy code, which allows to keep The Group , and pay its creditors over time.

The bankruptcy allows the organization of all suits in a court and try to negotiate a settlement, instead of its resources to fight each case in court.

The Group said it is setting up a Trust Fund to compensate victims.

"While we know that nothing can be undone, the tragic abuse that the victims have suffered, we believe the Chapter 11 Process - with the proposed trust structure is the appropriate compensation of all victims, while maintaining the BSA's important mission,"

The BSA 261-councils, the reported on-site troops and own assets, to operate, including the country in many States, the Wall Street Journal (WSJ) has. Tuesday's move bankruptcy is designed to protect those councils, which hold about 70% of the BSA's assets,

In its statement, the BSA said of the councils that had not legally Autonomous and financially independent from The National organisation, in the bankruptcy. be

Boy Scouts of America, Ex-Secretary of State , Rex Tillerson is a former President of the BSA

Other non-profit organizations on various sexual demands, including the Catholic Church and the Usa Gymnastics , misuse, also have creditors sought protection in recent years in The Face of sexual abuse lawsuits.

The BSA in front of hundreds of allegations of sexual abuse in several States.

Last year, the miss path finder needs The Group began advertising the country, and has been>for almost 2,000 people with complaints, including in every State ,
united states, child abuse

Source of news: bbc.com