On February 18, 2020 (the "Petition Date"), the national organization of the Boy Scouts of America (the “BSA”) and Delaware BSA, LLC (collectively, the “Debtors”) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to achieve two key objectives: equitably compensate victims who were harmed during their time in Scouting and continue to carry out Scouting's mission for years to come. No local councils or other entities are included as Debtors in these cases.
Source | Type | Amount |
---|---|---|
Net Unrestricted Cash and Investments |
Cash | $58.9 million |
Warehouse and Distribution Center |
Real Property | $11.6 million |
Scouting University (net sale proceeds) |
Cash | $1.9 million |
Artwork | Asset | $59.0 million |
Oil and Gas Interests |
Asset | $7.6 million |
BSA Settlement Trust Note |
Note Payable | $80.0 million |
Total Estimated BSA Settlement Trust Non-Insurance Contribution |
$219 million |
Boy Scouts of America and Delaware BSA, LLC