COALITION OF ABUSED SCOUTS FOR JUSTICE RELEASES STATEMENT ON HISTORIC BOY SCOUTS OF AMERICA BANKRUPTCY PLAN

The Court Approves Approximately $2.3 Billion in Initial Settlements Negotiated by the Coalition

Coalition Representing Childhood Sexual Abuse Survivors Brokers Largest Sexual Abuse Settlement Fund in History

NEW YORK, July 29, 2022 /PRNewswire/ -- The Coalition of Abused Scouts for Justice ("Coalition"), today commented on the confirmation from the United States Bankruptcy Court for the District of Delaware on the Plan of Reorganization ("the Plan") for the Boy Scouts of America ("BSA").

The Coalition, which was co-founded by Anne Andrews of Andrews & Thornton and Adam Slater of Slater Slater Schulman LLP – and includes key voting members Adam W. Krause, Krause & Kinsman; Deborah Levy, Junell & Associates, PLLC; and Joseph L. Steinfeld, Jr.,ASK LLP – released the following statement:

"Today is a historic day for tens of thousands of survivors of childhood sexual assault. The confirmation of this Plan makes closure possible and some measure of justice tangible for people whose voices have been silenced for far too long. Today's decision means that tens of thousands of people who were abused as children will be eligible for compensation within their lifetime.

"From the beginning, this case has been marked by its scope and complexity. The Court found that the BSA's liability for abuse claims is most likely between $2.4 billion and $3.6 billion, and approved settlements that will provide for initial funding of $2.279 billion to survivors: $78 million from the BSA, $515 million from local councils, $30 million from the United Methodist Church, and $1.656 billion from settling insurers. Notably, all of the initial settlements were negotiated by the Coalition.

"Judge Silverstein reviewed the Plan and concluded that it was proposed in good faith. This was personally important to us, given the large volume of stakeholders in this bankruptcy proceeding, as well as the length of time that has elapsed since the BSA filed for Chapter 11 protection more than two years ago.

"Throughout this case, what we've heard time and again from survivors is that it's not only about the money, because no amount of money in the world will make up for being sexually abused as a child. The most important thing to them has been ensuring the safety of current and future Scouts. That is why the Coalition jointly formed a Survivor Advisory Working Group with the BSA, and secured commitment from the BSA to appoint a survivor to its National Executive Board, and from the Ad Hoc Committee of Local Councils to include survivors to the boards of 250 local councils. For the first time in its 100-year history, survivors will have a seat at the table in the rooms of power and a real voice in youth protection."

The Coalition expects that the BSA will complete its financial restructuring process and emerge from Chapter 11 after the conditions of the Plan are satisfied.

The Coalition was formed in early 2020 and is led by Anne Andrews and Sean Higgins of Andrews & Thornton and Adam Slater and Jonathan Schulman of Slater Slater Schulman LLP. It includes more than two dozen law firms representing more than 70,000 the approximately 82,500 survivor-claimants in the BSA bankruptcy case. Under the terms of the Plan, a comprehensive reorganization of BSA will be completed that will result in more than $2.3 billion in compensation being paid to survivors for the past sexual abuse they suffered as children. The Plan will also implement critical safety measures and protections for current and future generations of Scouts, as well as ensure the BSA has a future beyond bankruptcy.

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SOURCE The Coalition of Abused Scouts for Justice