Boy Scouts bankruptcy will establish a trust for victims

Allegations of sexual abuse began surfacing decades ago, but the organization kept those allegations private until recently, when lawsuits exposed them. Those files showed that the organization knew of many allegations but took few or inadequate measures to keep kids safe. The Boy Scouts filed for bankruptcy last year with the plan of offering a trust to compensate these victims. The organization estimates that the victims will likely require between $2.4 billion and $7.1 billion, based on the current claims. A committee representing the victims, however, estimates that $100 billion will be needed to compensate the tens of thousands of likely victims. Hopefully, the bankruptcy judge will put a halt to these extravagant legal fees, which allegedly include lawyers making $600 an hour even though they just completed law school. By August, when the deadline to file new claims arrives, the fee requests could reach $150 million.