Currently, the Boy Scout abuse settlement amounts are being speculated. After around 92,000 sexual abuse claims were filed against Boy Scouts of America, Chapter 11 bankruptcy was filed by the organization for compensating plaintiffs. No matter what the Boy Scout abuse settlement amount would be, it won’t heal the physical and mental torture that the claimants went through.
Though no financial compensation could be enough as compared to such immense misery and grief that these victims suffered at such a young age, it is their right to get compensation for harassment and injuries to ensure justice.
Following are the 5 things everyone should know about the Boy Scout abuse settlement amounts process.
How much asset does BSA have?
Before learning about Boy Scout abuse settlement amount, one should comprehend how much asset the Boy Scout of America comprises. It was found that BSA had approximately $1 billion when they filed the bankruptcy claim. Moreover, the money of BSA is also invested in different places. $680 million is in bonds and stocks, $55 million in banks, and $102 million in real estate. Several camps are also owned by local councils nationwide. According to the latest tax files, $285 is the total BSA revenue while the assets are around $1.4 billion.
For ensuring limited liability, several proposals were proposed after the bankruptcy claim. Compensations will be driven from all resources even though Boy Scouts of America said that these councils happen to be financially independent. A Trust will also be created by BSA for paying Boy Scout abuse settlement amounts to victims. After the reorganization plan is agreed upon by the bankruptcy court, the organization will get money for paying victims. The received cash amount will be decided on the basis of the number of victims, assets settlement, and insurance policies.
The Insurance trouble
In the 1980s, insurance companies started excluding children from sexual abuse because they considered that it was just a liability as the pay-outs are very high. In this particular scenario, insurance companies have refused to pay out the Boy Scout abuse settlement amount. The particular reason behind this step is they consider BSA responsible for such negligence as they could have taken necessary steps for preventing such unfortunate events.
How much will victims receive?
The boy scout abuse settlement amount and number of filed cases against BSA have a certain similarity to the infamous sex abuse case of the Catholic Church. It is not easy to determine how much money victims will receive from the Boy Scouts of America and how much will organization’s insurers will contribute. The insurers, creditor committee, and BSA are currently negotiating to decide on a suitable settlement amount. Although, it is safe to assume that the compensation amount will rely on the sereneness of their suffering, the level of claims, and the duration of the abuse at the hands of BSA’s scoutmasters.
For estimating the boy scout abuse settlement amount, we can speculate the case of the Catholic church for guidance. More than 500 victims made sexual abuse claims against the catholic church and the settlement amount decided was $600 million. In the BSA case, the number of plaintiffs is much higher, that is why it is predicted that the total settlement amount would be in billions.
Will each survivor receive compensation?
This is a tricky question. The thing to consider is that this isn’t a class-action lawsuit. That being said, not each survivor will necessarily receive a boy scout abuse settlement amount. For receiving a fair portion of compensation, every survivor must file a claim individually. Then, the compensation amount will be decided based on the scale of misconduct.
Have you been subjected to sexual abuse as a child?
Sexual abuse or misconduct is a painful experience. It tends to have a long-lasting impact on the physical and mental wellbeing of the victim. Particularly, when a person in an authoritative position abuses the victim such as a supervisor, parent, or teacher, it makes it difficult for the victim to trust anyone in the foreseeable future. The only way one can regain strength and recover is through seeking help.
If you think that you can take a stand against the sexual abuser, then you should get in touch with a reliable and trustworthy lawyer. Doing so will help to strengthen your claim. It might be difficult to gather data and evidence, particularly if you were sexually abusing a while ago. But a professional lawyer can assist you in receiving the Boy Scout abuse settlement amount that you deserve.