On March 4, the United States Trustee overseeing the BSA’s Chapter 11 bankruptcy process appointed two committees to represent key groups as part of the Chapter 11 case.
The first committee represents survivors of past abuse in Scouting. The BSA intends to use the Chapter 11 process to create a compensation trust that would provide equitable compensation to victims. The committee representing survivors will have a voice in how that Trust will be structured, among other matters.
The second committee, the official committee of unsecured creditors, represents a broader group of vendors and other BSA creditors to ensure their interests are represented in the BSA’s restructuring proceedings.
The appointment of these types of committees is a standard step in any organization’s Chapter 11 case and clears the way for the process to move forward. The committees have also each selected legal and financial advisors.