Judge Laurie Selber Silverstein has approved most of the BSA’s proposed Plan of Reorganization. This ruling represents a significant milestone in the BSA’s financial restructuring. The BSA’s proposed Plan already won overwhelming support from survivors of past abuse in Scouting, with more than 85% voting to approve it.
The BSA is pleased that the Court recognizes the value of the its proposed Plan, and overruled the vast majority of objections to confirmation. As the Court noted, “this is an extraordinary case crying out for extraordinary solutions,” and “[t]he combination of the monetary and non-monetary aspects of the Plan are fair to the holders of Abuse Claims.” The BSA is committed to working with all constituents to make the necessary changes required by the ruling to drive this process forward and we remain optimistic about securing approval of a final Plan as soon as possible.
The BSA continues to be enormously grateful to the survivor community, whose bravery, patience, and willingness to share their experiences has been instrumental in the formation of this Plan. Survivors have devoted a great deal of time and effort in this process, and this will have a lasting impact on the organization—their perspectives and priorities are captured throughout this Plan and will be ingrained in the BSA’s programming moving forward.