In exchange for the payment, the
The settlement agreement and release was submitted to the court on Friday by a panel of mediators that is working with the BSA, abuse victims and other parties in the bankruptcy to try to fashion a global resolution of more than 80,000 sexual abuse claims.
“Our agreement with The
According to the court filing, The Hartford’s payment will be reduced if, after the agreement is signed, the BSA or the settlement trust enters into an agreement with another insurer,
Even without the possible reduction in The
“It’s outrageous.... Their real liability is in the billions of dollars," said
“This is just business as usual for the
“We think their exposure is
The agreement with The
The previous plan called for a
The new plan increases the contribution from local councils to
Should abuse victims not approve the new plan, the BSA — which says it needs to exit bankruptcy by late summer — would turn to an alternative BSA-only plan. Under that plan, the settlement trust would be funded only by the BSA, and only for claims made against the national organization, not local councils. The councils and local sponsoring organizations such as churches and civic groups would make no contribution to the settlement trust and would have no protection from liability for abuse claims.
Depending on which plan is used, the BSA estimates the amount of money to be available for abuse victims at between
The official tort claimants committee estimates the value of some 84,000 sexual abuse claims at about
Attorneys for abuse victims have said from the start that they would go after properties and assets owned by local councils to contribute to a settlement fund. The local councils, which run day-to-day operations for local troops, are not debtors in the bankruptcy and are considered legally separate entities by the