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CSX BREAKROOM

PAYSON, UT - JULY 31: A Boy Scout salutes the American flag at camp Maple Dell on July 31, 2015 outside Payson, Utah. The Mormon Church is considering pulling out of its 102 year old relationship with the Boy Scouts after the Boy Scouts changed it's policy on allowing gay leaders in the organization. Over 99% of the Boy Scout troops in Utah are sponsored by the Mormon Church. (Photo by George Frey/Getty Images)

NBC News is reporting that because of mounting legal cost stemming from lawsuits alleging sexual abuse of boys, The Boy Scouts of America has filed for bankruptcy. In a statement, the organization explains that they filed to “equitably compensate victims who were harmed during their time in Scouting and continue carrying out its mission for years to come. The BSA intends to use the Chapter 11 process to create a Victims Compensation Trust that would provide equitable compensation to victims.”

Roger Mosby, president and CEO of Boy Scouts of America, says, “The BSA cares deeply about all victims of abuse and sincerely apologizes to anyone who was harmed during their time in Scouting. We are outraged that there have been times when individuals took advantage of our programs to harm innocent children.” He adds, “While we know nothing can undo the tragic abuse that victims suffered, we believe the Chapter 11 process — with the proposed Trust structure — will provide equitable compensation to all victims while maintaining the BSA’s important mission.”

There are currently victims from all 50 states involved in this lawsuit. One Seattle-based lawsuit alone represents over 300 victims. Michael Pfau, one of the lawyers in Seattle, says, “You’re looking at thousands of abuse survivors making claims. This is much bigger than the bankruptcy filings involving the Catholic Church.”

Boy Scouts of America adds that scouting is currently safer than ever. “Approximately 90% of pending and asserted abuse claims against the BSA relate to abuse that occurred more than 30 years ago.”