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FTI Consulting is handling the Chapter 11 filing of Boy Scouts of America as the 110-year-old group uses the process to create a Victims Compensation Trust to arrange financial settlements with the thousands of men who say they were molested by scoutmasters.
The filing lists BSA assets from $1B to $10B and liabilities from $500M to $1B.
The Associated Press compares the BSA sex abuse scandal to that of the Catholic Church outrage and predicts court proceedings “could be one of the biggest, most complex bankruptcies ever seen.”
The abuse fallout has cut the number of youths participating in BSA programs in half from more than 4M during the 1970s to less than 2M today. The BSA has tried to counter that decline by admitting girls to its program.
Roger Mosby, BSA CEO, said while the organization can’t undo the trauma suffered by victims of sex abuse, the proposed Trust will “provide equitable compensation to all victims while maintaining the BSA’s important mission.”
Local BSA councils are separate legal enties from Irving, TX-headquartered BSA. They are not involved in the Chapter 11 filing.
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FGS Global’s Paul Holmes, Molly Levinson of TLG Communications. Trident GMG’s Joshua Galper and Brunswick Group’s Ellen Moskowitz all placed in the top level (Tier 1) of individual practitioners in the recently released Chambers rankings for both crisis & PR communications pros and those working in litigation PR & communications.
Gregg Feistman, M.A., Professor of Practice in Public Relations at Temple University and former corporate communications executive, joins Taking the Lead to discuss the frameworks leaders can use to determine when to speak up or stay silent.
Sam Singer, the Bay Area’s go-to crisis PR guy, today celebrated his client OpenAI’s “tremendous victory” over Elon Musk.
Deepfakes have crossed a critical threshold from an emerging concern to an effective tool, where any public figure is now a target for AI-enabled reputational manipulation. Here’s what PR pros need to know.
