Boy Scouts Win Court Approval of $2.46 Billion Abuse Fund (1)

The Boy Scouts of America won court approval to exit bankruptcy by creating the biggest ever US trust fund for sex abuse victims.

US Bankruptcy Judge Laurie Silverstein signed an order Thursday approving a plan to end the more than two-year-old bankruptcy that is built on a $2.46 billion victim fund.

Tens of thousands of men who claim they were sexually abused while in the Boy Scouts will be able to apply to the fund for compensation. Their claims will be evaluated and paid based on complex rules and formulas negotiated while the group was in bankruptcy.

In July, Silverstein ...