"We will now negotiate with the insurers and sponsoring and chartering organizations who have billions of dollars in legal exposure, of which a substantial portion is necessary to fairly compensate the survivors," attorney Ken Rothweiler said on Thursday.
Membership in the Boy Scouts of America programs dropped an unprecedented amount in the past year due to the pandemic and social trends.
Assistant Scout Master Andy Waltrip said the children were not initially "freaked out" by the discovery, thinking they had found "chicken bones."
Matthew Baker, 51, abused at least five children under his care from 2010 to 2018 while volunteering as a Cub Scout den leader in O'Fallon, Missouri. Prosecutors believe there could be other victims.
The national organization's failure to protect children from sexual abuse and increasing politicization have damaged the program that changed my life beyond repair.
Local councils—legally distinct from the national organization—dismissed the notion that bankruptcy would jeopardize their ongoing activities.
"I felt honestly more incensed by their concealment than my abuse when I was a child," said one plaintiff, now in his 60s, about the BSA's alleged coverup of sex-abuse cases.
A new lawsuit, filed on Monday, accuses the BSA of facilitating "a continuing and serious conspiracy to conceal and cover up" sexual assaults against children within their organization.
"The Church has increasingly felt the need to create and implement a uniform youth leadership and development program that serves its members globally."
The president claimed his controversial speech had been praised by the organisation's leaders.
The Church of Jesus Christ of Latter-day Saints is reviewing its century-long relationship with the Boy Scouts.
The executive board met Monday to ratify a resolution to allow adults of any sexual orientation to lead scouts.