Boy Scouts of America files for bankruptcy amid challenges over lawsuits alleging abuse

The Boy Scouts of America, one of the largest youth organizations in the United States, has filed for Chapter 11 bankruptcy protection as it faces legal challenges defending itself against lawsuits alleging sexual abuse.

The organization said on Tuesday the bankruptcy aims to compensate victims who were harmed during their time in scouting and that it will create a "victims compensation trust" to execute the process.