(CNN) – The Boy Scouts of America has filed for bankruptcy, according to a court document filed in Delaware bankruptcy court early Tuesday. The youth organization, which celebrated its 110th anniversary February 8, listed liabilities of between $100 million and $500 million and estimated assets of $1 billion to $10 billion.
The bankruptcy filing comes at a time when the organization faces hundreds of sexual abuse lawsuits, thousands of alleged abuse victims and dwindling membership numbers. As a result of the filing, all civil litigation against the organization is suspended.
Paul Mones, a Los Angeles-based attorney representing “hundreds of sexual abuse victims in individual lawsuits,” called the organization’s bankruptcy filing a “tragedy.”
“These young boys took an oath. They pledged to be obedient, pledged to support the Scouts and pledged to be honorable. Many of them are extremely angry that that’s not what happened to them and the Boy Scouts of America did not step up in the way they should have,” Mones said.
Last April, exposed court testimony showed the organization believed more than 7,800 of its former leaders were involved in sexually abusing more than 12,000 children over the course of 72 years.
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