The Boy Scouts of America (BSA) is planning to sell off dozens of Norman Rockwell paintings and oil and gas interests in 17 states as it aims to raise funds for settlements with sexual abuse survivors.
In a filing in bankruptcy court, the Boy Scouts listed nearly 60 of pieces of art by Rockwell as potential assets that could be sold in an attempt to settle the nearly $300 million in damages the survivors are seeking, according to The New York Times.
“The plan demonstrates that considerable progress has been made as we continue to work with all parties toward achieving our strategy to provide equitable compensation for victims and address our other financial obligations so that we can continue to serve youth for years to come,” the Boy Scouts said in an email to the Times on Tuesday.
Many of the paintings were commissioned by BSA as part of “The Boy Scouts Hike Book” in 1912. The paintings include “The Right Way,” “On My Honor” and “I Will Do My Best,” the Times reported.
The Boy Scouts also said it would sell off rights to oil and gas interests at various locations in across the country, a warehouse facility in North Carolina and a Scouting University in Texas,
CBS News reported.
The BSA has pledged up to $220 million for a trust for victims, with another $300 million coming from local organizations.
“There are still many aspects of the Plan that we are refining through ongoing mediation, but the amended Plan is an important step in demonstrating progress that we believe will ultimately lead to a final plan that the Bankruptcy Court will confirm,” the BSA
told The Hill this week. “In the coming months, supplements to the Plan will include a more detailed breakdown of the process to compensate survivors and more details about how local councils will support this effort. We are hopeful we can come to a resolution that is in the best interest of survivors and all parties and can emerge from Chapter 11 by this fall.”
BSA is reportedly facing more than 80,000 damage claims relating to sexual abuse and filed for bankruptcy early last year.
