IRVING, Tex. (CNN) - Boy Scouts of America is back in the spotlight after the organization filed for bankruptcy on Tuesday in Delaware.
In the filing, BSoA reported between 1 billion to 10 billion dollars in assets, and an estimated 500 million to one billion dollar in liabilities.
This all comes as BSoA faces hundreds of sexual abuse lawsuits involving thousands of alleged abuse victims.
The 110 year old organization responded, saying they
"Care deeply about all victims of child abuse and sincerely apologize to anyone who was harmed during their time in scouting."
Adding they were "outraged that there have been times when individuals took advantage of our program to abuse innocent children."
In an open letter to victims, the BSoA says the organization entered bankruptcy in order to compensate victims.
This also means victims will not have their day in court, and instead will have to go through a bankruptcy court in order to make a claim.
As for victims that have not come forward against boy scouts of america, time is limited.
If you are a victim or would like to make a claim, call BSoA's restructuring hotline and follow their prompts at 866-907-2721.
Stay with WVVA for updates.