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Boy Scouts of America files for bankruptcy. Hundreds of sexual abuse lawsuits are now on hold

(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.