The US Boy Scouts have reached an $850 million settlement with abuse victims, making it the largest sexual abuse settlements ever reached in US history, with some 60,000 victims set to receive a payout.

The Boy Scouts of America is currently battling bankruptcy, and lawyers representing it disagree with the abuse victims' lawyers over how the scouting organization's restructuring plan would aptly compensate the victims and also satisfy the group's creditors.

The attorneys eventually reached agreements. In joint statements, they claimed the restructuring plan 'will allow the Boy Scouts to successfully emerge from bankruptcy while providing meaningful compensation to victims and holding the Boy Scouts' insurers of the terms of the insurance policies purchased by the Boy Scouts and their affiliates over many decades.'

Nine years ago, the Los Angeles Times revealed that the organization had thousands of records detailing sexual abuse by scout masters, most of which had not been reported to the authorities.

While it's hoped that the settlement will provide some sort of closure to victims, it has yet to be rubber-stamped by a judge or an official court.