johnsch322

If I read the filing correctly the firms that are mentioned represent 65,554 claims. Not all were signed by the lawyers but it doesn't put the rest of their claims in a good light.

I just read this document and it is appalling what is alleged. Previously I have been opposed to rooting out false claims at this stage but I have now changed my mind. if this process takes a little longer I am personally OK with it. The unfortunate aspect of this may be that some legitimate claims may be lost because of unscrupulous practices. My lawyer did sign my final claim (he is not on the lists in the filing) but that was with my blessing and after multiple phone calls developing my claim.

Can someone help me out understanding what the ramifications would be if true that AIS and other lawyers may have been funded by Wall Street and that the loans are due? If those lawyers pushed thru a settlement that wasn't good for their clients but mostly based on the need to pay back loans would that leave them open to malpractice claims?

I have been sitting back for the past week or so reading everyone's comments and trying to assess my own feelings. I was appalled when I read attacks against the TCC members who I have felt have given their all to what has been going on. I have thought about the first Town Hall where they all said that this was a steep learning curve for themselves and I have wondered how they feel at this point. My conclusion is they must feel a lot like most of the rest of us.....hurt, confused, and wondering what will happen next. I also recalled the night before the last Town Hall when the word was that something was happening and there might be a deal. I distinctly got the impression that they were discussing whether to sign on or not. It must have been gut wrenching for them. My therapist asked me this week what justice would look like in my own eyes as an outcome. I was quick to tell her that there is no justice only restitution that would never go far enough. I told her that I had to look for some kind of silver lining and for me it's that I have had the revelation of what has caused my past behaviors and that I am now on a path to come to grips with them and not let what happened be the most dominant force in what life I have left to live. I know the litigation is not over and will be something I will have emotional ups and downs for the foreseeable future. I have no crystal ball to read the final outcome but I do know that I am in a better space now then I was three years ago before all of this started. I also with gods grace will be at the finish line.

You are correct. At minimum you could get $3500 if you don’t want to pursue further.

But if there is no way to recover from the insurance company's under this plan since there some thoughts that one can no longer sue than what would be defending. In other words I believe they will defend/defend and eventually pay because they are still liable and they know they are. I think my question was what might be called rhetorical? Maybe that's the wrong word.

So the question I will ask is: if there is no way that the insurance company's can be sued then why aren't all the insurance company's endorsing the plan?

I'm sorry Muttsy I didn't know it was you I sold that car to. But you really liked it when you bought it.

I am sure that the insurance carrier would be able to defend in court and these would be jury trials. The slam dunks would be cases where the preponderance of evidence would be pretty overwhelming. It would be explained to the jury that the fact that BSA has BK’ed but that fact has no meaning to the facts. If found liable the court/jury would assign damages and whatever portion would be the insurance carriers would have to be paid by them. That is a bit of simplification but it would be a fair process. It is basically what would have happened if BSA did not enter bankruptcy.

I believe that the lawsuits can be filed against BSA and LC’s but only the insurers would have to actually pay. One of the more knowledgeable members would know more than myself.

From my understanding and what some others here have said is that there will be attempts at settlements with the carriers (I.e. Hartford Settlement but for larger amounts) and if that doesn’t succeed there will be individual lawsuits filed in state courts to bring pressure. If a settlement can accomplished between the trustee and carrier’s that money will be awarded thru the settlement trust.

That is the 100 Billion dollar question. Someone said that the survivors on this forum are not representative of the average survivors knowledge of what is transpiring so it will depend on how informed other survivors become. The lawyers involved are the key here as they seem to hold a lot of influence with their clients (Kosnoff and letter writing to the judge). My legal team has come out and publicly supported this outline of a settlement. I believe that the lawyers who are voicing public opposition are trying to get a little more. Maybe not more in the total figure but maybe in the no real questions payout. They might know that they have more false/unsubstantiated claims. Hypothetically if you have 20K claims and 75% are false/unsubstantiated claims and you can get another $500 on top the $3500 you would pick up another $3.75 million for your firm (at 50% contingency). If more money is distributed such you might find a couple of lawyers speaking positively.

Not sure what you are trying to say. Could you clarify please?

I am sure once the BSA documents (enrollment forms etc.) to the lawyers and claimants there will be many calls from lawyers to claimants to settle for the $3500. Lawyers will not want to spend time and resources for claims that they don't believe in. The lawyers will get their $1150 to 1750 for those claims and call it a day.

The short answer would be there really is no other viable option. The states with no SOL's will still have those in place even if this does not pass and the judge can still do a cram down plan if that happens. The Coalition who represents 60K claimants must know that at 30K of these will be affected yet they are endorsing the plan. Depending on which state you are talking about there will be a value attached to a viable claim.

They would also need the trustee to allow them to sue BSA/LC.

The promissory note I know about. $500M is more than BSA national is putting into the trust.

Forgive my ignorance but what loan are talking about?

The insurers claim minimal offer for survivors is upped from $1500 to $3500.

What I don't believe is that this is over. I do believe that there will be more SOL states. My optimism is for others I live in California and my abuse occurred in California. This is not over.

I don't want to be overly optimistic but it is never over until the fat lady sings and she hasn't started to warm up yet.

Personally I feel lousy about it. Hopefully there can be some kind of righting of this wrong even if it means I would get less.

I personally don't feel all is doom and gloom. I found it interesting that the TCC said that the BSA was not happy no ones happy. That is usually a good sign of compromise. Also BSA was on the clock.

I cannot answer that with any certainty. My lawyer definitely did and I would assume so based on that fact.