Chapter 11 announced

[Eagle1993]

8 minutes ago, ThenNow said:

Remember, 18 states have pending legislation for look-back "revival" windows.

I wonder if the tides turn on this as Boy Scout camps are sold and then clear cut.  Local news interviewing young scouts about their sold camp, followed by loggers clear cutting old growth pine forests make an emotional appeal and will be grabbed quickly by Republicans as an example of “cancel culture” stopping legislation.  I don’t know which way this goes... is the story Larry Nasser/organizational negligence or loss of current youth activities over generation old claims and tort big business.   It could go either way.  The question is if LCs from closed states are willing to take a bet. 

[5thGenTexan]

@ThenNow

Can you help those of us, like me, navigate what it means?  Like in Texas...  a person can now file up until they are 48 years old no matter when the abuse happened??

https://www.insurancejournal.com/news/national/2019/12/04/550210.htm

 

ETA:  Where do these types of cases in BSA fall in the Texas code?

https://statutes.capitol.texas.gov/Docs/CR/htm/CR.12.htm

Edited March 26, 2021 by 5thGenTexan

[Eagle1993]

1 hour ago, MattR said:

Consider that the bsa declared bankruptcy when the assumed number of cases was in the small number of thousands, when the expected payout was in the few hundreds of millions. Maybe they're not playing bluff. Maybe there is no grand plan because they're essentially broke and the $300M is not far off.

I think the $300M comes down to ... restricted vs non restricted assets and which councils are contributing. 

In terms of restricted vs non restricted ... I would think the mediator should be able to help.  Are the assets councils consider "restricted" truly restricted.  For example, Three Fires Council indicated ~$3M of restricted assets.  Does the TCC in their review agree and if not, that should go to mediation.  Now multiply by 200 - 300 councils.

The few councils I have heard from, are indicating they are providing nearly all of their "unrestricted assets".  So the other question I would have is ... which councils are not participating.  There could be a fair number that are not and if their assets are high, that could end up scuttling the settlement. 

I have no idea of $300M is far off anymore.  My initial hunch was it seemed very low ... but now that I see a great camp being sold just to meet the $300M commitment I begin to wonder.  I also know BSA has been selling camps for a decade plus and have seen major donors drop off.  Perhaps each council is in financial stress and all that is left is a bunch of camps, already mortgaged and or donor restricted that are left.

[yknot]

55 minutes ago, Eagle1993 said:

I wonder if the tides turn on this as Boy Scout camps are sold and then clear cut.  Local news interviewing young scouts about their sold camp, followed by loggers clear cutting old growth pine forests make an emotional appeal and will be grabbed quickly by Republicans as an example of “cancel culture” stopping legislation.  I don’t know which way this goes... is the story Larry Nasser/organizational negligence or loss of current youth activities over generation old claims and tort big business.   It could go either way.  The question is if LCs from closed states are willing to take a bet. 

I can see some public angst developing but I think it's more likely to come from the environmental sector because some of these camps are large, pristine tracts. 

[ThenNow]

3 hours ago, 5thGenTexan said:

Can you help those of us, like me, navigate what it means?  Like in Texas...  a person can now file up until they are 48 years old no matter when the abuse happened??

Yes, but that is a prospective (forward-looking) change. It doesn't allow someone previously barred from filing.  

[ThenNow]

3 hours ago, Eagle1993 said:

I think the $300M comes down to ... restricted vs non restricted assets and which councils are contributing. 

I see that some Councils, even in closed states, are stating a "moral obligation to contribute" as they see the number of claims filed against them. I don't know if this is rare or not. For gee whiz, I looked up the financial data on the TN Council after the transfer of properties and assets became an issue. It seems clear they transferred property and assets because they're loaded. They have 237 claims, per the TCC's data analysis. Moving assets seems a sure sign of concern over future liability and exposure. I wonder if they plan to contribute and how much.

[David CO]

27 minutes ago, ThenNow said:

I see that some Councils, even in closed states, are stating a "moral obligation to contribute" as they see the number of claims filed against them. 

Funny how they didn't see a "moral obligation" before now.

 

[ThenNow]

1 minute ago, David CO said:

Funny how they didn't see a "moral obligation" before now.

I don't know, but that may be one part public relations pressure, one part buying certainty and another part getting it over with. My Council is in a closed state with pending legislation. Watching to see what they do or not.

[RememberSchiff]

4 hours ago, David CO said:

Funny how they didn't see a "moral obligation" before now.

Unsettling phrases "all that was legally required", "moral obligation to contribute" ... just doesn't seem the phrases scouts or scouters would use when "helping other people..."

My $0.01

[awanatech]

1 hour ago, RememberSchiff said:

Unsettling phrases "all that was legally required", "moral obligation to contribute" ... just doesn't seem the phrases scouts or scouters would use when "helping other people..."

My $0.01

"Helping other people" is what the Scouts (youth) are expected to do. That same standard does not apply to Scouters, especially at the national level.

[RememberSchiff]

Scouters recite the same Scout Oath.

Edited March 27, 2021 by RememberSchiff

[The Latin Scot]

34 minutes ago, awanatech said:

"Helping other people" is what the Scouts (youth) are expected to do. That same standard does not apply to Scouters, especially at the national level.

I can only hope this remark is being made sarcastically or facetiously ... 🤨

[DavidLeeLambert]

USC ‘s $1.1-Billion Payout

https://www.latimes.com/california/story/2021-03-25/usc-payout-gynecologist-sex-abuse-claims-to-top-1-billion?utm_id=26092&sfmc_id=1183278

"MARCH 25, 2021 UPDATED 4:06 PM PT

USC has agreed to pay more than $1.1 billion to former patients of campus gynecologist George Tyndall, the largest sex abuse payout in higher education history.

The huge sum was revealed Thursday in Los Angeles Superior Court as lawyers for a final group of 710 women suing the university told a judge they had settled their claims for $852 million.

USC previously agreed to pay thousands of other alumnae and students $215 million in a 2018 federal class-action settlement. A group of about 50 other cases were settled for an amount that has not been made public."

(University of Southern California is a private, non-profit university. According to its 2020 financial statements, it had $1.8 billion cash on hand, $6.8 billion in investments and $4.5 billion in PPE, net of depreciation. It has 46,000 students, with average net tuition and fees of about $35 thousand per year. 

It looks like this final group of victims is getting $1.2 million each, but an earlier group got less than $100,000 each.) 

[RememberSchiff]

USC ‘s $1.1-Billion Payout

The settlement will be paid in two installments, in August 2021 and August 2022, the lawyers said.

The university plans to pay out the settlement "largely through a combination of litigation reserves, insurance proceeds, deferred capital spending, sale of non-essential assets, and careful management of non-essential expenses," USC President Carol L. Folt said in a letter to the school community.

"No philanthropic gifts, endowment funds, or tuition will be redirected from their intended purposes," she said.

https://abcnews.go.com/US/breaking-university-southern-californias-11-billion-sex-abuse/story?id=76713012

https://about.usc.edu/files/2020/07/USC-2019-Annual-ReportFINAL.pdf

 

[ThenNow]

5 hours ago, DavidLeeLambert said:

It looks like this final group of victims is getting $1.2 million each, but an earlier group got less than $100,000 each.) 

This is a group of 700 victims. The last 11 years of BSA claims yields roughly the same number. These cases are crimes and horrific. Unquestionably. The nature of the acts are much different than a vast number in this case, however. Just pointing out facts.

Now, some complete speculation. Many who attend USC are people of power, resources and influence. I’m betting there are lots of high-leverage players in this case for and among the claimants. I’m sure we BSA survivors have our share, but I venture we are more so, “not many wise according to the world, not many mighty, not many noble...”