Chapter 11 Announced - Part 4 Revised Plan

[MYCVAStory]

1 hour ago, johnsch322 said:

I feel like I am watching a 3 ring circus as all of this unfolds.  

That's a really good analogy.  The hardest thing to do is be patient as this unfolds, and remain confident that the interests of victims are being fought for as best as possible.  Victims are a strong and that strength has never been needed more than now.  Another day...week..month...stay strong.

[ThenNow]

3 hours ago, MYCVAStory said:

4 hours ago, johnsch322 said:

I feel like I am watching a 3 ring circus as all of this unfolds.  

That's a really good analogy.  

By my count, we have to add 6 or so rings to the classic Barnum & Bailey standard. 

[Life]

I remember going to the circus when I was a kid and remember it being a lot more fun. Same treatment of the animals though. 
 

ive been following this forum for awhile now and just now decided to chime in. Seems like a calm before the storm so I wanted to pipe up. 
 

ive been involved in this since before the bankruptcy. My state, I don’t own it, opened its window in 2020 and my lawyer team filed on my behalf on the 2nd of Jan. They warned it could turn to BR. They even asked if I still wanted to go through with it after that fact. Now I understand why it was questionable. But here I am. 
 

I am much impressed by everything you all have contributed. The responses have been courteous and well informed. 
 

it pains me that I follow this( daily when I’m obsessed with it) I made it to life scout. My brother got eagle and I got… well, that’s why I’m here. 
 

Comedy has been my saving grace, once I pulled out of the self destructive path I had found as a solution. When all this is over I’m going to have a lot of new material. 😉 

I use to feel alone in this, now I feel I have 84000 compadres, some false friends I wonder. We could fill the Glenn Hellen amphitheater, but some would be left out side the arena. Which I’m sure may be the case. 
 

thank you gentlemen. 

[prof]

@Life Welcome to the campfire.

[ThenNow]

2 hours ago, Life said:

ive been following this forum for awhile now and just now decided to chime in. Seems like a calm before the storm so I wanted to pipe up. 

Welcome. I am truly sorry for what you endured, now this painful saga. As you accurately said, at least now we are not completely alone, bumping around in the dark of our hyper-focused minds and muddling through. Come what may as the circus continues, we finally have a cohort, though we remain anonymous. It is better than we had and there is comfort in it, I believe. 

[johnsch322]

3 hours ago, Life said:

ive been following this forum for awhile now and just now decided to chime in.

Welcome to the club @life. Please don't feel like you need to wait for another calm before you chime in.  I believe next week from the filings I read yesterday there will be another storm brewing this coming week.  When the storms from the bankruptcy and the storms in my head are raging is when I feel the most need  to reach out here.  I have not written much this past couple of weeks but I guess it is because my Prozac seems to be doing its job.  @ThenNowsays it well

 

23 minutes ago, ThenNow said:

Come what may as the circus continues, we finally have a cohort, though we remain anonymous. It is better than we had and there is comfort in it, I believe. 

 

[ALongWalk]

@life welcome to the forum. I hope this is a place where you can find community, information, happiness, and solace. 

[Life]

1 hour ago, johnsch322 said:

Welcome to the club @life. Please don't feel like you need to wait for another calm before you chime in.  I believe next week from the filings I read yesterday there will be another storm brewing this coming week.  When the storms from the bankruptcy and the storms in my head are raging is when I feel the most need  to reach out here.  I have not written much this past couple of weeks but I guess it is because my Prozac seems to be doing its job.  @ThenNowsays it well

 

 

Thank you. Thanks to you all I’ve been able to see what’s really going on beyond what the media likes to spin. 
 

ll bet you two 20mg Prozac pill that we may need more Prozac before this is done. 
 

im in this with you all also! 

32 minutes ago, ALongWalk said:

@life welcome to the forum. I hope this is a place where you can find community, information, happiness, and solace. 

Thank you. I have so far! 

[Life]

2 hours ago, ThenNow said:

Welcome. I am truly sorry for what you endured, now this painful saga. As you accurately said, at least now we are not completely alone, bumping around in the dark of our hyper-focused minds and muddling through. Come what may as the circus continues, we finally have a cohort, though we remain anonymous. It is better than we had and there is comfort in it, I believe. 

Thank you, and I empathize as well. 
 

well stated on the hyper focused mind. The muddling. Grateful for the welcome. 

[MattR]

Welcome to the forum, @Life. It's really hard for me to believe you're the first person to grab the user name "Life". Don't get me wrong, I was a life scout when I left scouts.

17 hours ago, Life said:

Comedy has been my saving grace, once I pulled out of the self destructive path I had found as a solution. When all this is over I’m going to have a lot of new material. 😉

Humor is a good way to deal with pain. Best of luck.

17 hours ago, Life said:

I use to feel alone in this, now I feel I have 84000 compadres,

I'm hoping this forum helps some of those victims. So thank you for being brave and speaking up.

 

 

[ThenNow]

3 hours ago, MattR said:

I'm hoping this forum helps some of those victims.

I want to compliment the Scouters who’ve been on this thread since I removed my invisibility cloak and have slogged through some challenging conversations. Some bailed out due to frustration and/or anger. We’ve come a long way. Allowing “us” to be heard and substantively contribute means a lot. As you know, no one else in the organization is really hearing us, much less engaging in dialogue from a motive of human understanding alone. They may be listening strategically, but that means little (to me). 

[Life]

6 hours ago, MattR said:

Welcome to the forum, @Life. It's really hard for me to believe you're the first person to grab the user name "Life". Don't get me wrong, I was a life scout when I left scouts.

Humor is a good way to deal with pain. Best of luck.

I'm hoping this forum helps some of those victims. So thank you for being brave and speaking up.

 

 

I wanted Lif01-32almostaneagle21 but that was taken. Thank you for the welcome!

[Life]

2 hours ago, ThenNow said:

I want to compliment the Scouters who’ve been on this thread since I removed my invisibility cloak and have slogged through some challenging conversations. Some bailed out due to frustration and/or anger. We’ve come a long way. Allowing “us” to be heard and substantively contribute means a lot. As you know, no one else in the organization is really hearing us, much less engaging in dialogue from a motive of human understanding alone. They may be listening strategically, but that means little (to me). 

Part of wanting to chime in is for this very reason. This whole thing doesn't even feel remotely like looking out for us. It would be childish to believe that it could have been for that. Things would move quicker if they were. Humble opinion.  I do appreciate what I heard at the last town hall. The measures that will go in effect to minimize future abuse. I also believe that by us all standing up and making some noise will perhaps help to minimize future abuse. In short we can help look out for those that the BSA has failed to do in the past. 

[DavidLeeLambert]

So Thursday July 22nd was the deadline to object to the Restructuring Support Agreement as such (rather than to the Plan and Disclosure more generally). Several parties did so, including the estate of a deceased Non-Abuse Litigation claimant [D.I.5711], the Catholic and Methodist Ad-Hoc Committees jointly [D.I.5676], the LDS Church [D.I.5674] joined by the Episcopal Church [D.I.5677], and about 250 abuse claimants represented by about a half-dozen firms [D.I.5682,  plus a few joinders].

However, the biggest objections are from Century. Redacted versions appeared on the docket on Friday.

CENTURY’S OBJECTIONS TO THE DEBTORS’ MOTION FOR ENTRY OF AN ORDER, PURSUANT TO SECTIONS 363(b) AND 105(a) OF THE BANKRUPTCY CODE, (I) AUTHORIZING THE DEBTORS TO ENTER INTO AND PERFORM UNDER THE RESTRUCTURING SUPPORT AGREEMENT AND (II) GRANTING RELATED RELIEF [D.I.5723, https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/9ce30206-3b08-48c0-9909-76c18b9134b2_5723.pdf ]

CENTURY’S OBJECTION TO THE PAYMENT OF THE COALITION’S LAWYERS IN ACCORDANCE WITH THE DEBTORS’ MOTION FOR ENTRY OF AN ORDER, PURSUANT TO SECTIONS 363(b) AND 105(a) OF THE BANKRUPTCY CODE, (I) AUTHORIZING THE DEBTORS TO ENTER INTO AND PERFORM UNDER THE RESTRUCTURING SUPPORT AGREEMENT, AND (II) GRANTING RELATED RELIEF [D.I.5724, https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/ae84e517-2cbe-44a1-8924-934c843388c5_5724.pdf ]

The first motion points out several problems with the RSA and/or the process that produced it, such as:

• "The RSA Fails to Obtain the Core Relief Expected in a Restructuring Support Agreement: Support for a Plan": Not one actual claimant has signed the RSA.
• "The RSA Requires the Debtors to Pursue a Plan that is Likely Not
  Confirmable Because it is Affirmatively “Insurance Prejudicial” Rather
  Than Insurance Neutral"
• The RSA "cedes complete control of the case" to the Abuse Claimant Representatives. "Given these facts, granting the Motion would only serve to further distance the Debtors from their other constituencies—to the detriment of all parties."

The second motion specifically attacks the $10.5 million one-time payment and ongoing $950,000 fee to Brown Rudnick.

• The payments are subject to the "Substantial Contribution" standard. But ... "A self-serving declaration cannot satisfy the burden to prove a substantial contribution to the estate."
• The Coalition can't meet that standard in any case, because of its nature. (Quoting Kosnoff's email about "we control 80% of the case", etc., again.)
• "Mere Participation in Settlement Does Not Constitute[] a Substantial Contribution."
• "Any Services that the Coalition Claim to Render that Are not Intended to Advance their Own Interests are Duplicative of the TCC.
• And the RSA also poses an "irreconcilable conflict" for State Court council

 

[CynicalScouter]

Been at summer camp with my troop last week. Now, back to this.

If I had to guess, I'd say that the RSA plan is done for. Every major group INCLUDING and perhaps most critically the US Trustee has come out against it.

1) We are starting to seem numerous attorneys for abuse victims filing objections to the BSA/TCC/FCR plan/RSA document. These are ENTIRELY redacted or almost so to protect the names of the victims. For example, the first two pages of this document are entirely blacked out.

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/c2b60c10-6ffe-419b-86fa-90917ff67bb1_5725.pdf

From what I can read/gather in-between the redactions, victims lawyers are echoing the insurance companies: there is no way all 82,500 claimants should get a vote until it is determined if all 82,500 have valid claims.

2) The insurance companies have also come out in force, objecting to the RSA, demanding BSA produce documents and other materials, etc.

They argue the RSA fails for a host of reasons https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/9ce30206-3b08-48c0-9909-76c18b9134b2_5723.pdf

• The benefits it confers on the Debtors are illusory.
• The RSA itself is illegal.
• The Amended Plan is unconfirmable.
• The RSA negotiation process was flawed.
• The Debtors have tied their hands.

3) Interestingly, we are also seeing attorneys in NON-abuse cases stepping up. For example, In Re EJK. In short, a scout (known only as EJK) was killed in 2018 while at a summer camp owned by the Greater Atlanta Council. The EJK's parents sued BSA and the Greater Atlanta Council and won in state court not only on the merits BUT they were able to get sanctions after they proved BSA and the Council was withholding evidence/information.

However, under the BSA/TCC/FCR plan there is no clear way to determine if they will get compensation at all either from BSA, Greater Atlanta Council, or the insurance companies.

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/a71a4006-8f19-4534-bf84-a7c42819b615_5711.pdf

This gets at a larger question: other victims of BSA and councils that are of a non-sexual nature (such as the death of scouts due to BSA or Council negligence) are going to be pushed to the back or potentially completely out of the picture.

4) The TCC has filed its draft "plain English" summary for Abuse Victims. I'm going to discuss this in detail another post. https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/5db3d4a6-7a56-4bca-9f64-75825121a3e4_5706.pdf

5) The Catholic dioceses are starting to come in and are absolutely livid about the BSA throw-the-COs-under-the-bus plan.

6) The Episcopal Churches are also showing up and joining in the various CO objections.

7) The US Trustee has come out against the RSA. I'll review that in a separate post. https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/8eb26aec-4928-412c-836f-57ec9157c343_5685.pdf