clbkbx Posted March 31, 2023 Share Posted March 31, 2023 9 hours ago, MYCVAStory said: does NOT take into account any scaling factors that would increase or decrease awards and assumes that all claims can be funded at 100%. It's merely a simplified way to look at the matrix and apply it to open and closed States. Agreed this is not a helpful website but I’ll beat a dead horse: not even their own informational website assumes it’s currently fully funded. Link to comment Share on other sites More sharing options...
PaleRider Posted March 31, 2023 Share Posted March 31, 2023 That information was changed before we voted for plan the first time. Link to comment Share on other sites More sharing options...
Eagle1970 Posted April 4, 2023 Share Posted April 4, 2023 (edited) I'm following efforts in Missouri and Ohio for windows and other SoL reform. One article refers to states having 1 year from the final approval of the Plan (assuming after all appeals are exhausted) and then they will receive a change in factor for SoL. Can anyone point to this in the Plan? Edited April 4, 2023 by Eagle1970 Link to comment Share on other sites More sharing options...
MYCVAStory Posted April 4, 2023 Share Posted April 4, 2023 45 minutes ago, Eagle1970 said: I'm following efforts in Missouri and Ohio for windows and other SoL reform. One article refers to states having 1 year from the final approval of the Plan (assuming after all appeals are exhausted) and then they will receive a change in factor for SoL. Can anyone point to this in the Plan? Page 166: H. Claim Determination Deferral. For a period of up to twelve (12) months from the Effective Date, and by an election exercised at the time of the Trust Claim Submission, Direct Abuse Claimants whose Direct Abuse Claims may be substantially reduced by the Scaling Factor described below in Article VIII.E.(iii) (statute of limitations defense) may elect to defer the determination of their Proposed Allowed Claim Amounts to see if statute of limitations revival legislation occurs, provided, however, that this claim determination deferral window shall close for all Direct Abuse Claims twelve (12) months from the Effective Date at which time such Submitted Abuse Claims shall be determined based on then applicable Scaling Factors. 1 Link to comment Share on other sites More sharing options...
Eagle1970 Posted April 4, 2023 Share Posted April 4, 2023 12 hours ago, MYCVAStory said: For a period of up to twelve (12) months from the Effective Date, and by an election exercised at the time of the Trust Claim Submission, Thank you. What is meant by the "Effective Date"? Is it following appeals? And what is meant by "an election exercised at the time of the Trust Claim Submission"? Some in Ohio believe that the effective date was last year (September?) when the plan was approved. Others believe it is when all appeals are exhausted. Link to comment Share on other sites More sharing options...
MYCVAStory Posted April 4, 2023 Share Posted April 4, 2023 No, and this is supposed to be discussed at the Town Hall tonight. The Effective Date is when Judge Silverstein rules that everything is in place and the Trust may do its work completely. It's a "legal ruling." and what the objectors are trying to stop right now. BSA is trying to get the Effective Date work done by 4/12 according to one attorney's email. Fun fact....if a Trust goes effective and THEN a higher court rules that some portion of bankruptcy law should be interpreted a different way it does NOT impact the existing Trust. You can't "unscramble" the egg. So....everything right now is about getting an "Effective" order, or stopping it. 2 Link to comment Share on other sites More sharing options...
ScouterDavid Posted April 4, 2023 Share Posted April 4, 2023 I believe this was expected. Link to comment Share on other sites More sharing options...
Eagle1993 Posted April 6, 2023 Share Posted April 6, 2023 Just adding on to the above. Lujan, insurers & Dumas/Vaughn all filed for an emergency stay. Basically, if the stay is not issued by April 12, it looks like an automatic stay will expire. In any case, it seems like all parties are aligned that April 11th will be the last date to issue a stay, or the plan goes effective, and appeals could become an issue as they are equitably moot. 35a6786a-ce37-448e-aeb0-e5d7a2b29666_152.pdf (omniagentsolutions.com) Quote The Certain Insurers1 move this Court for a stay pending appeal and for a temporary stay while the Court considers this motion. Absent a stay, the automatic stay under Federal Rule of Bankruptcy Procedure 8025 will expire after April 11, 2023, at which point BSA may contend that further appeals by appellants are equitably moot, raising a substantial risk of irreparable harm. 931640e6-44d5-4b85-b697-11a865328923_154.pdf (omniagentsolutions.com) Quote The Dumas & Vaughn Claimants (“D & V Claimants”) move this Court for a stay pending appeal and for a temporary stay while the Court considers this motion. Absent a stay, the automatic stay under FRBP Rule 8025 will expire after April 11, 2023. Without extending the stay, BSA may argue that further appeals by appellants are equitably moot, which would greatly increase the risk of irreparable harm to D & V Claimants. Link to comment Share on other sites More sharing options...
Eagle1993 Posted April 6, 2023 Share Posted April 6, 2023 BSA is back to $81M of net unrestricted liquidity, or $37M less than end of February 2022. While I think they would be in serious trouble if the bankruptcy went completely off the rails, they should be fine waiting out any appeals process (even it if takes a considerable amount of time). Link to comment Share on other sites More sharing options...
MYCVAStory Posted April 6, 2023 Share Posted April 6, 2023 27 minutes ago, Eagle1993 said: Just adding on to the above. Lujan, insurers & Dumas/Vaughn all filed for an emergency stay. Basically, if the stay is not issued by April 12, it looks like an automatic stay will expire. In any case, it seems like all parties are aligned that April 11th will be the last date to issue a stay, or the plan goes effective, and appeals could become an issue as they are equitably moot. During the Town Hall last night the Coalition's attorney David Molton all but said that the District Court would NOT issue the stay. This prediction came about because the District requested supporter briefs very quickly, and objector replies the next day. In other words, the District just ruled and there were few cracks in the plan to expand an objection so why belabor the issue. "Get me your paperwork and I'll keep the "Denied" stamp inked up." This will then continue the rush to get enough into place so the Trust can go effective. Lots and lots of discussion of the steps/stages of all of this during the town hall. Link: 2 Link to comment Share on other sites More sharing options...
Eagle1993 Posted April 6, 2023 Share Posted April 6, 2023 The video was helpful, thanks! One interesting point ... as of April 12 (if there are no delays) ... the plan goes effective. That means we will start seeing assets transfer from the BSA to the trust. Artwork, mineral rights, cash payments, council properties, etc. Council Contribution hitting April 12: $300M in cash $200M in Property $125M Note The $200M of property must be put up for sale within 30 days of the effective date. Does anyone know where to find the final property list? I'm sure some have already been listed, but we may be in for a jolt by mid May. Link to comment Share on other sites More sharing options...
Eagle1993 Posted April 6, 2023 Share Posted April 6, 2023 (edited) 1 hour ago, Eagle1993 said: The video was helpful, thanks! One interesting point ... as of April 12 (if there are no delays) ... the plan goes effective. That means we will start seeing assets transfer from the BSA to the trust. Artwork, mineral rights, cash payments, council properties, etc. Council Contribution hitting April 12: $300M in cash $200M in Property $125M Note The $200M of property must be put up for sale within 30 days of the effective date. Does anyone know where to find the final property list? I'm sure some have already been listed, but we may be in for a jolt by mid May. Found it here da60d7ce-df85-45e9-9737-4dd1a5d50014_6445.pdf (omniagentsolutions.com) Exhibit C Councils that will likely be or have already sold properties to cover the $200M cost: Property Value to be sold (already or will be listed 30 days after effective date, which could be April 12). Again, this was proposed late 2021 so the list could have changes. All in all, councils must give $500M in cash & property. The cash comes the effective date (per plan) and property must be listed by 30 days post plan. One final note ... my council wasn't listed as a property seller, but sold their primary camp. So ... this list may not tell the whole story. Rounded #s below: Greater Alabama - $1.5M Tukabatchee Area - $0.4M Black Warrior - $80K Grand Canyon - $4.6M Catalina - $30K Sequoia - $71K Southern Sierra - $26K Long Beach Area - $2.2M Greater Los Angeles Area - $2.7M Orange County - $13M San Diego Imperial - $2.7M Western Los Angeles County $0.3M Los Padres - $1.2M Silicon Valley Monterey Bay - $2.4M Greater Yosemite - $2.2M Denver Area - $6.0M Old North State - $4.4M Connecticut Yankee - $1.5M National Capital Area - $3.2M Gulf Stream - $1.2M Greater Tampa Bay Area - $5.0M Northwest Georgia - $0.2M Northeast Georgia - $0.2M Abraham Lincoln - $0.4M Buffalo Trace - $72K LaSalle - $0.7M Quivira - $1.0M Istrouma Area - $0.7M Southeast Louisiana - $1.3M Katahdin Area - $0.3M Spirit of Adventure - $1.5M Nothern Star - $0.7M Gamehaven - $0.3M Andrew Jackson - $0.6M Ozark Trails - $0.9M Heart of America - $3.0M Pony Express - $0.4M Las Vegas Area - $0.1M Daniel Webster - $1.9M Monmouth - $1.2M Patriots Path - $1.9M Twin Rivers - $0.5M Longhouse - $0.8M Five Rivers - $0.8M Iroquois Trail - $0.2M Greater Niagara Frontier - $1.5M Allegheny Highlands - $0.6M Leatherstocking - $3.4M Conquistador - $2K Central North Carolina - $0.4M Occoneechee - $0.9M Cape Fear - $0.9M East Carolina - $0.9M Buckeye - $0.7M Tecumseh - $0.2M Simon Kenton - $0.2M Miami Valley - $1.3M Indian Nations - $0.7M Crater Lake - $0.3M Moraine Trails - $1.0M Westmoreland-Fayette - $0.3M Cradle of Liberty - $6.4M Coastal Carolina - $75K Blue Ridge - $1.1M Pee Dee Area - $0.6M Cherokee Area - $1.2M Great Smoky Mountain - $105K West Tennessee Area - $141K Buffalo Trail - $1.1M Alamo Area - $1.8M Crossroads of the West - $1.3M Green Mountain - $0.2M Tidewater - $51K Heart of Virginia - $0.6M Blue Mountain - $0.6M Mount Baker - $2.2M Grand Columbia $135K Mountaineer Area - $!11K Ohio River Valley - $60K Samoset $31K Great Rivers - $0.4M Blackhawk Area - $1.5M Garden State - $1.8M Rainbow - $0.2M Michigan Crossroads $2.2M Edited April 6, 2023 by Eagle1993 minor update Link to comment Share on other sites More sharing options...
skeptic Posted April 7, 2023 Share Posted April 7, 2023 My councill is not on this list. What does that possibly indicate? Are these ones that sold property, or just what they are being asked for? I do not know for sure, but we had a settlement from a wildfire loss during this period, so that may be related? Link to comment Share on other sites More sharing options...
Eagle1993 Posted April 7, 2023 Share Posted April 7, 2023 Just now, skeptic said: My councill is not on this list. What does that possibly indicate? Are these ones that sold property, or just what they are being asked for? I do not know for sure, but we had a settlement from a wildfire loss during this period, so that may be related? This list of councils are those selling $200M of property to cover some of the fees. More councils are paying cash. The linked file has all council contributions. Link to comment Share on other sites More sharing options...
Eagle94-A1 Posted April 7, 2023 Share Posted April 7, 2023 Stupid question: what happens to the excess money from sales? I know my council made 10x the appraised value of one camp they sold, and made at least 4x what their contribution from property sales was supposed to be. Here is the funny thing. The unit volunteers were told none of the money from the camps' sales was going to the lawsuit. A former exec board member, when I told him what the unit serving were told stated "That is not what they told us (exec board)." (sarcasm on) I love my council (sarcasm off) Link to comment Share on other sites More sharing options...
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