Chapter 11 announced - Part 14 - Plan Effective

[MYCVAStory]

8 hours ago, mrjohns2 said:

This is such a poor and untrue choice of words. They should never use this. The better phrase would be something about an organized distribution of funds so that all get something. Not anywhere near fully paid, nor is the debt incurred ever gone. Yeah, they should stop saying that. 

Agreed.  The reality is right now anyone covering this, and the BSA as well, have only the BSA's "expert" Dr. Bates and his report to point to.  The reality will only be known when checks start hitting mailboxes.  Even then, that will only be part of the story.  There are still non-settling insurers and the LDS to factor in.  So, that 100% comment we see will be replaced by reality.  And if the Bates prediction isn't correct?  Well, I'm looking forward to his explaining that because there will be eyes on this for a very long time and I suspect the story of this bankruptcy and its effect on Survivors is a long way from being over or filmmakers/documentarians/journalists losing interest.

[MattR]

Wow, I sure am glad this forum exists. I've been busy and hadn't been paying attention to this thread but certainly would have thought that "out of bankruptcy" would have been posted elsewhere in all the email from the BSA that comes my way. That said, if the subject line of the email sounds like pablum then I'll likely trash it.

I wish the best for the survivors. I wish the best for the volunteers. I think it will be hard for both.

Here's to perseverance.

 

[Cburkhardt]

Early on, the bankruptcy discussions on these posts had a broader perspective including the impacts on both the BSA as an institution and claimants individually.  There was a natural narrowing of the discussion and claimants led the way as the bankruptcy proceedings focused on the complex technical treatment of the claims and establishment of the trust. 

Now we are beginning to deal with the how the bankruptcy is significantly impacting the future for various BSA entities and it going-forward members.  This discussion will ultimately include things like mergers, local council bankruptcies and significant local and national changes (many positive) in the program and its management as a direct or indirect result of the bankruptcy.  Perhaps the moderators should consider opening a new thread and specifically focus it on the trust implementation and claimant-related issues so claimant-related parties can discuss the details of trust implementation without mixing-in BSA structural issues.  The rest of us can then open individual threads on BSA structural issues with a bankruptcy connection as they arise. 

[Eagle1970]

Mods, I wonder if this forum should be spun off into survivor issues vs. BSA ongoing operations discussion.

Anyway, I see in my USPS Informed Delivery that I have a letter coming from Omni today.  Has anyone received it?

[ScouterDavid]

2 hours ago, Eagle1970 said:

Mods, I wonder if this forum should be spun off into survivor issues vs. BSA ongoing operations discussion.

Anyway, I see in my USPS Informed Delivery that I have a letter coming from Omni today.  Has anyone received it?

I got mine last Saturday. Basically says "BSA's plan is effective".

[Eagle1993]

BSA letter to survivors.

BSA-Open-Letter_042023.pdf

[clbkbx]

1 hour ago, Eagle1993 said:

letter to survivors

I know there’s no good way to do this when it’s the finest letter you can buy from a PR firm… but it’s pointedly not just to survivors.  

[vol_scouter]

8 minutes ago, clbkbx said:

I know there’s no good way to do this when it’s the finest letter you can buy from a PR firm… but it’s pointedly not just to survivors.  

Your observation is likely to be correct.  That said, no matter what group of people the received the letter, it would become known to the public.  As a long time volunteer, it does represent many of my personal feelings.  I am volunteering to work in youth protection beginning this spring in my council to do our best to prevent any other children from being abused.  I feel personal remorse for what has happened in the past and wish the best for all survivors.  Over the years, I have seen the power that Scouting has to help young people to become happy, successful people.  We must continue Scouting but learn from past mistakes.  As long as I am able and wanted, I will continue to volunteer to protect and help young people to become those happy and successful people.

Additionally, I will continue to monitor the forums to help as I am able to protect those who were harmed in the past and to learn how to best protect our youth.

[clbkbx]

If anyone is considering the Independent Review option and is happy with their counsel, would you  drop a recommendation to me by message? Thank you.

[Eagle1970]

Missouri House has perfected a bill (HB367) to increase SoL to 20 years from age 21 or when injury was discovered.  Unfortunately, they stripped out the window, which was the purpose in bringing the bill.  But it is still more than doubling of the reporting period for action.  The Insurance lobby and Chamber of Commerce were the primary voices against the bill, so they chopped out the meat and moved it forward without the window.  Scout survivors and long-time survivors of a summer-camp were heavily behind passage.  Their entire message was about the need for the window so both groups of survivors could seek justice.  I'm sure they are devastated.  But it is Missouri.

My question for the group regards the "Proposed SoL Scaling Factors".  So, are they set in stone with the Trust having moved forward?  Missouri is listed as 10-25% in that chart.  But when I compare what is likely to be the new SoL, it would become longer than some states that have a 50% factor.  What other factors are involved with those rather arbitrary percentages?

I represent myself, and can't seem to find a resource to clarify this.  My case is documented.  But the SoL factor, if it stands, will minimize any recovery.  If I were in an open state, I would surely be represented and likely take the IRO.  But, at this point, all I can do is whatever I can to address the SoL.  There have been cases that tolled the old (7 year) SoL and with one that is so much longer, it would seem that would be an easier road for a plaintiff than in the past.  So it surprises me that the state is 10-25%.  I'm sure I am missing something.  Anyone?

 

[MYCVAStory]

On 5/7/2023 at 1:47 PM, Eagle1970 said:

My question for the group regards the "Proposed SoL Scaling Factors".  So, are they set in stone with the Trust having moved forward?  Missouri is listed as 10-25% in that chart.  But when I compare what is likely to be the new SoL, it would become longer than some states that have a 50% factor.  What other factors are involved with those rather arbitrary percentages?

To the best of my knowledge the scaling factors will be modified to the "current" State of the SOL landscape.  That's also why there's a 12-month holding period for Survivors who anticipate changes for their State.  Just my guess.  But, a couple other points:

1.  The Trust has a LOT of explaining to do regarding processes.  The Judge has said she's going to answer questions.   We'll see if she knows what that means. A claims processing company will be retained.  It will get a lot of questions.  For now we all have questions and the questionnaire is in development.  THEN, there will be six months to get that in.  So, there's a LOT of time for a LOT of issues to come up and hopefully be addressed.  As well, there are 4,000 pro se claimants and the Trustee knows it so there will need to be assistance for unrepresented Survivors and those who aren't happy with their attorney communication.

2.  And, a "Don't shoot the messenger" message.  Remember that the Third Circuit still has this to be considered under appeal.  All it did was refuse to continue the stay.  That allowed the Trust to move forward since the plan allowed it after District Court affirmation.  So, while the Trust is motivated to get things going ASAP since the Circuit will look at how much progress has been made and will consider that before overturning anything, that may take a year considering the Circuit's pace.  Non-settling insurers are happy to wait.  THEN, if they don't prevail they submit a writ to the Supreme Court to have it consider their position.  Getting that accepted is anyone's guess and then the time to any hearing is also an unknown.  What all of that means is that Survivors will get an award "letter" but any award "payments" are more than likely a multi-payment proposition that will take more than a year and the percentage of the award value is still a big unknown.

Sorry, I know this didn't answer your question directly.  It's just meant as some encouragement that a LOT of questions are to come AND there is a lot of time for this to still play out.  What did I hear, 10,000 claimants over 70?  I just want to be alive when this is done playing out.  The fact that many Survivors haven't made it, and still more won't, is tragic and I hope some day that story becomes part of the narrative that changes how the bankruptcy laws are being used to address what happened to us.

 

 

[Eagle1970]

4 minutes ago, MYCVAStory said:

To the best of my knowledge the scaling factors will be modified to the "current" State of the SOL landscape.  That's also why there's a 12-month holding period for Survivors who anticipate changes for their State.  Just my guess.  But, a couple other points:

1.  The Trust has a LOT of explaining to do regarding processes.  The Judge has said she's going to answer questions.   We'll see if she knows what that means. A claims processing company will be retained.  It will get a lot of questions.  For now we all have questions and the questionnaire is in development.  THEN, there will be six months to get that in.  So, there's a LOT of time for a LOT of issues to come up and hopefully be addressed.  As well, there are 4,000 pro se claimants and the Trustee knows it so there will need to be assistance for unrepresented Survivors and those who aren't happy with their attorney communication.

2.  And, a "Don't shoot the messenger" message.  Remember that the Third Circuit still has this to be considered under appeal.  All it did was refuse to continue the stay.  That allowed the Trust to move forward since the plan allowed it after District Court affirmation.  So, while the Trust is motivated to get things going ASAP since the Circuit will look at how much progress has been made and will consider that before overturning anything, that may take a year considering the Circuit's pace.  Non-settling insurers are happy to wait.  THEN, if they don't prevail they submit a writ to the Supreme Court to have it consider their position.  Getting that accepted is anyone's guess and then the time to any hearing is also an unknown.  What all of that means is that Survivors will get an award "letter" but any award "payments" are more than likely a multi-payment proposition that will take more than a year and the percentage of the award value is still a big unknown.

Sorry, I know this didn't answer your question directly.  It's just meant as some encouragement that a LOT of questions are to come AND there is a lot of time for this to still play out.  What did I hear, 10,000 claimants over 70?  I just want to be alive when this is done playing out.  The fact that many Survivors haven't made it, and still more won't, is tragic and I hope some day that story becomes part of the narrative that changes how the bankruptcy laws are being used to address what happened to us.

 

 

Very detailed and helpful.  Thank you. 

I was able to resource into the pending bill detail to find out that a lookback window in Missouri is in conflict with a line in the state constitution, which is why it was stripped out of the bill.  However, they are working on some sort of a workaround, though I have no idea what that might be.  Either way, there is movement in my state to get some help for survivors.  It's not just a BSA thing in MO.  There is a Nationally chartered camp here with a lengthy history of CSA and a bunch of older survivors who would like their day in court.  The bill has bipartisan support, so fingers crossed.

You and I both on the hope of being alive when this is done playing out.

[BadChannel70]

Settlement Trust web site has been updated and revamped: Home (scoutingsettlementtrust.com) Check back regularly for updates.

[Eagle1993]

I believe the final financial statement has been uploaded (see attached).a467cb7b-d708-4574-bf09-af88162f82eb_11230.pdf

A lot of activity on this one as it closes out BSA's immediate cash outlays to the trust.  Note councils have ongoing payments and I believe BSA may have some as well.

BSA leaves bankruptcy with $25.5M unrestricted cash. 

Edited May 23, 2023 by Eagle1993
Typo

[mrjohns2]

1 hour ago, Eagle1993 said:

BSA leaves bankruptcy with $25.5M unrestricted cash. 

@Eagle1993 Thanks for your reporting through this whole process. Based on one of your bar graphs, it looks like they started at ~$230M? With $25M left, I wonder what their payroll and power bills are. That isn’t a ton of buffer to even cover normal inflows and outflows. It really seems, like maybe you and others had said, they didn’t have many months left.