Chapter 11 announced - Part 14 - Plan Effective

[Eagle1970]

My claim was reduced by 90%, so I'm not getting much anyway.  But all this talk about claims being paid at 100% look like intentionally false statements.  50% funding would have been bad, but at least something.  But this may end up at 15%.  How could they possibly get it so wrong?

[Tron]

On 2/6/2025 at 9:34 PM, Eagle1970 said:

My claim was reduced by 90%, so I'm not getting much anyway.  But all this talk about claims being paid at 100% look like intentionally false statements.  50% funding would have been bad, but at least something.  But this may end up at 15%.  How could they possibly get it so wrong?

Did the lawyers get it wrong or were they being disingenuous?

[skeptic]

5 hours ago, Tron said:

Did the lawyers get it wrong or were they being disingenuous?

Key word:  Lawyers.  Enough said.

 

[Muttsy]

Tim Kosnoff is an attorney and he called it a b.s. settlement (he actually called it “sellout” not a settlement. Fools believed the unbelievable. A “substantial” majority of survivors voted to approve it. 
 

If you voted for it, look in the mirror for who to blame. Of course, those lawyers were lying. But it was all there in black and white. What a fool believes—he sees. 

[johnsch322]

49 minutes ago, Muttsy said:

Tim Kosnoff is an attorney and he called it a b.s. settlement (he actually called it “sellout” not a settlement. Fools believed the unbelievable. A “substantial” majority of survivors voted to approve it. 
 

If you voted for it, look in the mirror for who to blame. Of course, those lawyers were lying. But it was all there in black and white. What a fool believes—he sees. 

I for one voted no both times. 

[Eagle1970]

I also voted no.  As soon as I learned that my claim would be mostly wiped out by the Matrix SoL, there was no point in supporting it.  Then, to make matters worse, although I submitted a lot of case law the administrator reduced the claim as much as possible.  The matrix had made the state where my abuse occurred a 10-25% factor.  You guessed it...she used the 10 and wouldn't begin to adjust it in "reconsideration".  The whole thing is a sham.

[Muttsy]

Everybody should be rooting for the 3rd Circuit to reject the BSA’s equitable mootness argument. With that done, the plan is effectively finished because of Sackler ruling rejecting non-consensual third party releases. Century Chubb and the other settling insurers will pull their contributions to the ST which will be kaput. So then…it will get interesting. Kosnoff has been floating some possibilities all of which are much better than this POS the TCC and the all corrupt law firms foisted on the survivors. 

[Eagle1970]

I had read that if the Third Circuit tosses the Trust, most of us get nothing.  I can't find any detail online regarding Kosnoff's plan if it is rejected.  Can you elaborate?