clbkbx Posted June 20 Share Posted June 20 Per the latest Trust update: A little over 82,000 proofs of claim were initially submitted. Currently, approximately 7,300 chose the expedited distribution and 317 chose the independent review option. These options are now closed. For the matrix, approximately 56,000 claims were received before the deadline. There may be some late claims allowed but probably won't move these numbers too much. So in the neighborhood of 65,000 claims total. Link to comment Share on other sites More sharing options...
mrjohns2 Posted June 20 Share Posted June 20 Does this mean higher payouts? Or that the payouts planned will be fully funded? Link to comment Share on other sites More sharing options...
clbkbx Posted June 20 Share Posted June 20 23 minutes ago, mrjohns2 said: Does this mean higher payouts? Or that the payouts planned will be fully funded? Yes there will be higher payouts but I don't think anyone believes it's fully funded. Link to comment Share on other sites More sharing options...
fred8033 Posted June 20 Share Posted June 20 2 hours ago, clbkbx said: Per the latest Trust update: A little over 82,000 proofs of claim were initially submitted. Currently, approximately 7,300 chose the expedited distribution and 317 chose the independent review option. These options are now closed. For the matrix, approximately 56,000 claims were received before the deadline. There may be some late claims allowed but probably won't move these numbers too much. So in the neighborhood of 65,000 claims total. It will be interesting to watch the numbers diminish. 31% of the claims went away without significant scrutiny. Link to comment Share on other sites More sharing options...
clbkbx Posted June 20 Share Posted June 20 2 minutes ago, fred8033 said: It will be interesting to watch the numbers diminish. Sadly some of this is because of an older population and it has taken four plus years to get to this point. There were also duplicates, etc. The Trustee said that some attrition was inevitable but it was higher than she expected. I'm not sure if this is exactly what you are suggesting, but 31% is not representative of claimants scared away by scrutiny. Link to comment Share on other sites More sharing options...
yknot Posted June 20 Share Posted June 20 2 hours ago, fred8033 said: It will be interesting to watch the numbers diminish. 31% of the claims went away without significant scrutiny. The average age of male claimants 4 years ago was about 58 years. According to SS actuarial tables, about 5,000 of them have likely died since then. It's possibly even more because the claim population was weighted towards the older end with about 13,000 being over the age of 70. Given that it's also a survivor group prone to such mental health issues as suicide, depression, substance abuse, etc., mortality possibly skews even higher. We don't know what percentage of these claims ended in compounded personal tragedy. 1 2 Link to comment Share on other sites More sharing options...
Tron Posted June 21 Share Posted June 21 17 hours ago, yknot said: The average age of male claimants 4 years ago was about 58 years. According to SS actuarial tables, about 5,000 of them have likely died since then. It's possibly even more because the claim population was weighted towards the older end with about 13,000 being over the age of 70. Given that it's also a survivor group prone to such mental health issues as suicide, depression, substance abuse, etc., mortality possibly skews even higher. We don't know what percentage of these claims ended in compounded personal tragedy. There might be some age impact here, 21% dropping out is huge though. Based on the mentality of this lawsuit and true goals I suspect few died and more just gave up as their goal was to destroy BSA and they failed to achieve. Link to comment Share on other sites More sharing options...
fred8033 Posted June 24 Share Posted June 24 On 6/21/2024 at 9:07 AM, Tron said: There might be some age impact here, 21% dropping out is huge though. Based on the mentality of this lawsuit and true goals I suspect few died and more just gave up as their goal was to destroy BSA and they failed to achieve. I view it as 31% (56,000 remaining from 82,000 claimed) as a payout of $3500 is nothing and the claims then are not really vetted or proved. I suspect there are so so many reasons that I don't like reading in reasons such as failing to destroy BSA. I suspect the number will continue to reduce, but perhaps not more than half the original. Link to comment Share on other sites More sharing options...
SiouxRanger Posted June 25 Share Posted June 25 This whole mess is an eternal shame on Boy Scouting. And it pains me. The best thing that I was ever involved in, Scouting, and the only thing I was ever interested in as a youth. And the thing that totally ruined the life of my best friend. Only 50+ years after his abuse did he tell me. He, a Phd in Geophysics, crippled by his abuse and alcohol. And just how long does the stench linger? Well, when introduced to serve as a board member of the local Red Cross unit, 40 years ago, like 1980, we (us new board members) were told that the "Red Cross NEVER charged WWI soldiers for donuts in World War I." Now, just drink that in. Savor it. (Rolling it over one's tongue does not improve the flavor.) Really? Donuts-donuts are a concern? Us, new board members in 1980, were being advised (by a Red Cross employee spokesperson) about the actions of the Red Cross regarding DONUTS during World War I? 1914-1918. So where does that leave BSA National in the wake of its Bankruptcy over child sexual abuse claims? One can hardly equate donuts to child sexual abuse. (It offends me even to type that line.) Does bankruptcy "absorb" the stench? Replies after 2124 will tell the tale. 2 Link to comment Share on other sites More sharing options...
fred8033 Posted June 25 Share Posted June 25 1 hour ago, SiouxRanger said: This whole mess is an eternal shame on Boy Scouting. We've been thru this. Views differ on the same facts. BSA had procedures in place before many others. BSA tracked and blocked many. BSA had training before many others. All of society is shamed. BSA is a scape goat being financially raided. 1 Link to comment Share on other sites More sharing options...
johnsch322 Posted June 26 Share Posted June 26 19 hours ago, fred8033 said: BSA is a scape goat being financially raided. Please do not try to paint BSA as a victim. 1 Link to comment Share on other sites More sharing options...
fred8033 Posted June 26 Share Posted June 26 8 minutes ago, johnsch322 said: Please do not try to paint BSA as a victim. We've been thru this. 1 Link to comment Share on other sites More sharing options...
johnsch322 Posted June 27 Share Posted June 27 23 hours ago, fred8033 said: We've been thru this. Exactly,,,yet you continue. Link to comment Share on other sites More sharing options...
JBWest Posted June 27 Share Posted June 27 Ah, fudge. Supreme Court undoes the Sackler settlement and third party bankruptcy releases. Still reading the opinion, but I was hoping to put the BSA case to bed this week. https://www.supremecourt.gov/opinions/23pdf/23-124_8nk0.pdf 2 Link to comment Share on other sites More sharing options...
BadChannel70 Posted June 27 Share Posted June 27 (edited) BSA plan is already consummated and is not stayed. Certain insurers have already filed notice with the 3rd circuit court of appeals regarding SCOTUS opinion on Trucker Insurance Exchange. Insurance companies with a financial interest in a bankruptcy plan are a party of interest. They filed on 6/18/24. Still very contentious and BSA plan may wind up in front of SCOTUS. Whether they would agree to hear this case or not, I don't know. Edited June 27 by BadChannel70 2 Link to comment Share on other sites More sharing options...
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