Patch Trading Central
Have a patch or memorabilia you're looking to swap? Use this virtual patch trading blanket. (This area is intended to facilitate memorabilia swapping, not necessarily commerce.)
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LATEST POSTS
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We should follow the President's lead and just start selling Eagle scout ranks. Two birds, one stone. We raise a lot of money and take the kids who only care about a patch (especially their parents) out of the program. Heck, for enough money, we can throw a kid in a river, setup your kid in a harness system, have him "save" the other kid and he could earn the heroism award. Hopefully the family can be redirected, otherwise, these are the worst parent(s) to have in the program. -
Certain claimants would have been better off if the plan failed. Even assuming National was maxed out (I think there is an argument that the HA base debts were questionable), they could have sued their council, CO and various individuals. Some CO and councils would have had significant assets to take, others almost nothing. So, while some would be better off, others would have been much worse off. The other source is from reinsurers. That was/is expected to provide the backstop if money is out.. but we will see if it works. Im not surprised the settlement is being used up faster than planned, but that could slow over time. BSA financial health is also questionable. Debt is still high, membership is now under their business plan and I'm not sure their raised the capital they thought. I wouldn't be surprised if they are back in bankruptcy in a few years.
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By johnsch322 · Posted
Correct the majority of claimants voted yes but only because $2.4 Billion seemed like such a large number and the witness for the BSA said based on his analysis claimants would be paid 100%. The sad truth is that if claimants get 25% of their determined claims (the dollar amount the trust values a claim) it will be a miracle. The outcome will be much favored towards the BSA/SA vs the Child Sexual Abuse Claimants. With a little bit of math this was very evident before any votes were cast and was one of the reasons I voted NO twice. -
The only reason the judge allowed non consenting non debtors (councils, individuals, charter orgs) to be part of the bankruptcy was that the analysis showed all creditors would be paid in full. If that analysis was incorrect, then councils and charter orgs wouldn't have been covered. I think most BSA members and most plaintiffs agreed the deal made was the best possible outcome, but there were plaintiffs that objected.
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524-95625-Annual-Charter-Agreement.pdf Section II.A.
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