This gets back to Kosnoff's Fantasy that all 82,500 victims can go back to state court tomorrow and sue, sue, sue.
As noted, over 50,000 claims are time barred. So no Mr. Kosnoff, you are simply wrong.
So this "let's go back to state court" idea may sound and work great for SOME claimants, but for the vast majority, not so much.
This simply borders on what I've described before as magical or wishful thinking. Kosnoff's never, ever provided a LEGAL argument for why 50,000+ statutes of limitation suddenly disappear overnight.
Kosnoff: Plan 5.0 is "worst most appalling treatment of abuse victims ever." Victims get "less than 5000."
First, I think his point is that given that 5.0 releases LDS and so many others (Hartford, COs after 1976, LCs, and of course BSA) for what amounts to $2 billion that it is "appalling".
Second, the "less than 5000". I am not sure what his math is, but I have a guess.
$787 million from Hartford (but that may ONLY go to those claimants covered by a Hartford policy, not all 82,500)
$250 million from LDS (but that may ONLY go to those claimants abused by LDS leaders/in LDS units)
$600 million from LCs (but that may be broken down by LC?)
$250 million from BSA (but that includes $90 million in cash that BSA says may be gone by 1Q 2021)
For a total of $1.887 billion divided (perhaps) across 82,500 claims = $22,872
So, I am trying to figure out where he is getting "less than 5000"
82500*5000 = $412.5 million
LC ($600 M) + BSA ($250 M)/82500 = 850,000,000/82500 = $10303 - 40% attorneys fees (this is a guess) still gets above $5000 ($6181)
BSA alone = $250 million /82500 = $3030.
So, it looks like Kosnoff's "most victims get...less than 5000" refers to the BSA contribution.
There's a second possibility and that is he's acknowledging the reality that the settlement trustee in in fact going to take into consideration statutes of limitations and therefore NOT pay out 100% on claims from states where such statutes of limitation exist.
Also, as I've pointed out before: even total liquidation of BSA doesn't get victims that much more.
Let's pretend a second that BSA liquidates and (through some magic) has NO liabilities other than paying out to the victims. Again, that is PURE fantasy as there are other claimants and creditors out there, but let's just use Kosnoff Magic (tm).
All $1 billion (or so) of BSA National assets are instantly made available to all victims (again, notwithstanding statutes of limitations, whether the claim is valid, etc.)
$1 billion/82500 = $12,121.