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Eagle1993

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Everything posted by Eagle1993

  1. Even if you throw out 100% of master ballots you don't hit 90% approval which has been the case referenced by most as the value needed. It's too bad the hearing was cancelled today. It would have been good to hear from the judge. It feels that they are just burning cash right now without clear direction.
  2. Almost no change to the direct abuse claim vote. There were some minor changes on opt out number. Also, BSA may object to some master ballots based on their questions about proper power of attorney paperwork. However, the master ballots themselves passed review and were accepted. https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/ea7975fa-08bb-4e03-b739-96a7062815a0_8345.pdf
  3. BSA just filed several updates to depositions they had scheduled. All were going to occur tomorrow, but they have been delayed to Jan 19 - 21. Still waiting to see the final vote posted. Also note that the judge is fully booked Wednesday this week. So, no clues found looking at the rest of her schedule. It actually looks like she is pretty booked until January 24.
  4. Yes it is, so that may be interesting. I would think any change would require more discovery into voting and vote counting. I was wondering if perhaps Omni/BSA/LSS are aware of a major vote change (moving to 80%+) that would cause the meeting to be cancelled. However, there were many other concerns listed that even if the vote increased greatly, the hearing would have been helpful. In addition, a major vote count, in and of itself, could cause a need to revisit the schedule. So, I lean to the options of.. BSA has a change in direction (updated plan and/or updated strategy)
  5. What changed since the hearing was created? Why would the court schedule a hearing (after seeing the request from TCC and objection from BSA) and then a few days later cancel the hearing? I would have been optimistic, but after seeing the last BSA update, it seems like they are headed in the opposite direction so I tend to doubt any new plan will be announced. Now, one thought - recently the Ann Taylor non debtor releases were rejected (now two cases are in limbo) and perhaps the court, BSA, others are rethinking what needs to be done here. That decision came out after the BSA hearing
  6. Insurance company raises concerns that KR is delaying his depositon and there are 50 scheduled and must be complete by Jan 28. Basically, they are saying, sure voting issues are a concern, but there is a ton of legitimate discovery & depositions and there is no way to complete it per schedule. 309b8315-0640-4e92-a7d3-5de0e2e9d091_8331.pdf (omniagentsolutions.com)
  7. I agree; however, parents need to know their kids and do a check for those who need it. We had a scout attend a cold wet outing. While in the 60s in the day, it dropped to low 40s and rain in the late afternoon. He had shorts and shirt with no pants, sweatshirt, rain jacket, gloves, boots, anything. He had his fishing pole (even though we were nowhere near a lake/pond/river/body of water other than puddles of rain). It was pouring so much that it saturated all rain gear ... so we struggled to find enough dry/warm clothes for him (he was a large kid). We told his parents, they said yep, w
  8. There was a church in my town that was purchased by a developer. They tore down the church and are replacing it with 7 new single family town homes, each sold for $1.25 to $1.40M. Land in some areas is very valuable ... so it really depends on where the church is located. It was sad to see a church torn down.
  9. Another district court has sent a bankruptcy back due to non debtor releases. Fourth Circuit. Purdue is in the second district. Prof. Jacoby on Twitter: "Like in #PurduePharma, a VA district court has just invalidated third party releases in a retailer bankruptcy (Ann Taylor/Dress Barn/etc). Unlike in Purdue, district court sending case back to bankruptcy court. & tone of opinion is ... different too (see below)" / Twitter
  10. I definitely that that is an option and it could be about COs. My other thought is that BSA knows this plan is dead. So, who do they blame? The TCC. Lay out the case that the TCC is not fulfilling their role Clearly 74% of claimants like this plan and the TCC is in the minority The TCC is just wasting the estates (trust's) money by fighting further The TCC sent that awful email The trust fully pays off survivors The TCC is obligated to represent all survivors and they are not The, when the court says return to mediation, throw a fit and submit a re
  11. I see a two month grace period referenced here: 2022-Charter-Renewal-Handbook-Revised-24-Aug-2021.pdf (ncacbsa.org) In addition, I know units have been able to register for HA bases without active charters. However, I would not want to be in a situation where someone was hurt or worse and be looking at grace periods/etc. If it looks like this is more than a minor correction in internet rechartering or sending in a check, I would absolutely look at finding a new CO immediately (or getting the council to agree to the facility use permit).
  12. We were told there is some buffer. It sounds like it may not be a hard stop January 1. BSA understands a large number of charters are not renewed in time. I'm trying to get a bit more info.
  13. I'm actually ok with BSA being aggressive publicly against the TCC. I think it is a fair debate if the current plan could be the best one overall for all survivors. BSA's mistake is now having to defend saying they will fully pay all abuse survivors. In the disclosure statement, they didn't make that claim. I think that allowed BSA to say ... this is the best plan for you and we could never fully pay off all of the victims. It allowed some flexibility and to appropriately set expectations. However, now, in a court filing, they state " Survivors of Abuse Will Be Paid in Full U
  14. 100% agree with this statement. The court filing states (and bold is in the filing): Great! In fact, if BSA's law firm is so confident, perhaps they would insure the trust that if the trust ends up running out of $, Bates White will guarantee making up the difference! Or, if that doesn't work, I'm sure an insurance company would take a small payment to provide the insurance given how many degrees Dr. Bates has, I'm sure his analysis is spot on! I think they would get 100% of the vote, TCC on board, BSA, LCs and COs out of this mess! I go back to my prior commen
  15. Split off the discussion about rechartering.
  16. We are also stuck with the money issue. One issue is the online system is going to charge adults in multiple units multiple times. We are just going to pay and then get refunds later. A bit of a mess.
  17. I know in my district, about 20% of units haven't even started the rechartering process as of Jan 1. I would guess more than half haven't completed including payment. Normal years, DEs spend most of December and January chasing down these charter documents/payments. May be more of a mess this year with some COs balking.
  18. In some parts of the world, the only bankruptcy is essentially CH7. You can't pay your bills, fine, appoint a trustee, sell off everything and pay your creditors. 1) It probably makes you a bit more careful about taking on excess debt ... something I think US non profits and businesses seem to ignore. 2) Not much money to be made by lawyers. Watching this, I tend to think those other countries have it right.
  19. What I find interesting is that TCC, long ago, argued that they should go to district court to calculate damages and determine what claimants are owed. BSA pushed back hard, said there wasn't time, there is no need (as this is bankruptcy so they wouldn't have enough anyway), etc. I AM SHOCKED that BSA is now apparently claiming the opposite. I don't have experience here ... but if I were the TCC I would say this is now a critical decision that must be decided in district court. BSA may have exposed their flank. This reminds me once when I responded to a European regulator with a 3
  20. This is exactly what BSA was doing up until yesterday. BSA has now changed tactics. They are arguing that there is now enough money to pay everyone in full. Why does that matter? They are saying there is no need to look at chartered organizations, local council finances or insurance companies as the settlement trust is already set to the value that pays 100% of claims in full. So, they are attempting to price tag this type of victimization and the price tag they place on it is about $36K per claim. I have a hard time seeing this path as a winning one.
  21. Very long document, but I'll try to simplify. 1) Most of the claimants are older. Older people don't get big settlements in sex abuse cases. 2) Most of the accused are only accused once. Bigger settlements come in when there are accused with multiple victims. Why? Because BSA liability would be less and more liability would be on the victim's parents, others, etc. So ... when adjusting for these factors, the analysis shows the average value of each claim times number of claims leave them at the settlement amount.
  22. Boy Scouts Says Abuse Claims Likely to Be Paid in Full, With Lowered Liability Estimates - WSJ Prof. Jacoby says there are two issues with BSA's statement: 1) Valuation ... is BSA correct in their valuation? 2) Trust administration ... even with a $3B trust (if it hits that number) there are trust admin fees and costs that means that $3B will not all go to claimants.
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