Eagle1993

He was live tweeting a deposition and exposing info that may have been privileged. Apparently, someone was on video taking cellphone pictures today of the hearing.

Remember back when we discussed here that we were shocked BSA allowed the Bates report to be filed on the docket. We thought it was good to have in mediation, but surprised they put it on the record. Now that is an issue. BSA and others are attempting to prevent the Bates report from being in evidence. AIG is attempting to get that in. Why? Because AIG is saying they don't need to provide anything as everyone is paid in full per BSA (Bate's report). Take this in addition to the Hartford deal as bad moves by the BSA. This isn't 20/20 hindsight ... we called this out immediately after the filing that it was likely a mistake. Now, I have no idea if it will have any impact, but it is currently causing issues.

No details, just PPT level info. 10 regions, 8 councils by region and the statement in a note "preemptive consolidation". Edit ... They also had a statement about too much collaboration slows us down. Take that as a sign on how this will be done.

Ok, there is a break in the hearing. I'm working while the hearing is in the background. From what I can gleam, AIG is asking how BSA executive committee was involved in pulling together the plan and also to clarify what they plan to do post bankruptcy. Speculation here ... it is almost as if AIG is laying out a case that BSA is attempting to dump most of the cost on insurers, sandbag their current financial situation and then post bankruptcy, show major cost savings and big donors to quickly recover (while insurance bares the brunt of the cost). AIG also spent a lot of time indicating the Coalition essential wrote the TDPs. My bet is that there are no more meetings going forward on how to respond post bankruptcy until the actual bankruptcy is finished. I'm sure BSA is probably not happy 455+ people on the call heard their plans to merge councils and freeze pensions.

Correct. I would assume a pension freeze. Now going through slides ... $400M from donors in by Dec 2023. Place HA bases in trusts. 100% debt free by Dec 2023. Focus on the $400M discussion that was removed as was the pension plan topic. That is being discussed now.

Explore pension elimination. Too much collaboration slows us down.

Focus on "preemptive consolidation" of councils. Going through handwritten notes of DD. 10 regions, 8 councils per region

Ok now certain insurers (AIG counsel) is going over that board retreat at Philmont.

I figured anything like that wasn't allowed ... glad I made the correct decision!

Now discussing details of interactions with the Methodist Church.

I think it was evidence provided by Devang Desai. I was thinking of taking screenshots but then thought that may not be allowed. To be clear ... there was a BSA executive meeting at Philmont in August of 2021 to discuss BSA post bankruptcy. These slides were created to summarize that meeting. Nothing is "approved" but it does give an indication of their thoughts. The actual slides showed was a redline created by certain insurers to show the various edits of the final presentation. So, for example, the original presentation had reduce councils from 250 to 80 and the updated (final) slides showed something like optimize or streamline councils. Probably fair to not hard set to 80 ... however, it gives an idea that major council reduction is likely needed. Overall, it looked like a fair assessment of BSA. We have a public perception issue with youth protection. We have been declining for a long time. We will be in >$400M debt post bankruptcy. Overall, I actually thought the slides made a lot of sense ... even if it could be upsetting. Would be very interesting to get more details.

Sorry for typos, but a lot of slides and info. Attempting to capture some of the points. This was from late last year. What is clear is: - Some sort of comment about single scout program (not sure what they mean) - Councils will be reduced ... not sure by how much, but you can see they were thinking >50% reduction - Debt is large - Outdoor was mentioned a lot - Goal of eveyone getting to 1st class - Expand recruiting & fundraising - Improve youth safety - CO model in flux (a bit) but may be getting better...

If you are going to watch any of this ... I'd recommend now. They are going through the post bankruptcy strategy for BSA. For example, th #1 - Become the National Leader in Youth Safety #2 - Grow our Membership by making our program more relevant, easy fun. - Fully digital progrma - Make a single program #3 ... Slide showed reduct of council down to 80 (that we removed and changed with streamline) Change how girls are included ... missed the details

I'm attempting to find the PPT being reviewed. It shows what is going to happen to BSA post bankruptcy. CO model may need to be replaced ... Councils in trouble ... $400M of debt. Very interesting. Apparently, it was from a Philmont executive meeting and a redline posted from Certain Insurers.

For camping I use StarBucks via packets. They are easy to use and just require hot water. I know others who look like they are doing science experiments when creating coffee ... yes, it does taste a bit better but the vias are good enough and much easier.

New topic created as confirmation hearing starting today. SCOUTER Forum

Confirmation hearing starts today, 10AM Eastern Time aaa8a70d-a7ec-4442-b5fc-9854abbf2a35_9262.pdf (omniagentsolutions.com)

I would agree, the majority probably have strong state court cases. There is probably a group that is confused and don't realize they are better off with this plan. Finally, there is probably a group that desires the BSA to fail or are looking at alternate paths (such as the global CH 7). I only hope each person voting fully understands the situation and are being properly advised by their lawyers.

Purdue had 120,000 and were able to get 95% on board and the district court rejected the plan. The question .... can you force someone to eliminate their right to due process against a non bankrupt organization through a bankruptcy ruling? Many district judges are saying no. Others say yes ... but only in very unique cases AND it requires overwhelming support. I've struggled to see many cases approved <90%. It doesn't matter if they would be better off or not. It is their right to chose their own path in the legal system. I question if district court was going to allow this before seeing the 85%. That 15% of individuals are rejecting this plan is a major iceberg that could hit in the future. I understand there is no actual # as this is working in the gray area of law ... but I was hoping to see at least 90% to help improve the chances of approval.

Yikes. 85% seems low. I'm still 95% convinced Judge LSS will approve the plan. I expect some minor changes, but she could have easily changed the direction during the RSA hearing. Also, I think bankruptcy judges believe bankruptcy is the best path for compensation and dealing with non debtors. However, that 85% will provide plan opponents some fire power during the district court review. I haven't seen the 3rd circuit district court review/approve a non debtor release since Purdue. I wouldn't be surprised to see plan approval in bankruptcy then kicked back by the district. At some point, it may become BSA only. I think Purdue and BSA are examples 1 and 2 on why bankruptcy should be limited to debtors only. In BSA, there would have been a lot less spent on legal fees. Simply divide up BSA unrestricted assets and move on. Insurance ... settle or let the trust go through the battles. Pulling in non debtors wasted time and resources. Yes, I expect the $ pot grew a lot AND those outside SOLs probably faired better, but at what expense (legal)? Perhaps all will work out in the end, but man, this is some ugly sausage making.

I caught the last 5 mins of the hearing today and it didn't seem like anyone was happy. Did anyone listen to the hearing? Votes were due yesterday ... any update?

Objections coming in again on the plan. US Trustee once again objects and now adds in more concerns about the IR process. 08a0295e-d9b5-49d8-9d9e-714eeea939db_9015.pdf (omniagentsolutions.com)

Could be. It would be interesting how the rates are vetted. Now, if they are charging for labor they didn't use, that is the red flag. Omni is one of the top expenses of the BSA to date.

Omni FRAUD?!? A former employee of Omni is alleging they are charging high fees for lower wage workers. $16 - $20/hour workers are being charged at $80 - $125/hr to BSA. Also claiming they hired 30 temporary workers who did nothing and they charged BSA. Also claims knowledge that the ballot count is incorrect, and COO lied to court. Finally, also claims they did the same in other cases, including USA Gymnastics ba0e24ce-e4d9-42b1-a318-937317f50c1d_8971.pdf (omniagentsolutions.com)

BSA plans an information session for COs. 744039d2-3d37-4750-a3ff-4a65f2a359ef_8904.pdf (omniagentsolutions.com)