Eagle1993

Kosnoff Law "This bankruptcy may go down in history as the only instance in which the judge never made a single, solitary ruling. Survivors would have been better served by a used side by side refrigerator with a broken ice maker and wrapped in a black robe."

This definitely sounds like they are finalizing a settlement to cover National BSA and Councils ... or at least a framework of a settlement. BSA was clear, they need to exit by end of summer. We could argue if that was 100% true, but it was clear they were burning cash and running out. If BSA is now asking for an indefinite delay ... that can only mean they realize that a mediated settlement is the only closure path. I expect the plan would still go to a vote ... but no need to fight within court. I wonder if the HA bases are in discussions and if the LC settlement is more along the l

This thread started in the bankruptcy thread with a post about the LDS relationship with BSA and a statement that the LDS is more at fault than BSA and should contribute a large amount to the settlement. It quickly veered in a deeper discussion about LDS reporting practices and after a few pages of posts, I thought it would be best to pull the discussion out of the bankruptcy thread (as it had little to do with bankruptcy) and make it its own topic. Part of that goal was to allow those who were not following the bankruptcy thread to realize what discussion was taking place and take part (if

Ok ... moved the National Annual Meeting discussion to the NAM thread here: I also created a new discussion regarding LDS Abuse Handling. It seemed to start a bit related to CH11, but then diverted a lot and may be missed by others who are interested.

There is now an approved alternate to Cyber Chip for Scout & Star Ranks. This Personal Safety Awareness may be used in place of the Cyber Chip requirement for the Scout and Star rank. If used in place of the Cyber Chip requirement for a rank, Scouts are encouraged to inform their Parent or Guardian and unit leader of the replacement prior to viewing the videos. https://www.scouting.org/training/youth-protection/scouts-bsa/

I saw that as well. I'll also say Kosnoff is not screaming on Twitter about this ... more like they are apparently close to a deal. I won't believe it until I see it ... but perhaps the BSA leadership is correct at the NAM, they are close to a deal. BSA really doesn't have an alternate as they are burning through cash right now. Mediation may be the only way to close this out quickly. We will see....

That is true. The delay could give TCC and others the ability to say they tried mediation to the fullest extent and it is time to allow other plans.

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/e97b2e05-5d1f-47ac-a4e2-541eb269322c_5219.pdf Major mediation update... request delay to June 11... Getting close to agreement. TCC will agree to the delay. Flashing lights ... we may be close here...

I thought the same. She could have just left it at how sad the letters were. I read a lot of the letters, most do not say she needs to save the BSA ... so I was surprised she picked those. I was wondering if she was attempting to send a signal where she was headed. I just wonder if the Coalition thought ... let's try and get the best "voluntary" offer from the BSA before they get a ruling from the judge. If the judge continues exclusivity, I think that is a sign she is headed to approving the BSA plan.

In terms of this case, the judge has been very supportive of everyone, but has been very apparent she wants BSA to survive long term. When she mentioned the letters, she said she couldn't read them all, but she emphasized that several indicated they want the BSA to survive. She seems more focused on BSA's survival than maximizing a payout for claimants. I've also followed the USA Gymnastics bankruptcy and that judge has ripped the Olympic committee and said dig deeper. There is a major tone difference. She has never said that to the BSA. While cramdowns never happen, I would no

BSA's latest financials https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/2f5112e6-d8c5-4fe3-b63b-dab01932cba9_5180.pdf They gained $4.4M over the month of April 2021 in available cash. In 2020, they gained $1.2M. Now the details in 2021, we are seeing higher income from HA bases (+$2M), Supply (+$3M) and transfers from investments (+$11M) than 2020. On the cost side, payroll is up ($3M),, trade AP is down ($0.7M), and a combination of other expenses & capex increased ... so total non bankruptcy expenses are higher in 2021 ($4M). Bankruptcy expenses are u

I've started and stopped writing my thoughts several times. I do think our leaders love the movement, but I don't think they are the best face for scouting right now. You can be older and active. You can be larger and active. But the key is active. If you are running our scouting organization, you should be outdoors and active. I rarely see our leaders, out in the field, camping, hiking, canoeing, etc. I would love to see much more social media presence from our individual leaders, highlights scouts, highlighting their own personal adventures that could be attributed to scouting,

I keep hearing the program and how we deliver it will be greatly changed after bankruptcy. After bankruptcy we will rebrand. Etc. They have to have some ideas when they keep saying this .... what are their ideas? What do they mean?

From what I have read, the rumor is the TCC is not being included in the negotiations. Essentially, the BSA has collected a group of claimant representatives >50% and is working with them on a settlement. There may be some truth as the Coalition agreed to delay the hearing but the TCC objected. Does anyone know if the TCC is actively part of the current mediation or are the being excluded? I know the target is 66%, but I wonder if the judge would accept >50% yes votes and if BSA has identified a path to yes with 42,001 claimants. There could be a lot out there that are just loo

We had. Den leader talk to his den about Greek and Roman gods. One of the scouts asked why these gods are no longer believed in. The leader said that well, people stopped believing in those gods and moved on to other religions. Then the scout asked... what happens when people stop believing in today’s God(s). Den meeting over..... I think our Faith den meeting created some agnostics.

Moved the Michigan discussion to a new topic.

I have to believe MSU and Nasser come to mind. They cannot be caught flat footed again.

They did the same with the Catholic Church. I expect they will start with search warrants soon. You will see pictures of agents going into all scout offices and pulling files out. The good news is that I expect leaders and anyone who covered it up to be charged and probably go to prison. Michigan charged a priest for assaults dating back to the 1970s.

Scouting University... https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/62be061b-eeb1-427a-9416-8e57a135751f_5095.pdf

TCC mentioned that this is as a typo in one of their town halls.

Riddle me this, Batman. BSA is saying they are out of cash end of August. They just delayed the hearing which means everything is delayed 2 weeks. How do they complete this now by the end of August? I expect that if the TCC’s plan becomes public, BSA is going to have a nightmare on their hands as it will likely show a large number of council camps sold. They will hear screaming from volunteers who are not aware of what is about to happen. Perhaps, just perhaps this means BSA will really try to settle over the next two weeks. They do not want that TCC plan made public if they can

Looks like BSA is negotiating with some but not all victims (or leaks to WSJ are simply not consistent). "The Boy Scouts have made progress in recent days toward a potential agreement with a coalition of law firms that represents the bulk of the victims who have filed claims ... people familiar with the matter said." then there is this "... the Boy Scouts are farther apart from a separate official committee of survivors, other people said." Who are the major law firms involved and how do you get to >42,000 without the TCC? Kosnoff is 17,000 and I don't see him making

The question is fraud. Did BSA do this with the intent of fraudulently protecting assets. If you noticed, the Coalition hired a lawyer that specializes in fraudulent transfer law. If it was fraud, JPM will be out of luck.

I think BSA would say ... the HA bases along with other unrestricted assets should be decided at trial. So basically, lets setup the trust and get agreement. If the judge declares some of the assets are actually unrestricted, those could then go to the trust. But there is no reason to hold up the bankruptcy for the trial that will take until 2022. There are actually 2 major players regarding the HA bases. One is National. They profit from the HA bases and believe they help recruit/retain scouts. The other is JP Morgan. JP Morgan loaned BSA hundreds of millions of dollars, using the

That was my second thought. My first was hopeful (that perhaps this is a good sign). My second is that this judge is struggling to make any decision as this is a Sophie’s choice situation. So, she will wait it out and let fate decide. Which could mean both groups lose out.