Eagle1993

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/e6463ebf-5761-47e7-9e21-2a9358c45549_3857.pdf No evidence ... however, I do believe Century requested Discovery from BSA and others.

Apparently they broke zoom. https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/f4390fd2-ca3c-457a-bff5-95afa2d61e1e_4686.pdf

Moved the discussion about BSA youth protection vs society and other programs here. Let me know if you need any comment moved back to the main CH11 thread. Thanks!

I'm going to quickly lock the thread and create a new topic. I think the discussion is valid and has been courteous ... but isn't directly linked to the bankruptcy discussion. Plus, we have 2 - 3 separate discussions going on here and it is a bit confusing. Will unlock shortly.

This thread has most of the info in this article. That said, some quotes from BSA including this one about Century Insurance. https://www.nbcdfw.com/news/business/details-on-local-council-finances-filed-in-boy-scouts-case/2635256/ Note that Century has accused the BSA of allowing thousands if not tens of thousands of false claims to remain on the books. Their belief is that BSA wants the false claims as those individuals are more likely to take the $1,500 payout and vote yes to their plan. Century said BSA is buying votes of false claimants. So, Century wants to pause this until the claims are vetted.

Well... LDS just served the BSA. This relationship has soured https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/1f0068a3-a7a6-468f-a9a7-9f64b80210e2_4659.pdf

Welcome to Scouter.com. The BSA would absolutely prefer the global resolution plan. It provides protection for their LCs and COs. The issue is that the claimants do not believe the offer is close to enough to give the liability waivers. Why would anyone vote for the toggle? Well, technically BSA is not even looking to get the toggle approved by claimants. They are asking the judge to enforce it through a cram down if the global plan is rejected. There are a lot of moving parts. Hopefully some come to a resolution tomorrow during the hearings.

If you look at National Only ... proceeds from liquidation would be $497M. Then liquidation fees (lawyers, wind down costs, etc.) would be $48M Secured claims (JPM + Pension Termination Claim) would be $337M Employee and professional claims would be $69M That results in $42M for everyone. BSA predicts Abuse claims would be $36.5M best case. If you look at Councils ... proceeds would be $1.8B (that assumes 0 sales of restricted land and a 60% return on unrestricted) ... essentially, that in a flash sale, you won't get much value. Asset Value is actually $4.0B for LCs. Then liquidation fees (lawyers, wind down costs, etc.) would be $210M Secured claims (JPM + Pension Termination Claim) would be $1.14B Employee and professional claims would be $11M That results in $445M for everyone. BSA predicts Abuse claims would be $405M best case. So, National is offering over $100M >> $36.5M if it were liquidated. Councils are offering $450M > $405M if they were liquidated. This is per BSA numbers. This also assumes >$1B goes to the Pension Fund ... which I know is being debated.

I expect the high adventure bases (and other restricted assets) could take years. Even after that initial trial November 17th ... there will be appeals. I do hope that after that trial, it may then allow a negotiated settlement afterward ... though parties may wait until after a round of appeals. I don't plan on knowing if the HA bases remain within BSA until the end of 2022. We have decided to not go to BSA HA bases in 2022 and 2023 given the risk. Note that I expect similar battles at councils. The most valuable camp in the entire BSA appears to be this gem.. https://alpinescoutcamp.org/ ... estimated to be worth $175M and is listed as restricted. I expect a battle.

More interesting tidbits. The BSA also included a possible liquidation analysis for 100% of local councils. Essentially, if the court agrees that all local councils would be liquidated if National must liquidate. The BSA is showing that essentially, the abuse claimants would get <$400M total between National and all LCs if the entire BSA was liquidated. That is their best case. So BSA is saying their current offer is better than what would be provided if the entire BSA is liquidated.

Some other interesting numbers from BSA's plan. Global Resolution estimate for # of youth members 2021 1,050,000 2022 994,000 2023 978,000 2024 984,000 2025 1,011,000 Toggle Plan estimate 2021 1,032,000 2022 911,000 2023 859,000 2024 866,000 2025 916,000

Schedule appears here... this will take the rest of the year, perhaps longer. https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/2e4fa3fc-bdfe-4582-9bac-60034eb0ef27_21.pdf May 28 - Disclosures due June 30 - Document Prodcution Jul 30 - Fact Discovery cut off Aug 20 - Expert Testimony Discovery Sept 24 - Expert Discovery cutoff Oct 8 - Dispositive deadline Nov 17 - Witness list Nov 17 - Pretrial Conference TBD - Trial

Per shared document... looks like updated HA base valuations. Philmont value... $153M Sea Base... $29M Northern Tier ... $8M Summit Note $43M The note from Summit is over $300M but they appraised Summit and looked at note and it’s value is only $43M.

There is a ton of info in this document. It includes a plan to continue to increase fees through 2025. Focus on increasing online programs for Cub Scouts. Targeting girls to increase membership. No Jambo in 2022. Financial data, etc. even those not interested in bankruptcy could find some info regarding the future of BSA.

Here is the file with all council assets detailed by the BSA. It also includes camp by camp value plus details how many claims are NOT time barred. Just search any council. BSA - Proposed Amended DS (omniagentsolutions.com)

Hearing to be held May 19th .. more info below. Link - May 19th hearing

I tend to agree; however, it does seems like the NY mediation was better than Miami. The TCC in their townhall was almost offended from the Miami interaction, but seemed more positive about NY. I don't expect it before May 19th, nor did they indicate they were close ... but perhaps they are making progress. One could hope.

Not good. But there may not be a choice. I'm sure BSA would love to provide protection to the CO/LCs ... but if the plan is rejected (either by the judge due to the long list of issues or votes) ... The only likely path is a National only settlement. Also, I am interested in the judge's take on the DOJ objection. It seems like the bankruptcy trustee from the DOJ believes that no settlement can be allowed legally that provides protection to COs or LCs (as they are non-debtors). I hope to learn more during the May 19th hearing.

Century Ins filed a motion to delay the hearing (due to BSA’s document dump yesterday). I hope the judge denies the request. We need this hearing so we can see the court rule on this proposal. Is it even close to good enough to go to a vote? What is the impact to this case from the DOJ objection? Time to make progress in court... no more delays.

@johnsch322 Welcome to Scouter.com.

I do not see anyone on this forum saying that. I see people comparing to other organizations to indicate BSA may be safer. I see comments that if BSA is closed, kids may actually be more at risk. That is not saying sex abuse is the cost of having BSA ... its the exact opposite. Now ... are these stat comparisons fair ... likely not. But I believe the clear intent is to understand how BSA's safety compares to other organizations with a clear goal of ensuring BSA is safer. I fully expect changes from this bankruptcy. I believe BSA has been too timid sometimes acting on change (for example, requiring YPT to register). However, I still see BSA as much more active in this space than GSUSA or sports teams I have been involved with. Most unit leaders spend time considering YP aspects when planning events. Every Eagle Scout project I review includes a discussion of safety and YP coverage. This is drilled into us by the BSA. So ... I expect changes and some of which are probably a bit overdue (more openness in reporting). However, I have a hard time saying BSA doesn't take this seriously.

From the TCC Townhall, they did mention that there would be redactions.

There has been some discussions about BSA restricted assets and questions about a "trial" regarding these. This seems to be captured under a docket labeled Adversary 21-50032 (TCC Identified Property Action). https://cases.omniagentsolutions.com/documents?clientid=CsgAAncz%2b6Yclmvv9%2fq5CGybTGevZSjdVimQq9zQutqmTPHesk4PZDyfOOLxIiIwZjXomPlMZCo%3d&tagid=1250 This covers the following topics where BSA says the assets are restricted: Bank Account Cash - $39.9M LC Collateral - $62.8M General Investments - $81M Order of the Arrow - $7.4M Philmont, Northern Tier Sea Base - $63.3M Donor Restricted Pledges Receivables - $76.6M Misc Summit Assets - $6M Gift Annuity - $8.1M Note Receivable from Arrow WV - $345M All of these were considered restricted by the BSA. You can review the back & forth in the docket.

The plan will not be approved without changes to BSA's youth protection. The TCC was clear, they need at minimum, the amount from BSA as if they were liquidated + the YPT changes and release of all IVF (redactions as appropriate).

My understanding is that they are making the training better for mobile applications and updated some test questions. One of the councils had that info.