Eagle1993

There seems to be three big questions that must be answered in the March mediation. What will be the National, LC and CO contributions to the fund. I think the insurance aspect cannot be covered until the estimates are complete for District Court. In terms of National, it’s pretty simple. Are the four HA based restricted assets. To me, it should simple be a matter of law. Are there clear deed/donor restrictions, does the JP Morgan debt take precedent on the claim and is Arrow WV separate. I expect the mediator should be able to help here and by simple I mean relative to the next to.

Send other reps from the TCC. I hope the judge denies the motion. I’m ok if they meet somewhere else, but it should be in person.

Based on what I am hearing, the $300M of LC assets are nearly 100% of unrestricted assets at LCs. Payment is expected from LCs this year so watch for a surge of camp sales.

Offer was made and accepted for CFL - $2.0M. Property will be leased back for 2021 summer camp.

Perhaps, but I would say 90% of the 5th grade scouts started as 1st graders. We advertise to every grade each year and rarely get new 2nd - 5th grade scouts. Like I said, there is a chance this could work. On the other hand, starting at Wolf might mean you have a lot of 2nd graders who will never be scouts that would have been scouts if you had a K5 or 1st grade program. It may be a good idea for BSA to encourage at some Packs who have shown a history of attrition either within the Cub program or greater than expected between Cub/Scouts BSA. Also, since I know they will never compl

Parents these days seem to select programs early. If BSA doesn’t have an offering for K5 and 1st graders they may never sign up. There is a lot more competition between youth programs now. That said, burn out is real. I wonder if there is a different solution. Perhaps Lions and Tigers are not part of a pack. They are stand alone programs between the District and parents. Low key, low cost and a way for the Pack to get a list of names and parents for the Wolf Scout Den. Tough decision as I see both sides of the coin on this one.

“has had an unforeseen and pronounced negative effect on the Debtors’ operations, including an 81% membership recruitment decline in 2020 attributable to school closures and social distancing measures.”

We are avoiding any communication to our parents yet, other than telling scouts this will be the last year to go to CFL for summer camp. I think I may know more by late April. If that hearing goes south and it looks dire, I'll probably raise the alarm with my life scouts. More like a ... hey, just in case ... you probably want to finish off your 6 Eagle Required partial merit badges you have been sitting on and go ahead and get that project we have been discussing approved.

My father-in-law went through mediation on a real estate sale. Yes, much, much smaller .. but still. Similar experience. After mediation closed, the mediator basically told the other side ... you will lose if this goes to trail. They closed on an agreement quickly after that. Mediators can tell either side when they are over the rails. I think if BSA & TCC walk out of the room with a deal, the councils & claimants will fall into line. Councils will be told that if the deal falls through, National will liquidate and essentially councils funds will all go to legal fees.

Key will be October/November numbers. Can Cub Scouting rebound post Covid? I think it will.

They lowered the age limit for many power tools. I’ll give a thumbs up as I see this as a move in the right direction!

My one frustration is that the judge doesn’t seem to make many rulings. For example on discovery, she seemed to like the idea but deferred to District Court and that process. When will she officially decide on the HA based or councils as separate entities. Outside of a stern message, what legal pressure is on the groups to reach a settlement? What can she do to force a tight timeline and is she doing it?

Yes. Regions and areas would be replaced.

https://www.wsj.com/articles/local-boy-scouts-councils-agree-to-cooperate-on-abuse-victims-probe-11616017053 "Under a pact approved Wednesday in the U.S. Bankruptcy Court in Wilmington, Del., lawsuits can be filed against the local councils that hold the bulk of the Boy Scouts wealth, but the litigation won’t progress until mid-July. The trade off is that survivors’ lawyers will receive detailed roster data needed to identify local councils and other organizations that chartered individual troops where the sexual abuse took place."

Any surveyor stakes?

Not sure if this has been sent out previously. Looks like just a proposal. 2125723974_BSAChurchillPlan-ProposedNewTerritoryStructureandCouncilStandardspresentation10.6.20.pdf

I would also add, that while technically they need 66% ... if the TCC supports the deal and 52% of the claimants, I could see the judge accepting the deal. From the TCC townhall, they talked that no judge approve a deal over the objections of the sex abuse survivors. They didn't necessarily the 66% approval. I bet when the TCC approves, they will get close to the 66% and the Judge will approve. No deal will be done until the TCC approves, so just focus on that for now.

I will say, from my experience, Wisconsin scout property typically sells to logging companies. They'll go through and remove most of the trees then possibly lease the land for farming. Its pretty far from populations and the lake is very small ... so not a ton of value of water frontage in this case.

Single. CFL is essentially the property pictured below. In Wisconsin, you cannot technically own lakes, but they own the property around the entire lake. The claim is that it is the 2nd cleanest lake in Wisconsin. I have no idea what the property will sell for ... my guess its outside my price range.

To me, this makes a ton of sense. I love private lake camps ... but if the balance is no camp or sharing a lake, I'd go for a shared lake. Most of the time, scouts do not need the entire shoreline. We need a waterfront to swim & and boat launch area. I hope some councils consider this option as it could net a large portion of the camps value while still maintaining a local summer camp.

In the CFL sale, my understanding is that they will list it at FMV. If it doesn't sell, they will transfer ownership to the trust at FMV. The trust can then sell the property at FMV in the future.

Its great to hear ... but at $10M/month, it feels like we will lose 3-5 local camps each month this trial goes on. Hopefully the BSA & TCC lawyers finally sit in a room and don't leave until there is a settlement. No food, no water, just sit. Heck .. perhaps we can put them up at a camp site in one of our camps. They have to make their own fires, cook for themselves and not leave the area until there is a deal.

This will be interesting if it moves forward. Has she discussed restricted assets (JP Morgan/Summit)?

The law firm needs cash flow as well., I don't see them working for credit. So ... perhaps JP Morgan can loan the BSA MORE money that will then be spent on lawyers. Or National can special assess councils (each council needs to provide $1M or they lose their charter). Or they sell properties to fund legal expenses. Even at $10M per month, I think the BSA can find cash to support this for a long time (unless they decide a better strategy is to liquidate National).

Anybody watching the zoom of the Chapter 11 hearing today? Any punches thrown? Just heard that there was an exchange that $100M has been spent on lawyers to date and $150M will be spent by August. Judge called it "staggering".