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Cburkhardt last won the day on January 27

Cburkhardt had the most liked content!

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About Cburkhardt

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    District of Columbia
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    Scoutmaster of Scouts BSA Troop for Girls in District of Columbia. 37 Scouts, 9 Scoutmasters, 19-member Committee. AOL/Eagle/Quartermaster/Vigil as Scout. Past Positions: District Chairman, Area Venturing Advisor (Central), Council VP (Abraham Lincoln, Springfield IL), Region Membership Chair (Central), National Venturing Committee V Chair, National Second Century Society Chair, Area President (Central 8), National Income Development Chair, Council President (Pathway to Adventure, Chicago), National Advisory Council, Assistant Webelos Den Leader.

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  1. Dear Moderators and Friends, Last year some of you may recall that I actively hosted three lengthy postings in advance of the bankruptcy filing. My purpose was to prepare the way for a great reorganization filing that I believed would result in a plan agreement and approval within six months or so after the filing date. The discussions were serious and hundreds participated. COVID destroyed that possibility, leading some claimants Attorneys to smell blood in the water. They have gone in for the kill and Scouting as we know it could end. Several commenters joined claimants attor
  2. Too many Americans have been staking out absolute positions and daring others to cross a rhetorical line. Sometimes the rhetoric on even this site has trended in a similar direction, with folks just not showing respect for reasoned but differing views. The divisions that evolve reduce our confidence in our nation's Constitution, and similarly in the fundamental approaches in Scouting. The WWII combat veterans who were the Scoutmasters and Skippers of my youth were not that way. They fought hard in a war to ease my way through life, and Boy Scouts and Sea Scouts helped make me what I hope i
  3. Inquisitive: The point is that eroding the confidence of BSA professionals and volunteers regarding the post-bankruptcy future of the BSA by continuing to pound negative PR well after the claims filing deadline has rationality for the claimant attorneys -- at least the ones that favor liquidation. If the core of the BSA were to lose faith in its long-term future, the Judge could take that into account in determining whether to approve a reorganization or order a liquidation.
  4. The future will largely be defined by the result of the private negotiations going on right now. Because it may be extraordinarily difficult to come to an agreement acceptable to all major parties, a principal determinant of BSA's future may be whether there can be a financial arrangement the Judge will deem acceptable to order as a cramdown. She is uniquely empowered to balance all of the factors commenters have posted to this string. She really has in her hands the discretion to make the call here. That is why bankruptcy judges are often thought of as one of the most powerful commercial
  5. Here is the answer to the question regarding whether BSA professionals/retirees would have an economic incentive to favor liquidation over reorganization. If the pension benefit guarantee fund were to take over the account, the longer-time and higher-paid employees will have their monthly payouts significantly reduced. Some of the monthly checks would get cut from the 15K-20K/ month range down to $5K/month. So they overwhelmingly favor reorganization. For lowest-paid or short-term employees there is not much of an issue.
  6. The claimant's attorneys want the largest possible amount placed into a Victims Trust Fund, so they have the economic motivation to file as many claims as possible and argue that, within the totality of claims filed, all are valid. The insurance companies want the lowest possible amount placed into the Victim's Trust Fund, so they have the economic motivation to uncover fraud and other facts that would diminish the value of the totality of claims filed. In a way, the BSA is somewhere in-between, because it wants to see justice done for victims via payments, but also wants to retain sufficien
  7. Remember, the current process is that all parties are trying to negotiate an overall dollar amount that goes into a large trust. The existence of fraud at this point is a factor that the trustee and judge take into account in determining the overall amount necessary to pay valid claims. If the trustee/judge conclude that a percentage of the claims are likely to be fraudulent, they will order a smaller amount to go into the trust. The insurance companies are just trying to lower the overall dollar amount of the trust at this point. If their allegations prove true, the amount to fund the tru
  8. Quick answer to CynicalScouter: I think a reasonable funding window could be 1-2 years. That is plenty of time to marshal assets and submit a trust contribution. Just my speculation though.
  9. Looks like the conversation is going in another direction, so I'll end my thoughts by simply sharing that I highly doubt a Victims Trust Fund would be funded by future national registration fees. This would be too unreliable a funding source in a bankruptcy negotiation. Registration fees might continue to increase for other reasons, but not to fund a trust. I remain supremely confident that the BSA will get through this for several reasons. We still have a great purpose and many great supporters. And, the nature of the bankruptcy reorganization will assist us do justice by providing r
  10. The potential method and formula for funding a BSA Victims Trust Fund is the subject of highly confidential discussions at this point, and anyone having that information should maintain the confidentiality of it. Anything I share here is not inside information, but just general bankruptcy information. The normal circumstance is to fund a trust of this particular nature within a reasonable time after a reorganization plan is ordered by the bankruptcy court. That's because we don't have near-guaranteed future consumer spending to rely on (like future proceeds from the purchasers of tobacc
  11. Very directly put, the claimants and their lawyers should want to see a BSA national and the councils to continue to exist so they can continue to pay into the pension plan. If national liquidates, the Guarantee Corporation attaches pretty much everything. I share this to encourage everyone that there are significant reasons why the claimants will want to agree to a reorganization plan.
  12. The lawyers and claimants are incented to agree to a reorganization plan that includes payments to a victims trust fund. After the trust fund is in place and funded, a trustee would review the claims in detail. She would eliminate the ones she thinks are fraudulent, and pay remaining claims by applying criteria she would develop. More severe claims get a bigger payout, etc. If national liquidates and the Guarantee Corporation takes most or all national and council assets, there would be little or nothing left for either national or councils to fund a victims trust. (The council portion
  13. Clarification on Pension Plan Debt All council and national entities participate in the same “pension plan”. If the national bankruptcy “reorganization plan” fails and national liquidates, the pension plan covering council and national employees will immediately terminate by function of law. All available national and local council assets can then be attached by the Pension Benefit Guarantee Corporation to satisfy the pension plan indebtedness. The Guarantee Corporation has first priority, including before victim claimants (and their lawyers). National and every council are “jointly a
  14. We will do our once-a-year contribution that I described, and that is it. If we paid an annual fee that was particularly low (like the $3 one some council charges -- I mean, what is the point of that?), I would make sure it was supplemented with a unit FOS gift to provide a reasonable level of support -- after all, we do need to maintain things at the camp and in basic operations. I just think the old ways of funding the council through multiple asks and inefficient product sales will fade away. Wrap it into a reasonable all-in fee that is transparently explained and be done with all the r
  15. I think council fees are the best way for the future in lieu of FOS and product sales. Please hear me out on this. Our Troop approach is to ask families to pay all-in semester dues (this includes everything except campout and summer camp fees) and contribute to our annual coffee fundraising gathering at whatever level they can. We get family contributions ranging from $20 to $500 at that event, and outsiders contribute as well. Under-resourced families pay 50% dues and 50% camping fees (some get more) and this is supported from our event proceeds. Our December fundraiser raised en
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