MYCVAStory

Re the questionnaire being available... 1. FOUR months to submit, and not six. Attorneys with thousands of clients scrambling. 2. Check this interview from today's TODAY Show: https://www.today.com/video/former-boy-scouts-can-now-file-claims-in-sex-abuse-settlement-191094341570 If I were the Trustee I would NOT be telling Survivors that they will receive EXACTLY what was spelled out in the claims matrix. Regardless of ONE expert's opinion on this, and that opinion changed significantly during this process, my response would have been" "I am committed to seeing that Survivors

The Dumas and Vaughan attorneys, representing 69 clients, have filed for a Stay with the third district court of appeals. Unsurprisingly, Purdue and its issues, most notably third-party releases, was cited as cause. The requested Stay would of course pause things until the Supreme Court rules by next June. What a pause means though is not known right now and would be litigated. It could mean a pause on awards or a pause on all Trust activity, or somewhere in-between. Briefs objecting to the Stay motion will be due in October from Plan Supporters. One interesting issue is the requirement

Just reminded me.....Judge Silverstein still hasn't ruled on the Coalition's "Substantial Contribution" request for reimbursement by the BSA.

I understand that the third was from the "Tiger King" production crew but Covid hit and it didn't move forward. At least for now. I have a hunch the Netflix project was completed mid-bankruptcy so perhaps that's a story waiting to be told, someday.

So not having seen it you've formed an opinion huh? Sorry, but I fall into the camp of "Let's see what it has to say" before I form any sort of opinion. If it moves the needle at all to prevent what happened from re-occuring then good. As Santayana said "Those who cannot remember the past are condemned to repeat it." The fullest understanding of what happened and why will be the best way to step toward preventing its being repeated. I don't think you're black-hearted. I just hope ALL of us will do our best to watch with an open mind and consider its values and faults. Too much was secre

Not as much as you think. While the BSA plan has gone effective it is still under appeal. So, it is reversible. One of the reasons the Trust is moving quickly is because sometimes a Court of Appeals will effectively say "The egg has been scrambled so any ruling we make shouldn't undo what has been done. In this case, the Court of Appeals is expected to NOT rule since it knows that the Supreme Court is addressing a key portion of the BSA plan, the third-party releases. I agree but remember that the settling insurers are NOT required to make a large portion of their payments until AL

You point out well the problem with addressing mass torts through bankruptcy. It reduces every individual to one "class" and sacrifices individual rights for collective agreements. That's what the Supreme Court has to decide since to this point different circuits have ruled differently. It's a shame that the issue wasn't long resolved before now.

I appreciate the compliment. I'll take them when I can get them! Been on the phone today with legal people far smarter than I am. The consensus....if the Supreme Court thought Third-Party releases were such a good idea then it wouldn't have taken up the case. Not good for the BSA's plan. Also, this is not a "Sackler-Specific" issue. It's all about interpretation of the bankruptcy code regardless of whether a wealthy family is involved. Had it not been the Sacklers it could have been the BSA's case to push this to the Supreme Court. It's been brewing a long time. The only way this goes

Well, if anyone was looking for a sign that this would be moving along a little quicker, you didn't get it today. What this means is that the Supreme Court will hear the Purdue arguments in December. Then, they will probably rule by the end of June when they go on recess. Lately they've issued a lot of decisions at the very end of the term. Purdue is in the Second Circuit and the BSA Bankruptcy is in the Third Circuit. BUT, the third circuit will most likely wait for a Supreme Court ruling on this so that it has guidance. This guidance has been long overdue since different Circuits/Distr

That's correct but..... The Trust is "effective" and operational but can only distribute the funds it has "in the bank" once awards are determined. Making that even more tricky is that without full payments from the settling insurers and others the Trust must also "hold back" funds in a safe manner to ensure that it doesn't run out of money. The TDP makes clear that awards will be determined on a "First in First Out" basis but that does NOT mean that Survivors who get their information submitted first will get some sort of full payment and deplete available funds for those who submit later.

Hartford and Century have made partial payment. Approximately 150 mil total if memory serves. It's in the confirmed plan. Optimistic assessment: Yes, the remainder must be paid after appeals but at least the Trust is funded to a level that allows it to start its work. Pessimistic assessment: Yes, let's hope that the plan isn't overturned on appeal at the same time the Trustee and Trust professionals burn through the initial contributions and become the only recipients of Trust money!.

I just wanted to say happy father's day to all the Survivors who tried and have tried their best, for so long, to be the best father they could be. The secrets you kept to protect the partners in your life you cared about, how hard you tried to protect your own children, and the hard work to not let anyone know what you were battling are all the stuff to be proud of even when you feel like you could have done more. Chin up.

To the best of my knowledge the scaling factors will be modified to the "current" State of the SOL landscape. That's also why there's a 12-month holding period for Survivors who anticipate changes for their State. Just my guess. But, a couple other points: 1. The Trust has a LOT of explaining to do regarding processes. The Judge has said she's going to answer questions. We'll see if she knows what that means. A claims processing company will be retained. It will get a lot of questions. For now we all have questions and the questionnaire is in development. THEN, there will be six

Agreed. The reality is right now anyone covering this, and the BSA as well, have only the BSA's "expert" Dr. Bates and his report to point to. The reality will only be known when checks start hitting mailboxes. Even then, that will only be part of the story. There are still non-settling insurers and the LDS to factor in. So, that 100% comment we see will be replaced by reality. And if the Bates prediction isn't correct? Well, I'm looking forward to his explaining that because there will be eyes on this for a very long time and I suspect the story of this bankruptcy and its effect on Sur

The Trust may now engage in settlement discussions AND litigation against the non-settlers. There are years when Survivors have claims, and the covering insurers didn't settle, that the Trust will now allow to "go to court." There's a formula in the settlement agreement discussing how that works if there is a positive outcome. But, the Trust still acts as a gatekeeper so the best examples of "slam dunk" cases will move forward. The STAC has a hand in that determination. The strategy is that a handful of verdicts against an insurer will be good motivation for it to settle and stop the blee

Sorry....yes, plan may now go effective. Fat fingers.

Circuit has denied stay. Plan may now go effective!

Hearing Info for Wednesday, Docket 1113. Hearing essentially addresses substantial claim request for the Coalition and the effort to provide "startup" funds for the Trust. The startup funds would help demonstrate to the Circuit that work is underway. Interestingly, the BSA now is not a "movant." Disappointing but perhaps an attempt by the debtor not to seem too presumptuous to the Circuit. Fingers crossed Silverstein allows it. After years of waiting ANY effort to get some work done in a more timely manner would be a nice change. NOTICE OF AGENDA OF MATTERS SCHEDULED FOR HEAR

That website assumed ALL claims were credible and would be pursued. That article is the opinion of one attorney who from my observations has little to nothing to do with this bankruptcy. It reads at best like someone who scanned the DC opinion and just rehashed it. Ultimately, payments will come down to two things, the numerator and denominator. We know part of the numerator now, 2.6B. Additional monies will come through insurance settlements and litigation against non-settling insurers. The denominator will be determined by how many Survivors complete the questionnaire and have credible

The District Court's stay denial included more than the usual statement. It provides a bit of a roadmap and reasoning for the Circuit to say "makes sense to us" and deny a permanent stay pending appeal. When I asked a legal type how long it could take before the Circuit says something next the guess was 2-4 weeks. Not bad in the grand scheme of how long this has taken. Fingers still crossed.

Well said. There was also an automatic 14-day period after DC approval in the order so that takes it to the 12th. Yes, the plan going "effective" is contingent on four things as written into the plan: 1. Bankruptcy Court approvel (done), 2. District Court Approval (Done)., 3. No stays in place and 4. No motions to appeal in place. So, we are waiting for a stay decision at the DC and if that fails then the Circuit can take up a stay while the motion to appeal is in place. The hope for Survivors needs to be that the DC in the next day or two denies the stay. Then, the Circuit Court grants

During the Town Hall last night the Coalition's attorney David Molton all but said that the District Court would NOT issue the stay. This prediction came about because the District requested supporter briefs very quickly, and objector replies the next day. In other words, the District just ruled and there were few cracks in the plan to expand an objection so why belabor the issue. "Get me your paperwork and I'll keep the "Denied" stamp inked up." This will then continue the rush to get enough into place so the Trust can go effective. Lots and lots of discussion of the steps/stages of all

No, and this is supposed to be discussed at the Town Hall tonight. The Effective Date is when Judge Silverstein rules that everything is in place and the Trust may do its work completely. It's a "legal ruling." and what the objectors are trying to stop right now. BSA is trying to get the Effective Date work done by 4/12 according to one attorney's email. Fun fact....if a Trust goes effective and THEN a higher court rules that some portion of bankruptcy law should be interpreted a different way it does NOT impact the existing Trust. You can't "unscramble" the egg. So....everything right n

Page 166: H. Claim Determination Deferral. For a period of up to twelve (12) months from the Effective Date, and by an election exercised at the time of the Trust Claim Submission, Direct Abuse Claimants whose Direct Abuse Claims may be substantially reduced by the Scaling Factor described below in Article VIII.E.(iii) (statute of limitations defense) may elect to defer the determination of their Proposed Allowed Claim Amounts to see if statute of limitations revival legislation occurs, provided, however, that this claim determination deferral window shall close for all Direct Abuse Claim

Interesting. www.bsarestructering.org goes to a "site not found" message for me. Regardless, neither are very accurate! 🙂