MYCVAStory

We'll all have to be careful about the "headlines" when they appear after some sort of deal has been struck. This has a LOT of nuances but the media will take some amount, divide it by 82-85,000 victims and the sum will become the headline "BSA settles with Victims, Each to receive X." It's so much more complex. The funding that goes into any trust will come from not only the BSA/LCs but also COs and INSURERS. The insurers don't seem interested in a global settlement TODAY and won't roll over easily or quickly until they must. A LOT of the TCC's work right now must be wrapped up in the co

And for now, that means the BSA is the responsible party for having/filing a confirmable plan. If it wants out of bankruptcy on the schedule it already communicated then perhaps a plan will be filed in the next day or two.

It's probably pretty safe to assume that to a certain extent "No news is good news." This is the largest bankruptcy related to sexual abuse in history. Factor in CO's, LC's, future claimants, and the largest piece of the equation the insurers and the complexity is great. Every victim had hopes for the parties with financial exposure to be lining up checkbook in hand. That quickly vanished. So now it's a lot of sweating the details and everyone should all be reminded that if it's a BSA-only or BSA and LC-only settlement then the litigation against insurers will continue for potentially a l

The TCC has stated that it fully expects to have a statement included in any packet related to a vote. This is pretty standard bankruptcy procedure. I would assume that it will make its position well known and available for viewing as well. Remember though that in cases of this size victim attorneys often vote on behalf of their clients since they represent them and it's the client's responsibility to cast his/her vote separately or in consultation with the attorney if represented.

I spoke a little too soon. The TCC Town Hall meeting Thursday has been postponed. Given the mediation and court date ongoing/upcoming it's probably safe to assume that there's enough in flux for the TCC to wait until there's something more definite to report.

In case you don't have anything to do Thursday night, a reminder from the TCCBSA.COM website: NOTICE OF VIRTUAL TOWN HALL MEETINGS HOSTED BY THE OFFICIAL COMMITTEE OF BOY SCOUT ABUSE SURVIVORS The next TCC Town Hall will be held on Thursday, June 10, 2021, at 5pm PDT/8pm EDT. Zoom link: https://pszjlaw.zoom.us/j/87519715926 (no registration required) or Join by phone: 888-788-0099, meeting id 875 1971 5926 To be discussed: Status of Boy Scouts disclosure statement Status of negotiations with the Boy Scouts, local councils, chartered organizations, and

FYI, add another State to the list of those that are opening "Windows" for lawsuits to proceed: https://katv.com/news/local/arkansas-law-to-benefit-sexual-abuse-cases-against-boy-scouts-of-america This is why Councils in States where there's no legal path forward for victims at the moment should be fighting hard for a permanent injunction and not play the "it doesn't apply to me so why should I have to pay" game. In discussion for a long time, Louisiana was used as a State where the laws would NEVER change. Well, not so much and now 1,350 BSA claimants, if they are 21-55 have a litigati

I beg you not to think this way. "Mass Tort" cases and especially those involving bankruptcy can take a long time to sort out. That is the case with this one and when you consider that the impacts were often mostly psychological the process of "vetting" claims will be significant and possibly time-consuming. In similar cases like asbestos there were "off ramps" so that people who wanted to resolve this quickly could do so. But, that came at a significantly lower award. Again, that may work for some but to maximize your award these cases take time and often include several rounds of awards

That's basically correct but it doesn't matter. It included the sum of all values on artwork. The artwork, which is made up of Rockwells and a lot of other artists has MAJOR issues. First, any time you dump a lot of an artist on the market you decrease the value because of the increased supply. If you hold it off the market and sell gradually then you incur storage and selling fees. The best solution is to sell it all to one collector. The problem then is that it will be at a significant discount. Oh, and the value of Rockwells, right now as you can imagine they are declining if there's

While it is of great concern to many on this forum, and for obvious yet different reasons, the BSA and LC assets are only one piece of the pie and probably the smallest. The biggest is the insurers. Claimants will have to consider the "whole" pie.

Remember, attorneys hate the courtroom because of the unpredictability. A continuance may only mean "We don't need you right now Judge."

There's an old saying, "Friends are people who hate the same people." How ironic it would be if one of the best things the BSA has done for survivors to this point is try to stonewall both groups representing those survivors and in so doing bring those groups closer and their demands higher due to the new-found unity.

Absolutely not true. As I understand and have full confidence in its validity, The TCC's professionals and State court counsels have been in Chicago, TCC present via Zoom. All have been fully participating along with other mediation parties and will tomorrow as well. Beyond the court date Friday if it occurs the TCC has a regularly scheduled Town Hall meeting next Thursday to update survivors and interested parties. Link will be posted at TCCBSA.COM

Perhaps with the hearing scheduled to resume on Monday, a lot of business pending, and with the Judge imploring the parties to continue negotiating, that this is an opportunity for that to happen via more mediation next week and the hearing continued to a later date. That's a win-win if anything comes out of it and lets the judge avoid an exclusivity decision until the BSA gets one last shot to find some agreements...or not.

Please remember that the "Local Council" data field was one of the most frequently left blank on the proof of claim form. Those not in scouting for long or the abuse happened long ago have found it difficult to recall what Council they were in at the time. As well, the proof of claim form was intended to be a "placeholder" if you will with the expectation being that there would be opportunity and demand for more validating information prior to any award determination. The TCC has said repeatedly that it advocates for a robust validation plan and on that single item it is in full agreement w

FYI, this was already scheduled to continue to next Monday to address everything on the agenda.

"Debated" is certainly correct. But all good debates should rely upon facts. The TCC in its most recent objection below addressed the whole threat of the Pension being taken over by the PBGC and shed some light on its actual state. It also hired its own professionals who focus on pension plan administration in bankruptcies. If victims suspect that the BSA is using its "pension plan" as a place to place assets that should be used to address victim compensation they have good reason to feel that way. See below: vii. The Disclosure Statement Does Not Contain Adequate Information Regar

These are anticipated to be transmitted on Thursday. My understanding is that there was a delay to insure that a process was in place to guarantee that they would be received by local councils.

Which begs the question on the minds of every victim, if an organization was developed today that essentially said "we're doing the best we can but some of you will be raped and abused and scarred for life" would we allow it? Would Congress give it a "charter?" Would we not as a society say "That isn't good enough." This isn't a call to abolish the BSA. Rather, it's a call to do ALL it can for victims NOW and ALL it can to abolish ALL abuse moving forward. If the best guidance available isn't working, and there is evidence that it isn't, then new guidance and EVERY effort, expert, and stu

It isn't the TCC's job to revise the BSA's YPT program, it's the BSA's. The fact that the BSA has offered NOTHING to this point while acknowledging and apologizing for past abuse speaks volumes. Safe to assume this is the TCC's way of saying "DO SOMETHING." That said, the TCC has also stated that the monetary issues are foremost for now and until they are resolved other issues won't be used as bargaining chips needlessly. Only then will YPT and IV Files come to the forefront.

Just a reminder...in an hour: NOTICE OF VIRTUAL TOWN HALL MEETINGS HOSTED BY THE OFFICIAL COMMITTEE OF BOY SCOUT ABUSE SURVIVORS The next TCC Town Hall will be held on Thursday, May 13, 2021, at 5pm PDT/8pm EDT. Zoom link: https://pszjlaw.zoom.us/j/87088314462

The TCC in the meeting last week with the Local Councils (outside of mediation confidentiality) discussed at length how the financial analysis of every Council was individual and intended to allow the Council's credit rating to remain at investment grade AFTER each contributes to the settlement. As the example in the objection shows, this was a VERY deep dive into each Council. There was no baseline for contributions across all Councils. It was independent and done to demonstrate what Councils were able to afford given their significant claim exposure.

I have a hunch the TCC's objection will focus upon the issues of greatest import to the court. Perhaps the TCC will address the BSA's contention that the pension plan needs funding or the PBGC will step in? What about on the other hand if the pension fund is actually in good shape or even over-funded? Also, the formal mediation in New York was last week and not this week.

Just a reminder, the TCC's objection to the BSA's disclosure statement is Monday. This is the TCC's opportunity to take issue with specific items the BSA has raised as serious concerns such as its pension plan obligations. Should be interesting reading after the weekend.

In reply to questions, regarding yesterday's Zoom call where all the LCs were invited, the following is "public" information because it was discussed during the presentation and not part of any mediation confidentiality: 1) Which councils sat in and who from the council was there? There is a giant bit of difference between the professional Scout Exec sitting in and, say, the volunteer Council President or General Counsel, for example. Good question. Those involved with scouting should ask their Council Exec. The attendance was huge. 2) While I believe they went through "in gre