MYCVAStory

I think this is the specific link: https://www.bsarestructuring.org/estimated-potential-payment-calculator/ BUT.....BUT.....this does NOT take into account any scaling factors that would increase or decrease awards and assumes that all claims can be funded at 100%. It's merely a simplified way to look at the matrix and apply it to open and closed States. I fear that this calculator and others that law firms have posted are setting expectations that are best guesses or worse, at best. The only way to truly get an idea of a claim "value" is to do a deep dive into Article VII (I believe),

Just saw this Town Hall notice on the TCC website. Interesting, the TCC and Coalition doing it together. Some day this is going to make for a really boring book or a drama-filled miniseries. TOWN HALL: The Official Committee of Tort Claimants’ and the Coalition of Abused Scouts for Justice will hold a Town Hall Meeting on April 4, 2023 at 8:00 p.m. (ET). Zoom: https://pszjlaw.zoom.us/j/85281284960 (no registration required) One-Tap Mobile: +16694449171,,85281284960# Dial-In by Telephone: 1-888-788-009 (toll-free), Webinar ID: 852 8128 4960. If asked for a “Participa

The plan calls for a "first in, first out" FIFO process. BUT, that won't impact the amount of your award or how much you get. The Trust will start processing claims and making some portion of award with an eye to making sure enough is available over time. At the same time they'll be negotiating/suing non-settling insurers for additional monies. Survivors can expect multiple distributions of checks as monies are available. Take a look at the Madoff Bankruptcy. While extreme, that Trust is up to its 14th distribution to some creditors: https://www.madofftrustee.com/distributions-16.html

It's going to be fascinating to see how this shakes out. A lot of focus, and rightfully so, is on the numerator; how much money is needed NOW. Well, the other side of this is the denominator; the number of Survivors that complete the questionnaire to get an award and the number that are credible. Some number less than 82,500 will be the denominator. How many have given up or won't go to the hassle of completing the questionnaire? How many will provide a convincing argument to support their claim? What will appropriate support be in the eyes of the Trust? Surely this will be more than li

There will be significant work on a questionnaire to allow for claim processing and award designation. This will include input from the STAC and experts in mass tort claims as well as experts in assessing sexual abuse. The claim form was a first step. The next step will be to "get in line." Even the $3500 payment will require some degree of review to make sure there's enough credibility. There's a whole group of people out there who try to jump on every class action process just to see if no one's checking too closely. The $3500 requirement won't be extensive but it'll also require/remin

As another said, it depends on "wrap-up." The immediate concern for Survivors and the BSA is getting the plan to the point where it "goes effective." Then, the BSA follows the plan monetary and non-monetary agreements, Trust moves ahead, entities start paying the money they owe, and legal action against non-settling insurers may commence. So the plan becoming effective can happen in a couple months, maybe less, but a LOT has to do with what the objectors do to prevent that. Full wrap-up, as in when the money is all gone and Trust dissolved.....well, remember that there will still be a "fu

Mods.....Might be the right time to start a new topic such as "Post-District Court Affirmation" or similar?

Another question is how long until the plan goes effective and what needs to happen before then. A bankruptcy pro I spoke to today dumbed it down for me in a way I understood. This is a lot like closing on your house. You agree on a deal but now there's the sausage-making. You need an appraisal, insurance, termite inspection, flood certification, mortgage approval, title search....and set a closing date for a month or two down the road hoping you can get it all done by then. That's where we are. The Trustee needs to have in place all the infrastructure to start this "not-so-small busines

History fans are going to have a field day with this bankruptcy in hindsight. In the case of the TCC estimate, it was both early on in the bankruptcy and included expectations for all insurers and SOL relief. It should have been as high as possible at that point. Should it be higher now? Sure, but time will tell what percentage claims will be paid in the end. As well, it's important not to cherry-pick statements as the objectors did. The TCC didn't provide any expert testimony/evidence related to valuation at the plan confirmation hearing for one simple reason, the BSA, which the TCC and

And the answer to what happens next.... Fist let's see how long it takes the insurers to file a stay.

It's really anyone's guess. The judge at the end of the hearing did acknowledge that he knew people were really waiting for a decision so that's a good thing. Some have suggested that he might want to wait for other decisions but that isn't normal behavior for District Court Judges in this situation. So....while no one in Wilmington expected the wait to be Silverstein-lengthy it's still hurry up and wait. It'll be six weeks on Thursday.

If you had "Positive Covid Test" in the pool for the next reason why things will be delayed, you won. Thursday's hearing has been postponed until April, the 19th I think, because Judge Silverstein has Covid. In all fairness, this is unrelated to the wait for the District Court decision but related to the Coalition's Substantial Contribution claim hearing in the morning and the hearing in the afternoon to get the Trust "seed funding" so some operations can start. Another month....

To be determined. There is a part of our population that will "sign up" for any mass claim action. It's sad: https://topclassactions.com/ Anyway, what the Trust will do to address this is TBD but at some point it has to decide how long it'll work on each $3500 before it isn't cost effective.

The claim form was only to make a claim and allowed the debtor to get a better picture of where the abuse occurred, severity, etc. In mass tort bankruptcy Trusts there will be a questionnaire that will ask for a ton more detail, any medical records, evidence, etc. The trust will need to hire professionals with experience in developing this form for sexual assault, then retain professionals to process all of them and wade through the materials.... It's going to be difficult for many Survivors but the closest comparison would be the discovery phase of a trial. Hopefully the Trust will commun

Just to be clear, the only thing being proposed to the court is the start of the "administrative side" of the Trust. This is so that Judge Houser can start working (she has already accrued hours) and start to put in place the professionals that will provide the infrastructure for claims management, questionnaire construction, money management, independent review and all the rest. There will still be significant delays but at least if the plan and Trust go active at some point then some legwork will have given it a bit of a head start.

Clif notes..... BSA is trying to start scrambling the egg so that the certain insurers and other objectors can say "Look court/judge, this is up and operating and the prep is underway so that awards can be made when the Trust is funded. Can't unscramble the egg now" That's important pressure and VERY good news for Survivors because if this doesn't get dragged out the time-to-awards will be shortened compared to everything administrative waiting for a start when all appeals have run out. Interesting.....motion is for BSA to contribute 1 million dollars and TCC's attorneys PSZJ to contri

There's a lot to be said about that approach. When so much is unpredictable it's good to avoid surprise and sometimes it works as well to expect the worst and be pleased when that doesn't happen! Hang in there.

RE the BSA going Chapter 7, that's HIGHLY unlikely under the relative progress of the current plan. The "heavy lifting", as in lawyers and professionals working and running up bills, has been done to a large extent. Continued drain will be painful but not unsustainable for the period of time while this works its way through the courts. IF, the plan is completely tossed out it's going to be tough for the BSA to start over but the big issue is the importance of the third-party releases as they relate to the over 1,000 charter orgs. The LC's have said, and said in District Court, that CO rele

The substantial contribution hearing to address the Coalition, Pfau/Zalkin and Catholic requests to have their bills paid by the BSA has been rescheduled to 3/23: Docket Text: Notice of Hearing /Re-Notice of Motion of the Coalition of Abused Scouts for Justice for Entry of an Order Approving the Debtors' Proposed Payment of the Coalition Restructuring Expenses (related document(s)[10808]) Filed by Coalition of Abused Scouts for Justice. Hearing scheduled for 3/23/2023 at 10:00 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #2, Wilmington, Delaware. Objections due by 1/12/

Agreed 100%. But, Survivors still need to be thinking in year(s) unfortunately. For some that means their Estates will receive awards instead of them. That's tragedy heaped upon tragedy and yet another reason why Bankruptcy court is the WORST place for so many Survivors. There will be reason for some optimism at some point but history will not judge this whole episode as a good one for Survivors.

The District court decision could be stayed by the court if the insurers fight for the stay, and they probably would get it based upon precedence, so it could go to Circuit court review. A wait for Circuit Court could be....a year if that's what it wants or it knows an issue will come up in the Supreme Court in the meantime. The Trust could be funded but only for "startup" costs so that key personnel can start work on procedures in anticipation of real funding. Expect that to occur so that the Trust can say to the Court "Look, we're all ready to go and the Trust is working as designed." I'

Friday afternoon at District Court.... This was the Guam Show with Lujan chasing a number of issues. It was painful to watch at times as one thing after another was thrown against the all to see if anything stuck. The gist of the objecting argument was that Guam's Survivors deserved different treatment than the plan allowed based on a series of factors both unique and not so. The arguments really highlighted the fact that in bankruptcy claimants, like Survivors, become a "class" and lose individual treatment that was enjoyed pre-bankruptcy. As well, the Judge also highlighted his role

Couple things..... Consensus is that Third Party Releases in Districts that allow them won't be negatively impacted until the Supreme Court weighs in. Districts and Circuits like to follow their own precedent until instructed otherwise. Sorry, to say, if the plan gets District Approval then look for the certain insurers to move for a stay, quickly, while this waits for Circuit appeal. The plan could still be funded with a few million but this would only allow the Trustee to start some infrastructure and prepare for the significant funding someday. That's a good thing until there's

District Court this morning..... This was the main event. Focus was on subject matter jurisdiction and third-party releases. Luria, Anker, and Mason on one side, Lujan and Dumas on the other. For every point made by one side there was a counter-point. Like yesterday the Judge seemed to have a very good grasp on the issues and a lot of focus was not on whether this was the best plan (that was for Judge Silverstein to be more concerned with) but whether it conformed to the law. The proponents were well prepared and while the objectors less so they did a good job making their points whe

Just a little stage-setting. What it looks like in the District Court: Actually looks like a TV courtroom. Lots of wood and portraits of judges. Half-dozen attorneys sit up front from each side. Each side's attorneys get a prescribed amount of time and the judge interrupts a lot. Then both sides stand and there's a bit of a lightning round. Afternoon was 150 minutes. Audience looks like a middle-aged white men in dark suits convention. Probably 100 attorneys and there's an overflow room somewhere in the building watching it on TV. You get to use your phone and laptop in the audie