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Chapter 11 announced

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8 hours ago, Sentinel947 said:

Why are they filing? 

Retirement/pension

Edited by CynicalScouter

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Judge Silverstein signed order authorizing the Tort Claimants Committee (TCC) to employ  and retain real estate advisor Keen Summit Capital Patrners

2.The Tort Claimants’ Committee is hereby authorized to retain and employ Keen as its real estate advisor, pursuant to sections 328(a) and 1103(a) of the Bankruptcy Code, Bankruptcy Rule 2014, and Local Rule 2014-1, effective as of October 9, 2020 for the purpose of evaluating the eleven properties listed on Schedule A of Keen’s engagement letter. If the Tort Claimants’ Committee determines to retain Keen to provide any additional services, Keen shall file an amendment to the Application that will be subject to notice and opportunity for hearing, and nothing in this Order and the record relating to the Court’s consideration of the Application

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/858520_1589.pdf

The eleven properties

image.png.f10708ab68a7ffc9ebe694c8aa1c3ecb.png

Page 28 of 96,  Keen's engagement letter

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/854608_1477.pdf

Edited by RememberSchiff
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23 minutes ago, InquisitiveScouter said:

Can't imagine how much Camp Pouch on Staten Island is worth....

Looks to be 140 acres and was possibly on the block in 2010.  At that time The Boy Scouts hoped that a conservation organization like the Trust for Public Land would buy the development rights to most of the 140-acre property. The sale would provide an infusion of as much as $30 million to the Boy Scouts

https://www.nytimes.com/2010/01/24/nyregion/24scout.html

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Is there anyone on this board that has any any insight as to how or why the NY council was able to not sell?

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6 hours ago, T2Eagle said:

Is there anyone on this board that has any any insight as to how or why the NY council was able to not sell?

I do not have any insider information, but many councils in NY whose camps were struggling financially sold an easement to the State which provided a significant influx of cash in exchange for (limited) public access. A quick search shows the state does hold a public easement on the Pouch property, but I did not look to see when it was acquired.

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UM (United Methodist Church) News 10/29/2020:  Churches urged to file legal document in Boy Scouts lawsuit

The General Council on Finance and Administration sent notice Oct. 21 to conference chancellors, treasurers and bishops, urging them to organize any local churches that have chartered Scout programs, even if the programs aren’t currently active, to file a “proof of claim” by 5 p.m. U.S. Eastern time on Nov. 16. 

Currently, more than 3,000 United Methodist churches charter more than 9,000 Scouting units serving over 300,000 youth, according to United Methodist Men, which oversees the denomination’s Scouting ministries.

Though conferences are organizing the process, they cannot file on churches’ behalf. Churches should reach out to their conference office if they’ve not yet been notified.

...

When a local church signs a charter agreement to sponsor a Scout program, the church is effectively responsible for conducting the program in its entirety, including the selection and screening of adult volunteers. That agreement could create liability in a sexual abuse claim.

The Boy Scouts’ bankruptcy could not only eliminate its debts, but also potentially extinguish liabilities related to future claims. Though indemnification clauses in the charter agreements historically protected churches from liability, bankruptcy could leave those charters vulnerable.

The original plan submitted to the bankruptcy court by the Boy Scouts includes protection for charter organizations. The judge sent the proposed plan to third-party arbitrators, who may decide against accepting the entire proposal, making any charter organization a possible target for litigation.  

The Council on Finance and Administration’s recommendation to file a proof of claim is a preventative measure that could ensure churches have continued access to the insurance coverage the Boy Scouts provides.

 

“We’re protected now but the fear is the arbitrators might decide to separate the charters and go after churches as well,” said Gilbert C. Hanke, top executive of the Commission on United Methodist Men

...

Churches are being cautioned not to simply suspend their Scouting programs, thinking doing so will protect them from liability. Since the deadline for filing abuse claims against the Boy Scouts is also Nov. 16, ending a scouting charter would not absolve a church of any claims made prior to that date.

“It may not matter if you think your church has nothing to do with a BSA unit other than allowing them to use space for meetings. … If your church had been a Charter Organization going back over 50 years ago, your local church may still be fully responsible for damages arising out of a sexual molestation that far back,” Greater New Jersey Conference chancellor Sandy Brown explained in
a statement to local churches

 

More details at source:

https://www.umnews.org/en/news/churches-urged-to-file-legal-document-in-boy-scouts-lawsuit

Edited by RememberSchiff

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16 minutes ago, RememberSchiff said:

Similar notice from Presbytery of Baltimore

https://baltimorepresbytery.org/boy-scout-bankruptcy-protection/

Which is based on a notice from Presbyterian Church (U.S.A.) https://baltimorepresbytery.org/wp-content/uploads/QAforBoyScoutsBankruptcy.pdf

Methodists. Presbyterians. I would imagine that many Catholic Dioceses/Parishes will file next. That would leave LDS and the Lutherans in terms of major religious organizations.

After that, VFW?

The CO claimants alone could go into the thousands.

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1 hour ago, CynicalScouter said:

Methodists. Presbyterians. I would imagine that many Catholic Dioceses/Parishes will file next. That would leave LDS and the Lutherans in terms of major religious organizations.

Don't forget the Baptists.  We are major in the South. 😁

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9 minutes ago, tnmule20 said:

Don't forget the Baptists.  We are major in the South.

True, my bad.

Edited by CynicalScouter

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1 hour ago, CynicalScouter said:

Which is based on a notice from Presbyterian Church (U.S.A.) https://baltimorepresbytery.org/wp-content/uploads/QAforBoyScoutsBankruptcy.pdf

Methodists. Presbyterians. I would imagine that many Catholic Dioceses/Parishes will file next. That would leave LDS and the Lutherans in terms of major religious organizations.

After that, VFW?

The CO claimants alone could go into the thousands.

When do they add almost every school district to the legal claim?  BSA recruited in schools.  10,000+ charters were schools.

Edited by fred8033

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13 minutes ago, fred8033 said:

When do they add almost every school district to the legal claim?  BSA recruited in schools.  10,000+ charters were schools.

This is about the COs adding themselves, not the COs being forced in (yet).

And schools are in a different legal position and are "insured" by the locality/state.

If the plaintiffs don't get the $1.5 billion (I am now seeing reports of $3 billion on the table) then after they tear National and its insurance companies apart, then Council and its Insurance companies apart, they'll come for the COs next.

Edited by CynicalScouter

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1 minute ago, CynicalScouter said:

... are "insured" by the locality/state.

deeper pockets.  :)

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