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Chapter 11 Announced - Part 4 Revised Plan


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1 minute ago, johnsch322 said:

I would say 12 to 18 months for money from BSA and LC’s and 3 to 4 years for insurance money. They will be fighting and delaying at every turn. 

I'm with you totally.  Going to start eating better so I live to see it.

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@CynicalScouter Thanks from me and frankly, surely everyone, for tracking on the status of National's bankruptcy pleadings, and the procedural steps, past and pending, in the Bankruptcy case. And your

Okay. Enough. If you aren't talking about court proceedings then drop it.  It would be a shame to lock this thread now.

A few random observations from watching this bankruptcy unfold over the past several months: The focus has clearly been on protecting the national organization first and then the local councils.

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18 minutes ago, Eagle1970 said:

Going to start eating better so I live to see it.

One of the first things I asked when I started this process was regarding rights of succession.

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1 minute ago, ThenNow said:

One of the first things I asked when I started this process was regarding rights of succession.

I have a younger wife.  She will be glad to have it if I'm not around.  We never thought there would be any recourse, because of SoL.  She recently reminded me that I have been telling her about the abuse since we were first together.  

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21 minutes ago, Eagle1970 said:

She recently reminded me that I have been telling her about the abuse since we were first together.  

We’ve been married for coming up on 37 years and she’s heard very little about. She knew it happened and that it severely impacted me (and our lives), but that’s about it. No way I’m letting her read my POC. She doesn’t need a long shuffle through that not so little shop of horrors.

Add: I didn’t intend to imply I don’t admire and respect your ability to share it with her. Quite the opposite. 

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Too pessimistic. Folks may see an initial distribution in 2020 early 21. Once the carriers see that they can no longer hold BSA hostage, perspectives will change — quickly. My gut tells me carriers will begin to get serious soon. 
 

Think of it as an annuity. Every year another check. 

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1 minute ago, Muttsy said:

Too pessimistic. Folks may see an initial distribution in 2020 early 21. Once the carriers see that they can no longer hold BSA hostage, perspectives will change — quickly. My gut tells me carriers will begin to get serious soon. 
 

Think of it as an annuity. Every year another check. 

Muttsy I hate to be the one to tell you but we are already in 2021 and half of it is gone. But I get what you are implying. 

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1 minute ago, Muttsy said:

Think of it as an annuity. Every year another check. 

Like the birthday one I’ve been getting from my great aunt Millie every year since first grade? Sweet, crisp fin. Two weeks prior. Clockwork. 

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I'm just curious, but from the victims in this, what helps? Does talking to other victims here help? Many pages ago someone mentioned a memorial. I've seen enough memorials and people crying at them to know they have power. A memorial sounds like a good idea to me. Has anyone raised that idea with the TCC?

I had a scout make a walking meditation path as a memorial for his younger brother who died in an accident. He built it at a hospice. Anyway, it was one of the most impressive projects I'd ever seen. This scout was fairly screwy but he knew what he was going to do for this project when he was 11 or 12. It just took until he was 17 to get done with all the other requirements.

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9 hours ago, ThenNow said:

Separate question. I’ve asked it before, but the ensuing melee on other topics swallowed it up. Will the BSA continue to reimburse for counseling? I’m thinkin a bunch of us are going to need a bunch more for a bunch of years after this wraps.

Question (seriously) ... How would BSA continue to re-imburse for counseling?  What I mean is bankruptcy is the clearing of previous debts.  BSA will be a new company.  ... IF BSA starts / continues to pay for previous wrongs, then those payments put the bankruptcy in quesiton and opening the question for others that did not get full restitution. 

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4 hours ago, Bronco1821 said:

So I hope I am understanding this complex case....

Ballpark timing...

2 months to vote and approve BSA deal

After that, about 6 months to deal with insurance companies and any Chartered Organizations.

Then the court appointed trustee will review each case and determine compensation...that could take a really long time...

so we are 12 - 18 months away from any conclusion?  Is that possible?

I'm betting we are at least 18 months out before anyone sees a check.  

I'd question whether the settlement trust can start being dispersed or if it is on-hold pending further litigation with insurance companies.  Or will individuals see one smaller check for BSA settlement.  Then potentially another check for insurance companies.  

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3 hours ago, Eagle1970 said:

I am reluctant to post it.  But, it is the Catholic self-insurance, as the parish sponsored my troop.

It will be interesting to see if any of the COs can use previous abuse settlements as shields for repeated liability or effectively class action status.  

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