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Chapter 11 Announced - Part 6 - Plan 5.0/TCC Plan TBD


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This is Doug Kennedy, a member of the TCC.  First, I want to thank all of you for your comments over the past 18 months.  Your comments and those in other forums, whether I disagree with them or not,

A few months ago, one of the posters here offered some great advice I thought.  Type what you intend  to say. Set it aside for a few minutes and look at it again before you press "post". Does it

Normally I wouldn't discuss user issues, but given his profile pic and signature I'm going to make an exception: Regardless of the impression given by his profile picture and signature line, Cyni

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3 hours ago, 100thEagleScout said:

Zuckerman Spaeder

I know this firm well. Great people and excellent attorneys. You’re in very good hands. If I need representation in this mess, they would be a firm I would contact. I don’t know their history in this area of the law (CSA), but they are known for quick ramp up time and mastery. 

Edited by ThenNow
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What is the deal with AVA?  They aren’t talking to the media, I haven’t seen them in court speaking, they have nothing on their website about scouts that is recent (but it looks like they are still recruiting clients) and it sounds like their current clients haven’t heard from them.   I believe they are 1/3 of AIS so a bit surprised.   

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Thank you for the welcomes. If this has been discussed previously, I apologize. Any speculative thoughts on why one debtor, LDS, is able to earmark their payment when others have not been able to do so?  As an example, why wasn’t the same logic applied to, say a local council that shows a contribution of 2 million with a low number of claims and in an open state. These claimants could possibly receive close to the valuation of their individual case. Under the current plan NOBODY receives near the valuation of their case but if a different methodology was applied, some would. Additionally, the Local Council would be paying damages to the individual scouts under their care that they allowed to be harmed.

Edited by DJ72
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You're right that nobody will get what they might and here's my explanation.

Because it's a bankruptcy nobody is going to receive what they would if they're one of the first to go to court. There isn't enough money to cover that many cases.

The argument now is what that total pot of money is. What hasn't been discussed is how it's going to be divided based on whether a state is open, closed or somewhere between. There are hints (different levels of grey) but the numbers are TBD.

I think it's a tough ethical decision but ethics has little to do with bankruptcy.

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2 hours ago, DJ72 said:

As an example, why wasn’t the same logic applied to, say a local council that shows a contribution of 2 million with a low number of claims and in an open state. These claimants could possibly receive close to the valuation of their individual case. Under the current plan NOBODY receives near the valuation of their case but if a different methodology was applied, some would. Additionally, the Local Council would be paying damages to the individual scouts under their care that they allowed to be harmed.

I have no thoughts on the logic, but I do know the TCC is not pleased with the methodology being applied to the LDS contribution. One of the survivor to survivor wickets of the sticky variety that comes up in your scenario is taking some of us and further “pitting” us against the others of us. This is what I mean.

Let’s say one man has an open state Tier One abuse claim with maxed out Scaling Factors. But, his LC (and let’s say CO) have tiny money. That will hurt to watch a lower tier fellow in an open state with big money get a more. Yes? Logical? Maybe. Ethical and painful? Maybe not, but definitely yes. There are all manner of permutations to this, going beyond the nagging feeling of being “cheated” based solely upon the geography of one’s abuse. One of the things I didn’t want to see going into this is the setting of one man against the other. SoLs already do this. These more complex variations would create even deeper lines of demarcation. Dunno. Just my feelings. I recognize those potentially illogical emotions sit idly by at the negotiation table, nearly irrelevant in light of the unpleasant realities of a black and white bankruptcy process. I ramble. Nothing new. At least I resisted veering into dark humor or contorted metaphor. Or so I hope. 

17 minutes ago, MattR said:

The argument now is what that total pot of money is.

 

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17 hours ago, 100thEagleScout said:

I don’t see how ER can continue to “represent” me when there’s obviously a conflict of interest now in their firm representing me.

Agreed. To my thinking, any attorneys recommending a "yes" vote are not being honest with themselves about the most likely outcomes and are no advising their clients appropriately. Glad to hear you are getting good representation!

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Reminder for tonight....guest on the TCC Town Hall.  It's nice of the TCC to remind us all that this is about more than money.  It's also a REORGANIZATION to ensure the safety of our nation's youth:

The next Town Hall of the Official Committee of Tort Claimants' (the “TCC”) in the Boy Scouts of America bankruptcy cases will be held on Thursday, October 28, 2021, 8 pm (Eastern)

Michael Johnson, former Director of Youth Protection for the BSA, will join the October 28th Town Hall to discuss Youth Protection and the deficiencies of the current plan.

Zoom link: https://pszjlaw.zoom.us/j/82272826295 (no registration required) 

or by phone: 888-788-0099 (toll free), Webinar ID: 822 7282 6295

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49 minutes ago, ThenNow said:

One of the things I didn’t want to see going into this is the setting of one man against the other.

Thanks for sharing this, it seems like a laudable goal in all of the craziness that comes from a bankruptcy proceeding. Maybe this is also an insight into the TCC's approach and why they don't agree with the LDS terms.

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5 hours ago, ThenNow said:

One of the things I didn’t want to see going into this is the setting of one man against the other. SoLs already do this

Agree, SoLs are the soul sucker of this whole proposal, but unfortunately SoLs will be in the next proposal as well even if the TCC is right and a bigger pot of money emerges if/when this current proposal is voted down.  Under the current proposal, the only ones gaining satisfaction are the BSA and all entities released of further liability and the tort lawyers.  ALL survivors LOSE and the damages are woefully inadequate and their is not set aside for any counseling.   As for the LDS provision, I agree, it is along the same lines of the SoL, a great divider.  If it is allowed to stay, then it is only correct to allow the same for other LCs or COs so at least some are compensated closer to the calucualed value of their individual case.  If that is not the case, the the LDS provision should be striken from the proposal. JMO

 

 

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