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


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57 minutes ago, Eagle1993 said:

That is a high hurdle.  That means every non vote is essentially a no vote.  So, with 84,000 voters, they need 55,440 yes votes.  I think if the judge forces this through it will be very risky.   The TCC and many law firms are on the other side plus 12,000+ of that 55,000 are questionable (many may listen to Kosnoff).  What a mess.

Right, so for example,

82,500 claims

25% sit out that leaves you with 61,875.

61,875*.33=20418

That's why I said Kosnoff/AIS can never alone achieve a "yes" for anything, but they can persuade enough of their clients to a) vote and b) vote no then they can veto anything.

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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,

Scouter.com is not well liked by National and believe me, while we are all scouters, we have various opinions of BSA.  I think if BSA fails, we will help build up a new scouting organization. If you w

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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Reading these filings, it really looks like the claim is:

  • National BSA is running out of time.  If they don't have a plan approved with a vote soon, they will likely liquidate.  
  • If they liquidate, the pension board will take most of their money, leaving little to claimants.
  • Claimants will have to pursue LCs & COs in state court and they will start declaring bankruptcy

 

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35 minutes ago, Eagle1993 said:

National BSA is running out of time.  If they don't have a plan approved with a vote soon, they will likely liquidate.  

From the Ad Hoc Committee brief “Meanwhile, the precipitous professional fees in these cases will continue to mount, and the estate’s assets will continue to be depleted. If these costs persist, the Debtors will likely have to liquidate before any chapter 11 plan process can be completed.”

Translated: BSA’s continuous stalling and delaying tactics should be rewarded with a sweetheart settlement deal for LCs and COs.

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36 minutes ago, Eagle1993 said:

Reading these filings, it really looks like the claim is:

  • National BSA is running out of time.  If they don't have a plan approved with a vote soon, they will likely liquidate.  
  • If they liquidate, the pension board will take most of their money, leaving little to claimants.
  • Claimants will have to pursue LCs & COs in state court and they will start declaring bankruptcy

This pleading reeks of desperation. This is what panic looks like. 

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29 minutes ago, Muttsy said:

This pleading reeks of desperation. This is what panic looks like. 

They have been singing the same tune for this entire time:

1) BSA is running out of money

2) Give us a deal or else pension guarantee Corp comes in and takes everything

3) if the TCC really cares about all victims it will do anything it can to keep this out of state courts where some/most victims will walk away with nothing 

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FCR/Coalition filed a proposed “plain English” document for “abusive  victims” (sic) to receive.

As you can imagine it puts Plan 5.0 in the best possible light.

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/50451505-f81e-41f2-b64a-cae67dd03d3e_6312.pdf

The Coalition and the FCR believe that the approval and implementation of the global settlement among the Boy Scouts, the Local Councils, the Coalition and the FCR embodied in the Plan is in the best interests of creditors and RECOMMEND THAT YOU VOTE TO ACCEPT THE PLAN.”

emphasis in original 

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3 hours ago, Muttsy said:

This pleading reeks of desperation. This is what panic looks like. 

Or, it looks like buying a car. Maybe they're just haggling over a price. It looks to me both sides have threatened to walk away, and everyone knows that's bad for their side. 

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Insurance companies respond to Green withholding documents claiming mediation privilege.

How can Green have mediation privilege when he was a) NEVER a mediator b) a party to the mediation or c) specifically rejected as a mediator?

Also Green is claiming some kind of “preparing to be a mediator privilege” which seems bizarre 

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/7dd12f1f-e5a6-41b8-bbd5-a859cccb966f_6316.pdf

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BSA now filed its plan timeline for confirmation (assuming judge approves solicitation and voting procedures, etc.)

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/5d94547b-50b8-48c3-a633-0e84714985a6_6320.pdf

Confirmation hearing December 9

Event

 

Date

 

Deadline to Serve Written Discovery

September 27, 2021

Deadline to Serve Responses & Objections to Written Discovery

October 1, 2021

Document Production Substantially Complete

October 20, 2021

Deadline to Complete Fact Depositions

November 4, 2021

Expert Reports Due

November 8, 2021

Rebuttal Expert Reports Due

November 17, 2021

Deadline to Complete Expert Depositions

November 24, 2021

Deadline to Exchange Deposition Designations and File Motions in Limine

December 1, 2021

Deadline to Exchange Deposition Counter-Designations

December 3, 2021

Deadline to Submit Pretrial Order, Witness and Exhibit Lists, Oppositions to Motions in Limine, and for Objections to Deposition Counter-Designations

December 6, 2021

Final Pretrial Conference

[December 7], 20213

Confirmation Hearing

December 9, 2021 at 10:00 a.m. (Eastern Time)4

 

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3 minutes ago, CynicalScouter said:

BSA now filed its plan timeline for confirmation (assuming judge approves solicitation and voting procedures, etc.)

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/5d94547b-50b8-48c3-a633-0e84714985a6_6320.pdf

Confirmation hearing December 9

Event

 

Date

 

Deadline to Serve Written Discovery

September 27, 2021

Deadline to Serve Responses & Objections to Written Discovery

October 1, 2021

Document Production Substantially Complete

October 20, 2021

Deadline to Complete Fact Depositions

November 4, 2021

Expert Reports Due

November 8, 2021

Rebuttal Expert Reports Due

November 17, 2021

Deadline to Complete Expert Depositions

November 24, 2021

Deadline to Exchange Deposition Designations and File Motions in Limine

December 1, 2021

Deadline to Exchange Deposition Counter-Designations

December 3, 2021

Deadline to Submit Pretrial Order, Witness and Exhibit Lists, Oppositions to Motions in Limine, and for Objections to Deposition Counter-Designations

December 6, 2021

Final Pretrial Conference

[December 7], 20213

Confirmation Hearing

December 9, 2021 at 10:00 a.m. (Eastern Time)4

 

When does voting start/end?

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8 minutes ago, Eagle1993 said:

When does voting start/end?

That was a separate filing is laid out here.

Looks like October 4 - November 16 with the tally reported November 30 at the latest.

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/ce88d5fe-54e9-4b60-a100-584d8909acec_6215.pdf

 

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On 9/15/2021 at 4:18 PM, Muttsy said:

I like the TCC Plan. A LOT. Quite an about face. It is a much clearer path. I’m sorry it has taken so long to roll out. It could well be a game changer. 

I'm sorry but that's not a "Plan", it's a general idea on how they'd do things.  Developing workable details on that "plan" aren't going to be any simpler than what we've already be doing for the last 2 years.

 

On 9/16/2021 at 12:26 PM, Eagle1993 said:

If 637 kids drowned since 2010 in BSA I would think you would say we need to relook at our water safety program ....  637 is far too many CSA claimants.  I agree we have improved.  I don't agree we are doing everything we can.

You can't compare accidents with deliberate acts.  It's far far simpler to prevent accidents than to stop someone from doing something deliberately.

As far as your belief that "We're not doing everything we can"; well no, obviously we aren't doing everything we can.  But "everything we can" isn't the standard we want to hit it's "everything we reasonably can".  I mean, we could require that every scout be accompanied by a guardian at all times.  Or we could require that no adult every be in the presence of a scout without 2 other adults present and observing.  Or we could require that every scout and adult wear a body camera that's running at all times.  But none of those ideas are reasonable or functional with the goals of the organization. 

I've seen any number of people who seem to share your belief that "more can be done" and yet I've not heard any of those people come up with an actual idea that could be implemented; so I'm left thinking that what people really mean is "I wish there was something more we could do".

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