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


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Stang doesn't want the CO claims lumped by religious organization (e.g. Roman Catholic Church, etc.) or even Dioceses. He wants to have all 40,000 COs listed and how many claims per CO.

The judge is worried about misleading people.

Edited by CynicalScouter
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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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They attorney from Guam is bringing up again what Stang and others have: the COs should be subject to the same kind of analysis of how "substantial contribution" the LCs are and that includes a listing of all assets and how much of those assets are being put in.

The LDS has $100 billion.

https://www.wsj.com/articles/the-mormon-church-amassed-100-billion-it-was-the-best-kept-secret-in-the-investment-world-11581138011

$250 million is almost a rounding error at that point.

The BSA wants to push this off until Confirmation and claims that total CO assets vs. contribution shouldn't be the analysis done.

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9 minutes ago, Eagle1993 said:

Talks primarily to LC disclosures and the judge encouraging the TCC to share the information they have.

https://www.reuters.com/legal/transactional/boy-scouts-plaintiffs-lawyers-call-breakdown-local-council-abuse-claims-2021-09-21/

For the longest time the TCC has wanted their view of what THEY view as available LC assets to be disbursed to anyone and everyone. Councils were told NOT to release this because it was mediation privileged.

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The dispute was put on the back burner after a lawyer for the official tort claimants’ committee, James Stang of Pachulski Stang Ziehl & Jones, offered to share information his team has put together surrounding certain claim valuations and how much is being contributed by local councils compared with their available assets.

 

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Remember how in August the judge got really, really annoyed that an attorney attempted to withdraw/dump their client simply by posting a notice to the court of withdrawl? And how the judge noted that in her court, you need the court's permission?

Well, the law firm (Mones) is now trying to dump the client.

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/8eaff829-fbc6-4068-851f-87b877ebc465_6343.pdf

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25 minutes ago, CynicalScouter said:

Judge "I was surprised to see his [Green's] name come back in this case."

She said she wasn't saying anything more than that, but it is clear that she is NOT thrilled with Green being trustee.

Who is Green?

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12 minutes ago, Eagle1993 said:

Who is Green?

Kermit. But it's not easy.

Seriously. He's the proposed Settlement Trustee.

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"He’s very close to BSA’s lawyers. He’s done a LOT of mediations for Sidley and Austin which are Lauria and Andolina’s prior firm. Green was rejected by the TCC as a mediation team member for that reason and others. He is said to have a god complex. Lawyers who had dealings with him were not complimentary. A vocal lawyer on the Coalition advocated hard for him a year ago."

https://www.scouter.com/topic/32676-chapter-11-announced-part-4-revised-plan/page/79/?tab=comments#comment-529544

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Is isn't this the same Eric Green who the BSA wanted appointed as a mediator in April/May 2020 but the judge selected retired bankruptcy judge Kevin Carey instead?

BSA proposal and an insurer's opposition to Green's appointment back in May, 2020

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/819015_617A.pdf

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/819470_647.pdf

https://www.scouter.com/topic/32676-chapter-11-announced-part-4-revised-plan/page/79/?tab=comments#comment-529543

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If memory serves, the insurers had significant issues with his appointment.  The TCC if memory serves was strongly advocating for Paul Finn, who had significant experience with abuse cases, so that left the other parties to have a leg up on selecting "their" choices to comprise the three mediators.  We need to remember that this is a pretty small and specialized pool so many bankruptcy and trust professionals work together as partners in the morning and then find themselves as opponents in the afternoon!  This isn't to promote Green's becoming the Trustee but to at least point out that he has experience as one.  Let's hope that whoever becomes the trustee if that becomes reality will understand the importance of communicating with the "classes" he/she oversees.

https://www.scouter.com/topic/32676-chapter-11-announced-part-4-revised-plan/page/79/?tab=comments#comment-529550

 

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Judge is really trying to understand why the BSA gets to pick the trustee and why there is a trustee advisory committee, etc.

She's perturbed.

Ed Harron does NOT want the insurance companies to talk, but as the judge notes, the plan makes the insurance companies a beneficiary, therefore they have standing to speak.

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Judge notes that Humphrey is represented by counsel, but IS allowing him to speak for just this.

Survivors struggle with trust in general, survivors are not clear that now that the Coalition is an adversary to the TCC that they will get a fair shake. They are looking to you judge to provide a fair shake. That's all I have to say.

Stang wants a big disclaimer in the disclosure about Green.

Stang want disclosures of professional relationships between Green and Coalition.

BSA supports appointment of Green and is OK with footnote 93 to be put into main body of disclosure statement.

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This is the Green conflict-of-interest statement that was Footnote 93

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As explained in Article V.K herein, the Debtors filed the Mediation Motion, requesting the appointment a sitting bankruptcy judge as a mediator if the relevant parties were unable to agree on a mediator before the hearing on the motion [D.I. 17]. After more than two months of negotiations among the Debtors, the Tort Claimants’ Committee, the Creditors’ Committee, the Future Claimants’ Representative, and the Ad Hoc Committee, the Debtors filed a revised mediation order, including the identities of the Debtors’ proposed mediators: Paul Finn, Timothy Gallagher, and Eric Green [D.I. 782]. Each of the proposed mediators filed declarations, disclosing their respective connections to parties-in-interest in the Chapter 11 Cases [D.I. 710, 711, 712]. Certain insurers objected to the Debtors’ proposed mediators asserting, among other things, that Mr. Green must be disqualified because the Future Claimants’ Representative, James L. Patton, or his law firm, have represented Mr. Green in his capacity as future claimants’ representative in certain mass-tort cases [D.I. 658, 759, 646, 761, 648, 756]. Hartford and Century objected to the Debtors’ proposed mediators and filed declarations from the Honorable Kevin J. Carey (Ret.) and Kenneth Feinberg as their proposed mediators [D.I. 771, 773]. While the Debtors maintained that Eric Green was well qualified to serve as a neutral mediator, the Debtors expressed that they would welcome the appointment of Judge Carey as the sole or lead mediator if the Court deemed such appointment appropriate [D.I. 782]. Ultimately, the Bankruptcy Court entered the Mediation Order appointing Judge Kevin Carey (Ret.), Paul Finn, and Timothy Gallagher as Mediators [D.I. 812].

 

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