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


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I think I hear wayyyy off in the distance the TCC's planes getting closer and closer to dropping a load of objections and motions onto the court.  I'm still guessing it's by the close of business today.  Whether that's the COB east coast or west coast is the question but they had to expect this and be prepared for this plan to be filed. 

 

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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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5 minutes ago, MYCVAStory said:

I think I hear wayyyy off in the distance the TCC's planes getting closer and closer to dropping a load of objections and motions onto the court

For the most part, since Plan 5.0 has many similarities to Plan 3.0, it will be recycling cut-and-paste from their previously filings. So I agree, it is going to be sooner rather than later.

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31 minutes ago, CynicalScouter said:

Ah, no. I ran that data awhile about. A majority of NEB members present in 2010 were present in 2020, according to IRS 990 records. That's not "very different".

Unless BSA lied about who was on the NEB to the IRS.

And just a reminder: it is literally IMPOSSIBLE to even determine who the NEB are based on the website.

Only not for profit I know that hides leadership names.

Having seen the attendees for about a decade, those attendees to the NEB have changed - my feeling is a reasonably large amount but perhaps it was not as large as my perception.  The NEB is more diverse too.

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1 minute ago, vol_scouter said:

Having seen the attendees for about a decade, those attendees to the NEB have changed - my feeling is a reasonably large amount but perhaps it was not as large as my perception.  The NEB is more diverse too.

I am a no nothing relative outsider, but why isn't the composition completely accessible and distributed, along with available experience and bios? I feel more wretching coming on...

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2 minutes ago, ThenNow said:

I am a no nothing relative outsider, but why isn't the composition completely accessible and distributed, along with available experience and bios? I feel more wretching coming on...

The only explanation of which I am aware is the threats that have been made on the lives of many in upper management.  I am not defending the practice.

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6 minutes ago, vol_scouter said:

those attendees to the NEB have changed

Great. But the BSA filed statements with the IRS listing all board members and the difference between 2010 and 2020 was less than 50%.

Unless of course BSA was lying to the IRS about who was/was not on the NEB.

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4 minutes ago, ThenNow said:

I am a no nothing relative outsider, but why isn't the composition completely accessible and distributed, along with available experience and bios? I feel more wretching coming on...

They used to until the mid-2000s then started to hide the information. I found it because while they can hide it from the scouts and scouters, they have to turn over that info to the IRS as part of their 990s which are then open for public review and inspection on the IRS website or some places aggregate them like for example

https://projects.propublica.org/nonprofits/display_990/221576300/03_2021_prefixes_21-23%2F221576300_201912_990_2021030217778557

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Just now, CynicalScouter said:

Great. But the BSA filed statements with the IRS listing all board members and the difference between 2010 and 2020 was less than 50%.

Unless of course BSA was lying to the IRS about who was/was not on the NEB.

All that I have to judge is the attendees.  Not implying anything about the official list, just the attendees.  I have no doubt that the IRS filing is correct.

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Recall that there is a fairly complicated set of formulae that determines contribution.  It's not simply the number of claims, it's also the state laws, the distribution of claim types, and the financial health, among other factors.  From my perspective in a smaller council, we got penalized because we didn't have much debt.  On the other hand, the first pass of the formula capped larger council contributions at $5M, which struck me as low (since relaxed).  The numbers don't explain the nuance, for example some councils making contributions despite having a negative number of financial assets, or the Dallas council making a contribution many times larger than its assets.  I'm sure the numbers will change again before the process is over.

Recall also that there were five or six councils that simply declined to participate by the July deadline, with the expectation that they would be filing bankruptcy or merging with other councils.

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I think I struck a nerve.

The issue is that the Kosnoff Konspiracy holds that Siverstein was "CHOSEN" (note the word the word here) by BSA.

 

As I noted several times: cases are assigned to bankruptcy judges at RANDOM unless the Clerk of Court was part of the Kosnoff Konspiracy, too.

Which means no, Silverstein was NOT in fact "chosen by BSA". Silverstein was CHOSEN by random draw.

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7 minutes ago, CynicalScouter said:

I think I struck a nerve.

The issue is that the Kosnoff Konspiracy holds that Siverstein was "CHOSEN" (note the word the word here) by BSA.

 

As I noted several times: cases are assigned to bankruptcy judges at RANDOM unless the Clerk of Court was part of the Kosnoff Konspiracy, too.

Which means no, Silverstein was NOT in fact "chosen by BSA". Silverstein was CHOSEN by random draw.

You went from his favorite to not favorite in a pretty short amount of time. 

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3 minutes ago, Sentinel947 said:

You went from his favorite to not favorite in a pretty short amount of time. 

Guess this means I take the seat. In fairness to me, we were connected by an "also" which means I was pretty much already tied for first. I don't think the judge has ruled on that yet, though, and the media has failed to report its definitive opinion. 

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Very interesting numbers by council.   Some are all cash, some all property.   A lot are more than 50% property so you can see who's going to sell I guess.  Only about 30% of the councils have numbers higher than the 600M/250 = $2.4 per council that was floating around.  13M in properties for Orange county is only one latrine at their camp. 😉

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