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


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Literally minutes before the hearing, BSA drops a revised schedule that is supposedly approved by TCC>

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/979151ac-9556-4dac-ba1b-6af093259003_6494.pdf

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The TCC and the Insurers, including the Certain Insurers, have agreed to the entry of the Revised Proposed Order.

Still on track for January 24.

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,

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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95% of paper printed. Equivalent of 16 million pages. Used double sided printing and printing multiple pages per page.

Solicitation packages getting mailed today. First wave: incarcerated.

100% complete mailing by weekend.

Mediation: no agreements to announce.

 

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13 minutes ago, leedavid815 said:

Does the Trust Distribution Proceedure Payout account for the highest bracket or combine all that we experienced? Are the original factor multipliers still valid or did they change?

First, welcome.

Second, you need to speak with an attorney.

Third, the ONLY thing that the tables show is

  1. The tiers of abuse
  2. The BASE valuation
  3. The MAXIMUM valuation.
  4. Once done the adjustments start to get made:
  5. Statutes of limitations Gray 1/2/3/Closed will adjust that number DOWN.

Other mitigating factors will adjust down.

Others aggravating factors will increase that number.

ALL that this TDP chart shows is broad, general, non-specific-to-your-case information.

So, I go back to the second point: speak with an attorney. Simply looking at a chart does NOT say what YOUR particular case means.

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3 minutes ago, leedavid815 said:

Thank You. I didn't see the mitigating factors in the TDP. You confirmed it. I guess the Discovery will expound on it. There are still much to be mediated. I see many insurance companies still to be bargained with.

There are 3 variables.

  • Variable 1: Value of claim. That is expressed as type of abuse, BASE value and MAXIMUM
  • Variable 2: Mitigating Scaling Factors: there are at least 4:  Absence of Protected Party Relationship or Presence of a Responsible Party that Is Not a Protected Party; Other Settlements, Awards, Contributions, or Limitations; Statute of Limitations or Repose and BSA’s Discharge; Absence of a Putative Defendant
  • Variable 3: Aggravating Scaling Factors: Impact of the Abuse (Mental Health Issues, Physical Health Issues, Interpersonal Relationships, Vocational Capacity, Academic Capacity, Legal Difficulties); Abuser Profile (the more victims, the more money); Nature of Abuse and Circumstances
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9 minutes ago, CynicalScouter said:

Variable 3: Aggravating Scaling Factors: Impact of the Abuse (Mental Health Issues, Physical Health Issues, Interpersonal Relationships, Vocational Capacity, Academic Capacity, Legal Difficulties); Abuser Profile (the more victims, the more money); Nature of Abuse and Circumstances

Nature and Circumstances, just FYI:

a. Extended duration and/or frequency of the Abuse;
b. Exploitation of the Abuse Claimant for child pornography;
c. Coercion or threat or use of force or violence, stalking; and
d. Multiple perpetrators involved in sexual misconduct.

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The insurers really, really don't like BSA trying to get a Protective Order from the court for things they haven't even asked for yet.

Century- it is wrong and unconstitutional!: https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/0b016f1d-6cff-40fd-b4aa-5d106a300ad6_6495.pdf

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Rather than follow the familiar course of
responding to discovery requests, meeting and conferring about disputes—as the Local Rules
require—and seeking to narrow any unresolved issues, the Debtors lurched for a prospective
ruling on not-yet-seen-or-served discovery responses....the Court lacks constitutional authority to grant the Debtors’ unripe requested relief

AIG - at least let us ASK and say NO before running to the judge: https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/940034c2-64a2-4739-8cce-6019ab64d2fa_6497.pdf

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Debtors’ Motion seeks an impermissible advisory opinion on non-existent discovery disputes.

 

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5 minutes ago, johnsch322 said:

Is there anyone on this forum that could give me a rational objective reason to vote anything but NO on the current proposal?

My fear is that the answer to your question is for a lot of people "I haven't been paying attention but have a Coalition attorney I have never heard from who wants a payday sooner rather than later to pay his/her bills so they are telling me to vote yes and I'll get my pennies sooner."

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9 minutes ago, johnsch322 said:

Is there anyone on this forum that could give me a rational objective reason to vote anything but NO on the current proposal?

Easy. You’re desperate to buy that pair of Ferragamos and matching croc belt.  

Edited by ThenNow
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2 minutes ago, MYCVAStory said:

With the little money at stake you mean a "Roylex" and "Guchey" shoes. 😉

I was cipherin my purchases on the off ramp cash. WHICH I WILL NOT NOT NOT BE TAKING.

Disclaimer: The above conversation is a miserable attempt at humor in the midst of a dark situation in which humor is my best hope of balance and sanity. -Management 

Edited by ThenNow
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