Chapter 11 Announced - Part 7 - Plan 5.0 - Voting/Confirmation

[Eagle1993 2160]

33 minutes ago, fred8033 said:

Could be argued (not by me) that COs are making substantial contribution because the insurance contribution is by the same insurance policy that covers the CO.  Effectively, that's the CO making a significant contribution thru their insurance coverage.  

I think that could be argued for post 1975.  The question is what is the value of that insurance once these insurance settlements are coming through.  
 

Now, prior to 1975 there was no insurance being provided. 

[ThenNow 1373]

2 hours ago, fred8033 said:

Correct.

Gotcha. Your post seemed to say the opposite, but I move fast and use the Evelyn Woodhead Sped Riddin’ method. (Nod to Messrs. Marin & Chong.)

Counter argument being 55,000+/- guys get very little, if anything, in state court per the currently configured SoLs. Take out the third party contributions and what is their average award in a BSA only plan? Dunno, but minimal. Not advocating for or agin, but I understand both perspectives. Personally, I almost certainly do better on the toggle toboggan with a handful of open claims against my LC and likely fewer implicating the CO. Huge headache and nausea inducing, at best. I have Limitrex and a cast iron stomach. Many others do not. Gauging by my olfactory intake, any and all options smell relatively putrid at this point. Something about Limburger cheese and body oder emanating from the whole “steaming pile of cowpucky.” (Nods to TK’s recent Tweetage and Tall Tales & Legends, respectively.)

Edited December 29, 2021 by ThenNow

[johnsch322 524]

13 minutes ago, ThenNow said:

(Nod to Messrs. Marin & Chong.)

And who knows but this bankruptcy could just go "up in smoke".

[RememberSchiff 3662]

Lets stay on topic,  Chapter 11 Voting and Confirmation. Thanks, RS

[ThenNow 1373]

15 minutes ago, RememberSchiff said:

Lets stay on topic,  Chapter 11 Voting and Confirmation. Thanks, RS

So, the “YP & 18-20 Year Olds” topic runs through multiple posts on Iron City rot gut, the need for ASMs to choose better mentors for the selection of camp alcohol, the disdain for IPA and Crap, er, Craft beers, nationwide alcohol distribution, the ease of quitting drinking, and all manner regarding women who like or don’t like camping, and I get dinged (again) for an inside joke. Got it. Back to bankruptcy, voting and confirmation. I won’t say what I wanted to say...   

PS (and this is not what I refer to in the last sentence) - Some of us happened to be abused by our SM after booze (including domestic beer and rot gut) were used to groom us. Some of us were abused at Summer Camp in such circumstances. Some of us took 35 years to “quit drinking.” I won’t go on at this point. 

Edited December 29, 2021 by ThenNow

[johnsch322 524]

43 minutes ago, johnsch322 said:

And who knows but this bankruptcy could just go "up in smoke".

From my observations on the way the voting is a total screw up, the BSA choosing the coalition and their less than scrupulous methods of dealing with their clients and the good chance that BSA will not be able to get a confirmation in their favor I hope someone at BSA asks the question:

Did all those millions of dollars we spent over the past couple of years just go up in smoke?

[RememberSchiff 3662]

15 minutes ago, ThenNow said:

So, the “YP & 18-20 Year Olds” topic runs through multiple posts on Iron City rot gut, the need for ASMs to choose better mentors for the selection of camp alcohol, the disdain for IPA and Crap, er, Craft beers, nationwide alcohol distribution, the ease of quitting drinking, and all manner regarding women who like or don’t like camping, and I get dinged (again) for an inside joke. Got it. Back to bankruptcy, voting and confirmation. I won’t say what I wanted to say...   

Yes that topic ran its course and wandered but the posts that followed were coherent and scoutlike. Probably should have split off to separate topics but didn't get around to it. Happens at the end of the year.

But I will do some housekeeping with that topic. I look forward to more coherent and scoutlike posts from that former practicing attorney in you.

RS

Edited December 30, 2021 by RememberSchiff

[johnsch322 524]

2 hours ago, RememberSchiff said:

I look forward to more coherent and scoutlike posts from that former practicing attorney in you.

Honestly @ThenNowposts are coherent, maybe at times sarcastic and witty but much needed.  I see nothing unscoutlike form him.

[T2Eagle 902]

2 hours ago, johnsch322 said:

From my observations on the way the voting is a total screw up, the BSA choosing the coalition and their less than scrupulous methods of dealing with their clients and the good chance that BSA will not be able to get a confirmation in their favor I hope someone at BSA asks the question:

Did all those millions of dollars we spent over the past couple of years just go up in smoke?

I suspect that since the original plan: 12,000 (or whatever the original number was) claimants and a quick exit has long since disapparated, the process has taken on a life of its own, and no one can bring themselves to say "stop! let's rethink this entirely"

Edited December 30, 2021 by T2Eagle

[johnsch322 524]

Now that the voting is done and most of the lawyers probably have a fairly good idea how the vote stands and if it looks like it will be rejected there will be a few of them losing sleep.  If the confirmation turns into a cram down the $3500 opt out may go entirely away. Especially the law firms who did very little vetting of their clients and were expecting to get at least $1400 per client. At best the opt out will be around $500.  Lawyers take on that will be around $200 and even if you had 1,000 clients that is only $200,000 which may not be enough to pay back their loans.  

Think of the firm with 100 clients who all voted yes I bet they have more than 20,000 invested.

[skeptic 992]

1 hour ago, T2Eagle said:

I suspect that since the original plan: 12,000 (or whatever the original number was) claimants and a quick exit has long since disapparated, the process has taken on a life of its own, and no one can bring themselves to say "stop! let's rethink this entirely"

Like this new word; "disapparated".  Can we get a definition please, or should we all come up with our own?  Disappear and dissipate merged?🧐

[T2Eagle 902]

32 minutes ago, skeptic said:

Like this new word; "disapparated".  Can we get a definition please, or should we all come up with our own?  Disappear and dissipate merged?🧐

"The word was invented by J. K. Rowling in the Harry Potter books to describe a form of teleportation from one place to another, but in derived usage it often means just to disappear completely."  https://en.wiktionary.org/wiki/disapparate

[johnsch322 524]

From Tim Kosnoff Twitter

Kosnoff Law

@SexAbuseAttys

·

29m

Happy New Year Friends and Followers. I have great news to share. Judging by the flurry of deposition notices filed by BSA last night to depose most of the firms urging clients to Reject and seeking evidence of the impact of the “Kosnoff Communications” on the vote,THEY LOST BIG 3

1

5

Kosnoff Law

@SexAbuseAttys

·

29m

Now BSA wants to invalidate your REJECT votes

[skeptic 992]

Sorry, but this man has no character.  First of all, he does not know the results, or should not know.  More importantly, even if he is right, his crowing and making negative comments is surely poor attitude, and would, I it seems to me, to reflect very poorly on his ethics.  JMO of course.  I know some here seem to feel he is an honorable and worthy lawyer.  Don't see it, and he is in my list to have predator birds named in the large bald flock.

 

[johnsch322 524]

1 minute ago, skeptic said:

Sorry, but this man has no character.  First of all, he does not know the results, or should not know.  More importantly, even if he is right, his crowing and making negative comments is surely poor attitude, and would, I it seems to me, to reflect very poorly on his ethics.  JMO of course.  I know some here seem to feel he is an honorable and worthy lawyer.  Don't see it, and he is in my list to have predator birds named in the large bald flock.

 

I read notice of depositions including the one from the BSA to the TCC and I agree with his assessment. Personally I am looking forward to the official vote count and I hope the offer was rejected.