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


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11 minutes ago, ThenNow said:

Wee. Nigh onto my per diem back in the Wild West working world of 80's expense accounts. YeeHaw. I knew attorneys who billed clients for fresh (new) French cuff shirts while traveling. Nary an eye blink. (This is related and relevant to the topic because it is unpacking potential costs and fees associated with the case. True fact, as a good friend used to say.)

Not lawyer bashing but auditing legal bills are as important as all other invoices.  Had a lawyer in Vancouver Canada we used for various corporate issues who told us he would be in Calgary on a certain date for another client.  Just so happened we were meeting a vendor at the same time in the same city.  We agreed to business lunch meeting and we picked up the tab.  When we received the next months billing and lo and behold we got billed for the lunch hour (expected) but also for his flight back and forth (not expected and did not pay). After that I looked a little closer at his invoices.

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As the time that a vote total approaches, I encourage everyone to repeat the Scout Oath and Law several times to remind us how to treat one another.  There are victims here who wish for the plan

I just finished reading Bates' report.  Now I have a headache.  It's well-written, but a bunch of spin.  So we're too old to deserve a decent settlement?  While I get the sol issue, if a suit is valid

66% is the threshold for a bankruptcy.  However, WSJ was reporting even BSA admitted they needed 75% which they didn't reach.  There are two issues that the 73% causes. One will be with Silverste

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I have been tracking the pay applications posted on Omni since it started.  As of today total is $113,019,917.65.   Vast majority are 80% of what can be invoiced.  Interesting to track the BSA monthly reports as well to compare year to year revenue and expenditures.

Edited by Wyobkr
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Hearing agenda set.

410a5a25-20e3-48ed-b3d1-19a0d129b9e1_8391.pdf (omniagentsolutions.com)

No status conference listed.  So, the ideas of weather, Covid, etc. are out the door.  Why is the status conference not proceeding?

My understanding ... TCC requested conference, 1 law firm joined them, BSA objected and then the judge set the hearing for a status update.  Then ... a few days later, the judge cancelled that hearing.

It seems like the only explanation is that the TCC agreed to cancel the hearing (or at least didn't object).  The TCC hasn't had a townhall (I think they cancelled one), the Coalition townhall said TCC & BSA are in mediation.  

Perhaps, just perhaps, they are making good progress and we may see a new RSA with the TCC on board.  (The last RSA the TCC as on board, but only if the insurance settlement was excluded).  

Who knows, but a perhaps a glint of optimism (at least for those who are looking for this to close with BSA surviving).

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Just a reminder of the current schedule.  

If this plan continues to go forward, I'll be interested in seeing the plan objections that come in by Feb 4.  

  • Dec 29       Deadline to serve discovery on voting, settlements
  • Jan 4           Preliminary voting report
  • Jan 5          Rebuttal expert reports due
  • Jan 7           Deadline to serve responses/objections to voting/settlement discovery
  • Jan 14         Document production regarding voting/settlement due
  • Jan 17         Final voting report deadline
  • Jan 28         Deposition of expert witness & fact witnesses due
  • Jan 31         Deadline to identify trial witnesses
  • Feb 4          Plan objection deadline
  • Feb 10         Deadline to exchange depositions designations and file motions
  • Feb 14        Confirmation brief/plan reply deadline
  • Feb 15        Deadline to exchange deposition couter-designations
  • Feb 17        Deadline to submit joint pretial order, witness/exhibit lists, options to motions, etc
  • Feb 18        Final pretrial conference
  • Feb 22        Confirmation hearing
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It sounds like BSA lawyers testified today that they were aware of the coalition's eBallot, reviewed it and approved its use.   It also sounds like they do plan to go after master ballots.  So, expect a fight ... from both sides about ballots.

Some guesses...

BSA may fight power of attorney documentation to get claimants votes thrown from master ballots.

TCC and others may argue eBallot was not approved by the court, caused confusion, may have not been secure, etc., and therefore, any ballot submitted through the eBallot should be tossed.

I think these fights back and forth may be helpful to avoid issues in the next vote, but I would be shocked if any of this was used to kill or approve the deal.  JLSS has tossed votes in the past, but that was about invalid claims, not about POA or eBallots, etc.  I would be a bit surprised she would toss votes based on either of these arguments.

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31 minutes ago, Eagle1993 said:

It sounds like BSA lawyers testified today that they were aware of the coalition's eBallot, reviewed it and approved its use.   It also sounds like they do plan to go after master ballots.  So, expect a fight ... from both sides about ballots.

Some guesses...

BSA may fight power of attorney documentation to get claimants votes thrown from master ballots.

TCC and others may argue eBallot was not approved by the court, caused confusion, may have not been secure, etc., and therefore, any ballot submitted through the eBallot should be tossed.

I think these fights back and forth may be helpful to avoid issues in the next vote, but I would be shocked if any of this was used to kill or approve the deal.  JLSS has tossed votes in the past, but that was about invalid claims, not about POA or eBallots, etc.  I would be a bit surprised she would toss votes based on either of these arguments.

I agree with the last paragraph. I’ve spoken with people in the know and they believe the risk to JLSS and the case is too great if she starts tossing votes. The underlying problem, of course, is are there substantively invalid claims that are being counting on either side? Personally, and this is from knowledge of attorneys working the “reject” side, I don’t think invalidity is going to be high among most firm’s clients. From what I know, they did too much rigorous vetting for that to get by them. My opinion. The issue may not matter. I doubt much if any review will happen prior to getting before the Trustee’s throne of grace or judgment seat, as the case may be.

Edited by ThenNow
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Well, now we have Century going after Kosnoff.  

01823e91-93d1-4930-acb7-9f3d3456a987_1.pdf (omniagentsolutions.com)

Boy Scouts of America: Documents List (omniagentsolutions.com)

It looks like they are going for a restraining order against Kosnoff...

Quote

Motion for Temporary Restraining Order Filed by Century Indemnity Company, Chubb Group Holdings Inc.. Hearing scheduled for 1/24/2022 at 02:00 PM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #2, Wilmington, Delaware. Objections due by 1/24/2022. (Stamoulis, Stamatios)

Kosnoff was on twitter today, tweeting about the BSA deposition.  That may not be allowed.

He also plans to file a request to dismiss the Bankruptcy case.

Finally, he had a few unflattering things to say about the TCC ... but I expect the hearing is about the deposition chatter, not the TCC stuff.

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11 hours ago, Eagle1993 said:

Well, now we have Century going after Kosnoff.  

I cast my non-POA, non-master, non-e ballot for a mano a mano Tanc v Kosnoff face-off.  I’ll buy the live streaming rights, take wagers and we’ll make bank. Venue and form of combat TBD. Stay tuned...

By the way, “combat” is used broadly. It includes such things as checkers, one on one dodgeball, reflector oven baking, knots, impersonations, lawn darts, and etc. 

Edited by ThenNow
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14 minutes ago, ThenNow said:

I cast my non-POA, non-master, non-e ballot for a mano a mano Tanc v Kosnoff face-off.  I’ll buy the live streaming rights, take wagers and we’ll make bank. Venue and form of combat TBD. Stay tuned...

or maybe it is a little side show outside of the big tent?

 

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2 hours ago, ThenNow said:

I cast my non-POA, non-master, non-e ballot for a mano a mano Tanc v Kosnoff face-off.  I’ll buy the live streaming rights, take wagers and we’ll make bank. Venue and form of combat TBD. Stay tuned...

By the way, “combat” is used broadly. It includes such things as checkers, one on one dodgeball, reflector oven baking, knots, impersonations, lawn darts, and etc. 

Just remember, Lawn Darts have to follow BSA'S Shooting Sports rules, and Dodgeball is now banned.

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44 minutes ago, Eagle94-A1 said:

Just remember, Lawn Darts have to follow BSA'S Shooting Sports rules, and Dodgeball is now banned.

Dang it! TK colors outside the lines, so that may be tough to curtail. (Anyone else grow up calling them Jarts?)

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5 hours ago, Eagle94-A1 said:

 and Dodgeball is now banned.

Well.  In some places.  But in the wastelands of some districts, beyond the borders, where DE's and Commissioners fear to tread, the art of dodgeball is still practiced

Edited by Jameson76
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8 hours ago, ThenNow said:

Dang it! TK colors outside the lines, so that may be tough to curtail. (Anyone else grow up calling them Jarts?)

Yes, Jarts. Loved them.  I'd play my dad just about every time I stopped out to his house. Every week or two. He had phenomenal eye-hand coordination.  Phenomenal. The typical score was 21-4 or 21-6. I am an accomplished percussionist-I am not uncoordinated. I can play my drum set in complete darkness and hit every note on any part of my drum set that I want.  Dad whooped me every time.

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