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


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Merry Christmas. Don’t say I didn’t give you anything. It’s a small gift, but shows I’m thinking about you. I’m told that’s what really matters. Besides, Americans spent approximately $6.1B on Christmas trees and $15.2B on unwanted gifts. This was free, didn’t require killing any trees and, best of all, I didn’t have to wrap it! An interesting piece.

https://www.bloomberg.com/opinion/articles/2021-12-23/the-purdue-bankruptcy-didn-t-work

Edited by ThenNow
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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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25 minutes ago, ThenNow said:

Merry Christmas. Don’t say I didn’t give you anything. It’s a small gift, but shows I’m thinking about you. I’m told that’s what really matters. Besides, American’s spent approximately $6.1B on Christmas trees and $15.2B on unwanted gifts. This was free, didn’t require killing any trees and, best of all, I didn’t have to wrap it! An interesting piece.

https://www.bloomberg.com/opinion/articles/2021-12-23/the-purdue-bankruptcy-didn-t-work

Merry Christmas to you @ThenNow!!  You give with all of your wit and insights all year long.  

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4 hours ago, johnsch322 said:

Merry Christmas to you @ThenNow!!  You give with all of your wit and insights all year long.  

Well, that just churns up the silt some more for me.  I can see connections in the discussion, but it really is not the same thing at all, other than a massive attempt to solve a wrong without really solving anything.  And BSA is a NFP entity, so the damage really mostly affects those that BSA serves, the youth.  No such thing as a "fair" outcome in reality.  Some will never be satisfied, few if any victims will be made even close to whole, and unless we learn something, as a society, little will change.  Back to "lady justice" with her scales.  Merry Christmas.  

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19 minutes ago, skeptic said:

Well, that just churns up the silt some more for me.  I can see connections in the discussion, but it really is not the same thing at all, other than a massive attempt to solve a wrong without really solving anything.  And BSA is a NFP entity, so the damage really mostly affects those that BSA serves, the youth.  No such thing as a "fair" outcome in reality.  Some will never be satisfied, few if any victims will be made even close to whole, and unless we learn something, as a society, little will change.  Back to "lady justice" with her scales.  Merry Christmas.  

What kind of comment is that t0 a Merry Christmas post to an individual?  would like to see how you react to "Good will towards all men"?

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16 minutes ago, johnsch322 said:

What kind of comment is that t0 a Merry Christmas post to an individual?  would like to see how you react to "Good will towards all men"?

It is in response to the link on Purdue, though that likely should have been seen.  But, I can not ever make some individuals look beyond their own bias and darkness.  Still, IF you believe in something, I still offer you too a Merry Christmas where we in theory celebrate the birth of a Love most of us struggle to emmulate.  🎅

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19 hours ago, skeptic said:

It is in response to the link on Purdue, though that likely should have been seen.  But, I can not ever make some individuals look beyond their own bias and darkness.  Still, IF you believe in something, I still offer you too a Merry Christmas where we in theory celebrate the birth of a Love most of us struggle to emmulate.

My intention was to wish all a sincere Merry Christmas and relay a recent article, without opinion as to its content. Just something I found in my reading. Sorry to have caused tension and churned up the grounds in the bottom of your campfire coffee.

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@melissabjacoby tweeted that the BSA ballot  (22 pages) is not fitting in the supplied envelope.  5 non-consecutive pages require signatures.  Note that other forms of voting are allowed but this issue may come up later if ballots are not received.  
 

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Kosnoff uploaded his full deposition.  I’m listening while working on my bathroom remodel. Interesting background on the formation of AIS and the Coalition.  The coalition apparently started with a plan to litigate the separation of LCs vs National (they were planning to argue that it was one big entity).   That switches when tort lawyers joined in whose goal was fast settlements.  Also, per Kosnoff, Rothweiler took out loans to pay for litigation, spent more than their line of credit then signed over some of their settlement proceeds to Wall Street.  Kosnoff indicated he was asked by these firms to sign on and he refused.  Only 30 mins in…
 

 

 

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1 hour ago, Eagle1993 said:

 

Kosnoff uploaded his full deposition.

 

Think what you will about TK, but remote video depositions are hereby awful. Screen freezes, echoes and feedback create a terrible circumstance under which to be deposed. Ack. Going back to watching…

Add to the awful and unfair, frankly, unmuted (apparently technologically inept) attorneys who keep interrupting with hot mic blather.

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2 hours ago, ThenNow said:

Think what you will about TK, but remote video depositions are hereby awful. Screen freezes, echoes and feedback create a terrible circumstance under which to be deposed. Ack. Going back to watching…

Add to the awful and unfair, frankly, unmuted (apparently technologically inept) attorneys who keep interrupting with hot mic blather.

I haven’t watched the video but I did read the transcript. It gives a very telling behind the scenes look at the coalition. It is no wonder why TK wanted to be deposed. It is a story that needed to be told. 

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18 minutes ago, johnsch322 said:

It gives a very telling behind the scenes look at the coalition. It is no wonder why TK wanted to be deposed. It is a story that needed to be told. 

One word. “YIKES!” Okay. Two words. “POW!!” (Nod to the Batman.)

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1 hour ago, ThenNow said:

One word. “YIKES!” Okay. Two words. “POW!!” (Nod to the Batman.)

It seems clear that Patterson (I believe representing Zalkin) dug deep into the Coalition confusion and especially the eBallot and voting.  I expect this could come up again when reviewing voting results from coalition law firms. 
 

Century  (Tanc) asked a ton of wide ranging questions.   I still have an hour left but so far, most of the interest was in the signing/vetting of claims.  He also identified a case where Kosnoff lost where a judge indicated that charted orgs have the primary liability not BSA.  
 

We are less than 24 hours until voting closes out.  If I were to bet, I don’t expect this plan will receive enough yea votes.  We may actually see more than 66%, but given the non debtors involved I think the judge will need to see 95% or more.  
 

I think we get official info next year.

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2 hours ago, Eagle1993 said:

Century  (Tanc) asked a ton of wide ranging questions.

Favorite moment, as I am want to identify: Tanc objects to Kosnoff calling him “entertaining.” Can’t make this stuff up.

Gets pretty interesting around 4:20PM+ (clock time), once Hogan takes his turn. Might be later. I didn’t pay too close attention.

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I can't recall whether I've said it directly or only by implication.

I recall at least 2 references of mine to George Peppard about loving "when a plan comes together."

Well, the plan seems to be rotting.

Litigation is a huge and complex legal process. Outcome uncertain.  As we have all seen in National's bankruptcy.

"When the waves turn the minutes to hours." Gordon Lightfoot.

National seems to have hoped to do a "quick hit" and exit bankruptcy leaving all its legal problems behind with the Settlement Trust to pick, up the pieces.

And the "quick hit" has turned into hours.  And months.

At the end of this National will likely walk away with a barrel of goo.

And from that, National will have to fashion a national movement based on the principles of Scouting.

And who will follow?

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