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


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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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21 hours ago, Eagle1970 said:

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, there's no telling what a jury would do.  My abuser was a BSA employee who signed my merit badge card.  So there's not much question as to BSA liability.

If they reduce my claim by 90% for sol, then scale it down because I'm old, I just don't know why I'm bothering.  Maybe they could add a couple of additional minus-scaling factors and I will owe the BSA.

But the concept of this being equitable or full payment is laughable, or more likely tearful.

 

I hope the BSA doesn’t read this and think it would be a new way of raising money. Next they will come out and ask us to sign over whatever settlement checks we do get. Their pitch will be because they do so much good for so many people and how could we be so greedy LOL. 

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Insurance company raises concerns that KR is delaying his depositon and there are 50 scheduled and must be complete by Jan 28.  Basically, they are saying, sure voting issues are a concern, but there is a ton of legitimate discovery & depositions and there is no way to complete it per schedule.

309b8315-0640-4e92-a7d3-5de0e2e9d091_8331.pdf (omniagentsolutions.com)

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56 minutes ago, ThenNow said:

Hearing cancelled. Ugh.

**AT THE DIRECTION OF THE COURT, THIS HEARING IS CANCELLED**

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/bb83fb5a-7417-48cf-a88d-a1d50d4b257c_8334.pdf

What changed since the hearing was created?  Why would the court schedule a hearing (after seeing the request from TCC and objection from BSA) and then a few days later cancel the hearing?  I would have been optimistic, but after seeing the last BSA update, it seems like they are headed in the opposite direction so I tend to doubt any new plan will be announced.

Now, one thought - recently the Ann Taylor non debtor releases were rejected (now two cases are in limbo) and perhaps the court, BSA, others are rethinking what needs to be done here.  That decision came out after the BSA hearing was scheduled .and that judge said he recommended any case that includes non debtors should go to a district court first.  So, perhaps a chance, that BSA realizes they need to get a decision soon and should go to district court.  It would be great if the district court could also set the value of the of direct abuse claims.  To me, if a district court could clearly document what if any non debtors can be included and the value of the direct abuse claims ... the plan could come together rather quickly with low chance of failure in appeals.

In any case, I just don't like to see waste.  I hope that this isn't just a cancellation that will lead to delayed decisions and a longer wait to a final plan/solution.

Edited by Eagle1993
updated 2nd paragraph a bit
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50 minutes ago, Eagle1993 said:

What changed since the hearing was created?  Why would the court schedule a hearing (after seeing the request from TCC and objection from BSA) and then a few days later cancel the hearing?  I would have been optimistic, but after seeing the last BSA update, it seems like they are headed in the opposite direction so I tend to doubt any new plan will be announced.

Now, one thought - recently the Ann Taylor non debtor releases were rejected (now two cases are in limbo) and perhaps the court, BSA, others are rethinking what needs to be done here.  That decision came out after the BSA hearing was scheduled .and that judge said he recommended any case that includes non debtors should go to a district court first.  So, perhaps a chance, that BSA realizes they need to get a decision soon and should go to district court.  It would be great if the district court could also set the value of the of direct abuse claims.  To me, if a district court could clearly document what if any non debtors can be included and the value of the direct abuse claims ... the plan could come together rather quickly with low chance of failure in appeals.

In any case, I just don't like to see waste.  I hope that this isn't just a cancellation that will lead to delayed decisions and a longer wait to a final plan/solution.

I suppose it's not impossible that this is due to Covid.  So many things are getting cancelled/postponed right now. 

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35 minutes ago, yknot said:

I suppose it's not impossible that this is due to Covid.  So many things are getting cancelled/postponed right now. 

Yes, this is definitely a possibility as well. 

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Final vote still due today?

On 1/10/2022 at 4:44 PM, Eagle1993 said:

Just a reminder where we are in terms of schedule.  The TCC asked to have a status hearing Jan 12 or sometime soon but so far no response from the JSS.

I think the big date will be January 17th.  Perhaps Omni made some major errors that could swing the vote %.  I wonder if the judge will wait until January 17th, see the final voting report and then utilize a status hearing to provide tea leaves as to where this plan stands.  

 

  • 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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11 minutes ago, RememberSchiff said:

Final vote still due today?

 

Yes it is, so that may be interesting.  I would think any change would require more discovery into voting and vote counting.

I was wondering if perhaps Omni/BSA/LSS are aware of a major vote change (moving to 80%+) that would cause the meeting to be cancelled.  However, there were many other concerns listed that even if the vote increased greatly, the hearing would have been helpful.  In addition, a major vote count, in and of itself, could cause a need to revisit the schedule.  So, I lean to the options of..

  • BSA has a change in direction (updated plan and/or updated strategy)
  • LSS or someone else critical is ill/has Covid 19/has been exposed
  • BSA found a major diamond deposit at Philmont

 

 

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2 hours ago, Eagle1993 said:

I was wondering if perhaps Omni/BSA/LSS are aware of a major vote change (moving to 80%+) that would cause the meeting to be cancelled. 

I spoke with Omni. The person in the know said, “The tabulation results are going to vary a bit, somewhat of a given between a preliminary report and a final. I don’t see any significant movement other than Class 9, which we called out in the declaration.”

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3 hours ago, RememberSchiff said:

Lawyer jokes on Martin Luther King Day? Lets get back on topic. Thanks  RS

MLK was a minister.  But fair enough.  

Edited by fred8033
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20 hours ago, yknot said:

I suppose it's not impossible that this is due to Covid.  So many things are getting cancelled/postponed right now. 

Another possibility is the weather.  They were calling for winter storms that could affect safe travel/driving in Delaware.

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6 hours ago, RememberSchiff said:

Lawyer jokes on Martin Luther King Day? Lets get back on topic. Thanks  RS

 

2 hours ago, fred8033 said:

MLK was a minister.  But fair enough.  

 

In NH, MLK Day was called Civil Rights Day to commemorate the movement (leaders, protests, activists, victims, lawyers,..) beyond one man. NH eventually called today MLK but some think of the civil rights movement today. That was the reference.

Sorry for the confusion, now back to our topic - RS

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59 minutes ago, RememberSchiff said:

In NH, MLK Day was called Civil Rights Day to commemorate the movement (leaders, protests, activists, victims, lawyers,..) beyond one man. NH eventually called today MLK but some think of the civil rights movement today. That was the reference.

Sorry for the confusion, now back to our topic - RS

Ummm ... You can't keep on commenting after deleting other people's posts.  Time to delete your own.  

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