Jump to content

Chapter 11 Announced - Part 8 - TCC Term Sheet & Plan Confirmation


Recommended Posts

9 hours ago, skeptic said:

May be an image of text that says 'Sometimes I just want someone to hug me and say, say "I understand your pain. It's going to be okay, here's a coffee and Two million dollars." 下EIT'

This is going into my presentation to the Settlement Trustee or Neutral. We can adjust the figure for inflation. 

Link to post
Share on other sites
  • Replies 388
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

I have been reading this blog for months and finally decided to express how I feel about this plan.  I have always and continue to believe there are thousands of fraudulent sexual abuse claims filed i

My bet? We’ll never know. They will quietly sneak off the trail via the $3500 spur and go their merry way. There will be valid survivor claimants that exit stage left, as well, not wanting to deal wit

Not really true. I never bought a ticket I was a victim I had no choice.

Posted Images

13 minutes ago, RandomScouter said:

And then I wonder, When is @ThenNow going to start billing them for his hours?  ;) 

From your post to JLSS ears. BUT, the payments must come from the people doing the billing and they can't turn around and pass it through to the Debtors' estate. Strike that. I want the Coalition to pay me, and a round for all my friends! C'mon boys (and gals)...!

Link to post
Share on other sites

First one to read and give a full report receives that old OA pocket patch I've been raving about. Enjoy all four hundred and twenty-four pages of it. 

DEBTORS’ (I) MEMORANDUM OF LAW IN SUPPORT OF CONFIRMATION OF THIRD MODIFIED FIFTH AMENDED CHAPTER 11 PLAN OF REORGANIZATION FOR BOY SCOUTS OF AMERICA AND DELAWARE BSA, LLC AND (II) OMNIBUS REPLY TO PLAN CONFIRMATION OBJECTIONS

84842171_BSA-ConfirmationBrief-D.I.9114.pdf

  • Thanks 1
Link to post
Share on other sites
1 hour ago, ThenNow said:


At the center of this bankruptcy approach to mass tort resolution is the idea of the future claims representative (the "FCR"), a court-appointed agent named to represent then-nameless, faceless future victims of claimed tortious acts already committed by the corporate debtor.

https://www.chapman.edu/law/_files/publications/CLR-3-frederick-tung.pdf

What is definition of "future victims"?  With bankruptcy as a point of time... 

  • Is FCR for victims of future crimes?  I'm assuming no because their damages would be paid for the future company (aka the new BSA) and future insurance ... or what replaces them.  
  • Is FCR for victims of past crimes that submit claims after the bankruptcy deadline?  
    • Complexity in mix of bankruptcy debt settlement versus class action like handling.  
    • Say the generic "Erin Brockovich" idea or the Mesothelioma idea.  The award is made.  Some victims are up front and others identified and supported later thru the trust.  The representation didn't really start getting paid until award was made.  
    • With this, millions are paid to legal representation in-advance for work toward a damages settlement before victims get an award.  This is a dark grey area of work that advances the settlement.  
    • I fear many of those victims would still want representation to submit their request to the trust.  So then, fees are pulled by current FCR representation and contingent award fees pulled by a future representation.  

I'd really like to know if work (aka cost) is being worked on an hourly basis that really should be part of earning a contingent fee. 

Feels like a real mess that enables billing and fees without a balanced consideration for the victim.  

Edited by fred8033
Link to post
Share on other sites
7 minutes ago, fred8033 said:

What is definition of "future victims"?  With bankruptcy as a point of time... 

The problem of "future claimants"' plagues the resolution of mass tort bankruptcies.2 Mass tort injuries, such as those caused by asbestos exposure, can entail long and variable lag times between the exposure to a harmful product and the resultant harm? As a result, some claimants may be unaware of their injury at the time of a company's bankruptcy reorganization.' Moreover, the total number and magnitude of future claims is subject to great uncertainty Any resolution of mass tort claims in bankruptcy (or via the legislative creation of a mass tort trust fund)6 must ensure a "fair distribution" for these ill-defined future claimants-an exceedingly difficult task.'

https://openyls.law.yale.edu/bitstream/handle/20.500.13051/4945/Protecting_Future_Claimants_in_Mass_Tort_Bankruptcies.pdf?sequence=2

Edited by ThenNow
  • Upvote 1
Link to post
Share on other sites
4 minutes ago, ThenNow said:

The problem of "future claimants"' plagues the resolution of mass tort bankruptcies.2 Mass tort injuries, such as those caused by asbestos expo- sure, can entail long and variable lag times between the exposure to a harm- ful product and the resultant harm? As a result, some claimants may be unaware of their injury at the time of a company's bankruptcy reorganiza- tion.' Moreover, the total number and magnitude of future claims is subject to great uncertainty Any resolution of mass tort claims in bankruptcy (or via the legislative creation of a mass tort trust fund)6 must ensure a "fair distribution" for these ill-defined future claimants-an exceedingly difficult task.'

https://openyls.law.yale.edu/bitstream/handle/20.500.13051/4945/Protecting_Future_Claimants_in_Mass_Tort_Bankruptcies.pdf?sequence=2

Well understood. 

I'm just not read-up on mass torts where the lawyers are paid up front by the defendant before the award.  I'm sure it happens as bankruptcy is used to address unresolved liabilities.  ...  It just feels weird ... or a great business to be in.

Edited by fred8033
Link to post
Share on other sites
10 minutes ago, fred8033 said:

I'm just not read-up on mass torts where the lawyers are paid up front by the defendant before the award.  

I think I said something to this effect long ago at my point of entry into this Scouter.com universe. The whole thing feels like kids doing heart surgery with garden tools in a tree house at the rate of $1000 per hour per kid. All the neighborhood kids are lined up around the block to climb the rope ladder and get in on the action. (This assessment is not my logical brain speaking, rather the lizard part. I understand the complexity, it just feels utterly ridiculous and immoral.)

Edited by ThenNow
  • Like 1
  • Upvote 2
Link to post
Share on other sites

Related, but peripheral to the topic.  I found myself wondering how James E. West might have reacted to this whole mess today.  If some may not know, West came from an orphanage and had physical issues.  But he baecame a lawyer and was an early player in the legal protection efforts of children.  Much of his work was based on his own childhood and experiences in the "system".  

And, while in many ways, West was difficult and dogmatic, I have to think he would have been on the right side of this mess given the changes in society since his death.  Just a thought.  

  • Upvote 1
Link to post
Share on other sites

So...Future Claims representative....  this person represents the interests of claimants that have not already come forward but have legal recourse to do so at a later date.  Yes, it's one of those bankruptcy things that make you say "So he's billing on behalf of clients he doesn't have yet?"  Yes.  In the case of this bankruptcy an example would be claimants who at a later date will claim that they were suffering from repressed memory and now that they are conscious of their abuse they want to file a claim.  That is a legal argument that is accepted in some States but must be proven and can't just be a doodge because you missed a deadline.  So, the FCR attends all mediation, files motions and objections, and just basically representes the interests of yet-to-be identified Survivors.  As well, the Trust will have to hold back some money for a period of time "just in case" and yes, the FCR gets to keep billing until that period runs out.  At that point it goes back into the trust  Don't shoot the messenger.  I've added FCR to my career choices when I'm reincarnated.  You get to be a lawyer, and bill, without all those pesky clients to deal with.   Unbelievable.  There has to be a better way.

From my attorney:

You are receiving this weekly email as a  client to provide you with a reminder for tonight's Boy Scouts of America Town Hall Meeting.
 
Please find below the Zoom Information for Tonight's TCC Town Hall Meeting at 8PM. 
(Eastern Time):
  • Zoom: https://pszjlaw.zoom.us/j/82272826295 (no registration required)
  • Dial-In by Telephone: 888-788-0099 (Toll Free), Webinar ID: 822 7282 6295. If asked for a “Participant ID,” just press #
In addition, video recordings and transcripts of the town halls can also be found on the Tort Claimants' Committee's website : https://www.tccbsa.com if you are unable to attend tonight's meeting.
Link to post
Share on other sites
2 hours ago, skeptic said:

Related, but peripheral to the topic.  I found myself wondering how James E. West might have reacted to this whole mess today.  If some may not know, West came from an orphanage and had physical issues.  But he baecame a lawyer and was an early player in the legal protection efforts of children.  Much of his work was based on his own childhood and experiences in the "system".  

And, while in many ways, West was difficult and dogmatic, I have to think he would have been on the right side of this mess given the changes in society since his death.  Just a thought.  

I am a little confused by what you are saying is the "right side".  James E West was the Chief Scout Executive from 1911 to 1943 and would have definitely known of the creation of the "perversion files" and it was under his direction that everything was to be kept hidden. Soo what is the "right side" he would be on?  

Link to post
Share on other sites
34 minutes ago, johnsch322 said:

I am a little confused by what you are saying is the "right side".  James E West was the Chief Scout Executive from 1911 to 1943 and would have definitely known of the creation of the "perversion files" and it was under his direction that everything was to be kept hidden. Soo what is the "right side" he would be on?  

Stop trying to evaluate things out of context.  The entire perception of these things was different back then.  Yes, he actually was instrumental in the IV files, which was a step in the right direction based on the era.  I suspect that given today's systems and information, Mr. West might well have been pushing for major changes and protections now recognized.

Secondly, stop calling them the perversion files please.  That is not what they are called, nor are many of them remotely related to "perversion".   It is like the corruption of the ACA to the Obama Act.  It is misleading and distorts the overall picture or meaning.  

This hyperbolic exaggeration and lack of understanding how society affects things is simply foolish.  

Edited by skeptic
Link to post
Share on other sites
48 minutes ago, skeptic said:

Stop trying to evaluate things out of context.  The entire perception of these things was different back then.  Yes, he actually was instrumental in the IV files, which was a step in the right direction based on the era.  I suspect that given today's systems and information, Mr. West might well have been pushing for major changes and protections now recognized.

Secondly, stop calling them the perversion files please.  That is not what they are called, nor are many of them remotely related to "perversion".   It is like the corruption of the ACA to the Obama Act.  It is misleading and distorts the overall picture or meaning.  

This hyperbolic exaggeration and lack of understanding how society affects things is simply foolish.  

Soo it is perfectly OK if you depict survivors as Peanuts characters looking for a handout but calling the perversion files as they are known today wrong?

I would bet donuts for dollars you don't give an answer.

Edited by johnsch322
  • Sad 1
Link to post
Share on other sites
2 hours ago, MYCVAStory said:
You are receiving this weekly email as a  client to provide you with a reminder for tonight's Boy Scouts of America Town Hall Meeting.
 
Please find below the Zoom Information for Tonight's TCC Town Hall Meeting at 8PM. 

This has to be wrong. It’s Thursday. Please tell someone not to further tilt the axis of my universe. I’m far enough out of balance as it is! ;) 

Link to post
Share on other sites
59 minutes ago, johnsch322 said:

Soo it is perfectly OK if you depict survivors as Peanuts characters looking for a handout but calling the perversion files as they are known today wrong?

I would bet donuts for dollars you don't give an answer.

I don't see it as a handout.We earned every cent coming to us.Saying looking for a handout makes it seem that we tellings lies for the purpose of getting free money. WE EARNED THIS MONEY. This isn't me trying to argue,it's nothing less than being honest about this whole  rat race.✌️ 

Edited by PaleRider
Link to post
Share on other sites
Guest
This topic is now closed to further replies.
×
×
  • Create New...