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Chapter 11 Announced - Part 10 - Post Confirmation Hearing/Judges Ruling


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11 minutes ago, ThenNow said:

Interesting ... perhaps the judge was reading scouter.com. :) 

5 hours ago, fred8033 said:

I can't think of any direction this will go that won't lead to huge frustration for many.  If any part of this bankruptcy moves forward, this will be a long cycle of multiple appeals.  It's one reason I always thought it would end with a BSA only bankruptcy with other cases pursuing insurance, LCs and COs.  ... I never thought it would get this far.  ... Not the first time I've been wrong in my life. 

In terms of multiple appeals, I think it really is pretty simple.  If the bankruptcy court approves the case, it will go to district court.  However, the plan will start implementing.  If district court wants to stop the plan, they actually have to act fairly fast.  If it takes them a year+ to review, most issues will be moot (basically, it will be too late to make much of an impact).  So, I think we will know pretty quickly if the bankruptcy is over for BSA.  Yes, there could be issues within the trust in the future, but I expect it won't take too long (perhaps a few months) to see if district is going to reject the plan.

13 hours ago, MYCVAStory said:

Lastly, she can call in some parties to suggest her direction and see if they can cure a conflict prior to the final ruling.  But at this date, unless it''s happened and we don't know, it's probably past that.

I'm expecting she either approves or has a very detailed rejection that essentially approves everything but a section or two (that can be cured by BSA).  I saw a recent ruling Gulf Coast Health which was rejected due to overly broad releases (the judge indicated she would have approved the plan with narrower release language).  Note that case was also in Delaware.  

The areas I thought Judge Silverstein was most concerned was the release language and the TDPs.  I'm not sure how she handles this (perhaps she can still approve but in her ruling emphasize how she came to approve).  

I do think if she was going to outright reject the plan we would have seen that by now.

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A friend contacted me privately, concerned I've not been posting. He knows I am on all the hearings and was checking in on me. Honestly, Eagle1993 does such an excellent job I had little to add. My at

Thanks for mentioning that.  Probably a good time for me to pop back up.  I just want to say thanks to everyone who participates on this and other forums (Fora?).  I take my role on the TCC seriously

I hope you find some peace.  For me, the start of the bankruptcy and having to address the abuse again was difficult. But, I went back to therapy and found some other people with similar experien

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7 minutes ago, InquisitiveScouter said:

Estimates as to how long BSA can last on life support waiting for a Chapter 11 confirmation?  What do the tea leaves say about the imminence of Chapter 7?

Depends on how many Bitcoins the foundation was invested in.  

I think the BSA will stay in Ch 11 as long as the current plan is on the table.  They have the liquidity and the foundation will back them up for a few months if needed.

The real danger to BSA if this plan is outright rejected (either by the bankruptcy court or fairly quickly by district).  In one of the hearings, BSA lawyers indicated the foundation will only loan BSA $ if they are out of bankruptcy.  If the foundation sees the CH11 plan rejected, I wouldn't be surprised if they decide they need to save their $ for future BSA and let the current instance burn to the ground in Ch 7.

Just a guess from the hearings and looking at their financials.  BSA said by end of summer, my guess is they can last longer but not long enough to start a new plan from scratch.

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Possibly only relevant to my musings on the state of play, but as fate would have it, NESA was born 50 years ago today and 50 since I joined Scouts. “What a long, strange trip it’s been.” And how.

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On 5/19/2022 at 11:52 AM, Eagle1993 said:

Depends on how many Bitcoins the foundation was invested in.  

I think the BSA will stay in Ch 11 as long as the current plan is on the table.  They have the liquidity and the foundation will back them up for a few months if needed.

The real danger to BSA if this plan is outright rejected (either by the bankruptcy court or fairly quickly by district).  In one of the hearings, BSA lawyers indicated the foundation will only loan BSA $ if they are out of bankruptcy.  If the foundation sees the CH11 plan rejected, I wouldn't be surprised if they decide they need to save their $ for future BSA and let the current instance burn to the ground in Ch 7.

Just a guess from the hearings and looking at their financials.  BSA said by end of summer, my guess is they can last longer but not long enough to start a new plan from scratch.

If this Judge confirms plan how likely is the district court to confirm it?Al's the upcoming hearing could you explain what it's about.I tried looking it up but I'd have better luck reading Japanese.

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On 5/21/2022 at 7:29 PM, PaleRider said:

If this Judge confirms plan how likely is the district court to confirm it?Al's the upcoming hearing could you explain what it's about.I tried looking it up but I'd have better luck reading Japanese.

I don't think anyone can lay the odds, but I would say better chance of approving than not. I believe the Notice of Agenda Matters landed today. I'll see if I can find a few to review. That rhymed. It is usually in English, but you need a special incandescent bulb to decipher the legal lemon juice. 

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40 minutes ago, ThenNow said:

I don't think anyone can lay the odds, but I would say better chance of approving than not. I believe the Notice of Agenda Matters landed today. I'll see if I can find a few to review. That rhymed. It is usually in English, but you need a special incandescent bulb to decipher the legal lemon juice. 

You a poet and didn't know it. Thank you

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It's good to see we still have humor after what we have endured for so long. Especially after seeing the true colors of the National office.Speaking for myself I guess humor and laughter is what's kept me from going insane.✌️🙏

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Univ. Of Calif.'s $375M Deal Brings Abuse Payments To $700M

The University of California system unveiled an additional $374.4 million for more than 300 individuals who say they were abused by a former UCLA Health gynecologist, bringing the total amount in settlements with alleged victims to nearly $700 million.

What's that per person? Oh yeah. $2.33M and change. Nice. 

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1 hour ago, ThenNow said:

Univ. Of Calif.'s $375M Deal Brings Abuse Payments To $700M

The University of California system unveiled an additional $374.4 million for more than 300 individuals who say they were abused by a former UCLA Health gynecologist, bringing the total amount in settlements with alleged victims to nearly $700 million.

What's that per person? Oh yeah. $2.33M and change. Nice. 

It's amazing what billion or trillion dollar endowment funds will do for you when it comes to self-insuring.

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52 minutes ago, elitts said:

It's amazing what billion or trillion dollar endowment funds will do for you when it comes to self-insuring.

Sure,you won't have to worry about your bills or providing.But all the world's gold won't take my nightmares away or give me back the past 40 years.This isn't an argument towards you or anyone else,just my thoughts.✌️

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54 minutes ago, elitts said:

It's amazing what billion or trillion dollar endowment funds will do for you when it comes to self-insuring.

At $691B in endowments total across US, that's a heck of a lot of moolah.

https://nces.ed.gov/fastfacts/display.asp?id=73#:~:text=At the end of fiscal,the total was %24675 billion.

And at $41B endowment, Harvard is richer than about 66 countries in the world...

https://en.wikipedia.org/wiki/List_of_countries_by_total_wealth

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5 hours ago, ThenNow said:

Anyone else having trouble getting on the Zoom hearing? It's never happened to me before this.

Did you get on?  There was a bit of a delay in their admitting people to the hearing today.

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