Chapter 11 announced - Part 14 - Plan Effective

[Eagle1993]

14 hours ago, clbkbx said:

Just passed the five-months-from-oral-arguments that the Trustee’s indicated was the average time for a ruling from the Sixth Circuit. 
 

https://scoutingsettlementtrust.my.salesforce.com/sfc/p/#Dp0000016pkB/a/Uu000002c92j/T9hQYKF8KkVWWap2jPhb24vEUq0JduWSxLZZcZOAydk

I wonder if the length of time indicates which way they are leaning.  

[clbkbx]

On 4/3/2025 at 3:53 PM, clbkbx said:

April 1 update: average $534,599 per TDP claim.

May 1 update: average $557,053 per TDP claim.

• For the TDP, 47% claims determined and 25% paid (14,285 paid, 58,103 claims)
• For the IRO, 20% claims determined and 6% paid (14 paid, 217 claims) 

If the Trust were to stop here, just based on claims paid amounts (not determined), they would need just shy of $8B. I think that is getting near the max amount if all insurance companies settle. 

The average claim has increased each month (from last month, an increase of 4.2%, so above the COLA which I don't believe was applied the entire month). The COLA incurred to date (based on paid claims) is $190MM, but likely none of that will be realized in any way, it's just going through the motions. 

[RememberSchiff]

On 4/6/2025 at 1:36 PM, RememberSchiff said:

The LA abuse settlement still needs to be approved by both the county claims board and county supervisors, is a billion dollars more than what county officials had anticipated as the worst-case scenario to resolve a flurry of lawsuits — and far more than other organizations notorious for allowing unchecked sex abuse have paid victims.

Much more at source:

https://www.latimes.com/california/story/2025-04-04/in-unprecedented-payout-l-a-county-settles-sex-abuse-claims-for-4-billion

Update April 29, 2025: LA County Supervisors approved settlement which become the largest abuse settlement in US.

https://www.cbsnews.com/losangeles/news/la-county-unanimously-approves-4-billion-sexual-abuse-settlement/

Edited May 5 by RememberSchiff

[SNEScouter]

The Third Circuit has ruled.  Some seemingly minor changes to parts of the plan affecting insurers, but the appeals of Dumas & Lujan claimants are dismissed entirely.  

https://www2.ca3.uscourts.gov/opinarch/231664p.pdf

Media report: https://www.courthousenews.com/third-circuit-rejects-sex-abuse-victims-appeal-of-boy-scouts-bankruptcy-deal/

[Eagle1993]

Sent on behalf of Alison Schuler, Chair of the Bankruptcy Task Force and National Executive Board Member, and Joseph Zirkman, Executive Vice President and General Counsel of Scouting America.

 

Today, the United States Court of Appeals for the Third Circuit dismissed the widest ranging appeals of the Bankruptcy Court’s plan confirmation order, which were filed by a small group of dissenting claimants and holdout insurance companies. The Court’s decision is a resounding victory for survivors of historical abuse in Scouting, and it is the culmination of more than five years of tireless efforts by survivors, Scouting America, Local Councils, Chartered Organizations, settling insurance companies, and other stakeholders to equitably compensate survivors and preserve the mission of Scouting.

 

By dismissing these appeals, the Court has assured survivors that the Settlement Trust established under BSA’s plan can continue its essential work of providing financial compensation to survivors. The overall settlement fund for abuse claims is valued at $2.4 billion with the opportunity for additional contributions by numerous other parties, including the BSA’s insurers that have not yet settled. Since it was established in April 2023, the Trust has distributed more than $138 million to approximately 20,000 survivors. Today’s decision ensures that the Trust’s work can continue without interruption.

 

The decision also ensures that the organization can continue its mission of preparing young men and women to become responsible, participating citizens and leaders guided by the Scout Oath and Law. On February 8, 2025, on its 115th anniversary, the organization officially became Scouting America, reflecting its ongoing commitment to welcome every youth and family in America to experience the benefits of Scouting. More than a million young men and women currently participate in Scouting America’s programs, affirming the importance of Scouting and its values-based programs to American life.

 

Yours in Scouting,

 

Alison Schuler

Chair of the Bankruptcy Task Force and National Executive Board Member

 

Joseph Zirkman

Executive Vice President / General Counsel