Chapter 11 announced - Part 14 - Plan Effective

[MYCVAStory]

1 hour ago, johnsch322 said:

The case has been filed in Texas Federal Court, Houser vs the Non-Settling Carriers.  I believe there are 82 carriers involved.

Newly Retired U.S. Judge Lynn Will Mediate Huge Boy Scouts Insurance Dispute - The Texas Lawbook

it's going to take YEARS.  This is a time value of money proposition for the insurers.  Delay is in their interest because they make money on the assets they hold.  Assigning a mediator sounds nice but they'll never mediate an agreement that would be painful for the insurers and good news for Survivors.

[MYCVAStory]

7 minutes ago, BadChannel70 said:

This is the most recent order from the Texas judge. Combined with today's SCOTUS denial, I do believe the pressure is building on these insurance carriers.

 

I'd like to agree but I think this is just standard briefing.  The insurers will assert their rights and say that their policies allowed the investigation of every claim, something the Trust did instead, but doesn't bind an insurer.  It would be a VERY bold step for a Judge to tell the insurers to pay up, and if they did it would be appealed in minutes.  Again, the Trustee has 250 IRO claims she can send to trial and start to inflict pain on the insurers.  Awards beyond the IRO amount then go to the "general fund" to serve all claimants.  But, repeated losses (Juries tend to side with Survivors), would give the insurers real reason to cut deals.

[MYCVAStory]

The trust has issued a statement.  Why the Trustee hasn't used all this time to determine the next payout percentage is a head-scratcher.  Perhaps a "town hall" will be called soon.  Statement here: Salesforce

[swilliams]

10 minutes ago, MYCVAStory said:

I'd like to agree but I think this is just standard briefing.  The insurers will assert their rights and say that their policies allowed the investigation of every claim, something the Trust did instead, but doesn't bind an insurer.  It would be a VERY bold step for a Judge to tell the insurers to pay up, and if they did it would be appealed in minutes.  Again, the Trustee has 250 IRO claims she can send to trial and start to inflict pain on the insurers.  Awards beyond the IRO amount then go to the "general fund" to serve all claimants.  But, repeated losses (Juries tend to side with Survivors), would give the insurers real reason to cut deals.

Do you have any guesses as to why she hasn't done this?  Is there any benefit at all?  It doesn't sound like there is, from what you've posted here, so I wonder what the reasoning is.

[MYCVAStory]

18 minutes ago, swilliams said:

Do you have any guesses as to why she hasn't done this?  Is there any benefit at all?  It doesn't sound like there is, from what you've posted here, so I wonder what the reasoning is.

No idea but it's the question I'd ask if there's another Town Hall.  I hope others will as well.