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.

[clbkbx]

6 hours ago, MYCVAStory said:

the Trustee has 250 IRO claims she can send to trial

Is there anyone other than the Trustee that would know how many of these cases meet the criteria to send to trial? 

[MYCVAStory]

18 hours ago, clbkbx said:

Is there anyone other than the Trustee that would know how many of these cases meet the criteria to send to trial? 

That appears to be subjective on the part of the Trustee.  My hunch, and it's only that, that cases where there was ample notice (abuser was known to the BSA prior) and the covering insurance company has a lot of primary liability for coverage, would be ripe for release.

[MYCVAStory]

Insurer's first attempt at getting the Trust's suit against them tossed has been denied: USCOURTS-txnd-3_23-cv-01592-0.pdf  Essentially, the insurers started playing their delay game and asked for the lawsuit to be moved to Illinois.  The court has said "nice try, but no."  So, it's a victory.  BUT, expect there to be an apeal of this and any decisions unfavorable to the non-settling insurers.  They are masters at delay and even with a trial moving forward it will be years until any resolution.  This is a time value of money exercise and insurance attorneys are masters at delaying procedures so their employers hold onto their assets as long as possible.  Still, let's appreciate any victory no matter how small, and hope some insurance CEOs start thinking "Okay, the cost of litigating this is starting to cost more than settling."

[GHamm]

Are there any updates on the Slater client pause? 

[Patt_00]

42 minutes ago, GHamm said:

Are there any updates on the Slater client pause? 

I fired the Slater firm back in October and retained Larry Friedman and Tim Silverman as new council. I received my claim determination a little over a week ago. I've spoken to a numb of other survivors over the past week that also fired Slater and hired Larry and Tim. They also have received claim determinations as well. 

All of us still had to be vetted by the independent neutral even though we retained new council. I believe hiring Larry and Tim had a lot to do with our claims starting to be determined over the past week.

[Patt_00]

I want to give an update on the Trust Claim submissions by the Slater firm. I spoke to my attorney Larry Friedman. The 3rd party neutral which Slater claims must pass through before they can proceed to the Trust for evaluation is identifying inconsistencies between survivors Omni Proof of Claims and their Trust Claim questionnaires. Larry and his teams work has found MOST of these are the result of extremely sloppy work by Slater attorneys when preparing their clients documents.

A little over a month ago, I received an AIR (additional information request) from the Trust. This was due to sloppy work by Slater attorneys. Larry submitted the information that was requested on my behalf and less than 30 days later I received my award determination. I am ecstatic with my claim determination and have submitted my acceptance package. 

Even this late in the process survivors represented by Slater, past and present,  should have a qualified professional helping them respond to Trust AIR's. If anyone would like Larry's contact info, I would be happy to provide it.

I'm sure everyone is aware that Slater is placing liens on their former clients awards. Larry and the Trust are putting in a process to escrow the attorney fees needed to satisfy the liens. This means the 36% of our claims Slater is putting a lien on will be held in an interest bearing escrow account and the remaining 64% can be distributed to survivors. This way the Trust can continue processing and paying claims to Slater clients.

Edited 7 hours ago by Patt_00