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TCC CASE UPDATE - PLEASE READ


As many of you know, the Bankruptcy Court finished the plan confirmation hearing (which considered the approval of the Plan of Reorganization proposed by the Boy Scouts). The confirmation hearing took place over twenty-two days, included thousands of pages of evidence, and many hours of testimony from over twenty witnesses.

The Tort Claimants’ Committee is aware that many Survivors would like to have another Town Hall. At this time, the Tort Claimants’ Committee does not have anything to report. Given the amount of information that the Bankruptcy Court has to consider, it could take some time before the Bankruptcy Court issues her decision over the Plan of Reorganization.

 

The Tort Claimants’ Committee does not know when the Bankruptcy Court will publish her decision about the Boy Scout’s Plan of Reorganization. The Tort Claimants’ Committee will not have anything to report until the Bankruptcy Court publishes her decision. The Tort Claimants’ Committee does not want to guess or speculate when the Bankruptcy Court will issue her decision or how she will rule. It is best to wait until a decision is entered before scheduling the next Town Hall.

 

The Tort Claimants’ Committee will not email notice of the next Town Hall.  Instead, please check back here regularly for the scheduling of the next Town Hall and other updates.
 
All other general questions can be emailed to: tccquestions@pszjlaw.com.

Zoom link: https://pszjlaw.zoom.us/j/82272826295 (no registration required) 

or by phone: 888-788-0099 (toll free), Webinar ID: 822 7282 6295

The last Town Hall was held on Thursday, March 3, 2022

Trust Distribution and Independent Review Process

For your convenience, the above 50-minute video has been broken down in time stamps below:


00:00 - General Overview
04:00 - Three Paths to Have Your Claims Reviewed
05:11 - Electing the $3500 Expedited Distribution
08:00 - Flow Chart and Trust Claim Process Overview
15:46 - Application of Claims Matrix and Scaling Factors
24:00 - Reconsideration of Trust Claim ($1000 admin fee)
27:30 - Flow Chart for Independent Review
28:55 - Overview of Independent Review
32:00 - Independent Review Process
35:20 - Requirements for Independent Review
39:45 - Administrative Fee for Independent Review
43:45 - Questions and Conclusion

TORT CLAIMANTS COMMITTEE RECOMMENDS THAT SURVIVORS WHO REJECTED THE BOY SCOUTS PLAN CHANGE THEIR VOTE TO ACCEPT THE REVISED AND IMPROVED BOY SCOUTS PLAN

The Official Tort Claimants Committee (TCC) in the chapter 11 bankruptcy of the Boy Scouts of America (BSA) urges Survivors to vote to ACCEPT the BSA’s Revised Plan. If you are represented by counsel and voted to reject the plan, the TCC recommends that you contact counsel to discuss the TCC’s recommendation to vote to accept the BSA’s Revised Plan.

 

Following weeks of mediation after the voting deadline passed, the Plan has been revised to address the TCC’s main concerns and now presents the best alternative for recovery for the largest number of Survivors.  Survivors who voted to reject the Plan empowered the TCC and the TCC thanks you for entrusting it with your confidence. 

 

The Revised Plan resolves the TCC’s concerns regarding the following principal issues:

 

  • Youth Protection – BSA will implement material changes to its Youth Protection Procedures to help ensure no further abuse and to provide better transparency into the oversight of the children in BSA’s scouting programs. Over fifteen material changes to the Youth Protection Procedures include: (a) hiring a Youth Protection Executive who has extensive experience in prevention of childhood abuse; (b) formation of a Youth Protection Committee composed of Survivors, nominees of survivors that have experience in Youth Protection, BSA, Local Councils, and Chartered Organizations: (c) an update of existing policies (e.g., overnight stays, criminal background checks, consolidate practices and procedures); (d) procedures to disclose of information in Volunteer Screening Database, and (e) prospective reporting regarding abuse.
     

  • Settlement Trust - The current Plan includes approximately $2.7 billion. There are more than 15 insurance companies and many Chartered Organizations that have not settled. The revised structure of the Settlement Trust creates a path to maximize recoveries from non-settling insurance companies and Charter Organizations and increase your compensation.
     

  • Independent Settlement Trustee and Claims Administrator - The Settlement Trust will be administered by individuals selected by the Settlement Trust advisory board described below.
     

  • Independent Trust Governance – The Settlement Trust will have an advisory board of seven members. Three members selected by the TCC, three members selected by the Coalition, and one member selected by an unaffiliated group of objecting Survivors. The advisory board will be well balanced to help ensure that Survivors have a meaningful voice in the administration of the Settlement Trust.
     

  • Modified Trust Distribution Procedures - The Trust Distribution Procedures (TDP) used to value and pay your claim have been modified. The modified TDP will provide for an alternative review process that is designed to allow Survivors to seek a valuation of the claim that exceeds the maximum values in the TDP claims matrix.  Survivors also will be able to opt-out of the TDP to pursue claims against certain parties in state court.
     

  • Releases have been narrowed - The overbroad releases under the prior plan have been narrowed.  Under the narrowed releases, a Survivor can sue a Chartered Organization that has not contributed to the Settlement Trust or is not covered by an insurance policy issued by a settled insurance carrier after the expiration of the temporary injunction issued after the plan is approved. The narrow releases create more potential value because these Chartered Organizations can be sued by you and that pressure can cause them to make a financial contribution to the Trust and increase distributions to Survivors.

 

HOW DO I CHANGE MY VOTE?

  • If you voted by direct ballot, email:  bsaballots@OmniAgnt.com and ask for a new ballot. Provide your name, claim number, date of birth, and last four digit of your social security number.

  • If you voted through your attorney, please contact your attorney and have your attorney resubmit your vote to the Voting Agent at Omni.

  • Your new ballot must be received by March 7, 2022 at 4:00 p.m. (Eastern Time).

  • If you have questions, please contact:  tccquestions@pszjlaw.com

 

Important Dates and Upcoming Hearings

Links to hearings via Zoom will be listed here as soon as the Bankruptcy Court issues them, which is generally two days before the hearing.

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Plan, Disclosure Statement, TCC Presentation on Solicitation and Ballots, and TCC Letter

 

Links to Documents and Websites

 

Now that the Bankruptcy Court has approved the Disclosure Statement, survivors will have the opportunity to vote whether to reject or accept the Plan. Each survivor's decision as to how to vote on the Plan is THEIR OWN DECISION; the decision cannot be made for them by their attorneys. Survivors may receive ballots directly or the ballots may be received by their counsel (if they retained counsel) on their behalf.