About BSA Chapter 11
The "Plan," known as the Fifth Amended Chapter 11 Plan of Reorganization, outlines the terms and conditions for BSA and other involved parties to provide cash and assets. These resources are designated to compensate valid childhood sexual abuse claims filed against BSA and certain related parties. Additionally, the plan includes details on how the settlement trust or trustee will distribute funds and assign values to individual cases, ensuring a fair and structured process.
As part of the Plan, the Settlement Trust was established to oversee and manage the Abuse Claims filed in BSA's Chapter 11 Case, as well as any covered Abuse Claims directed to be held and administered by the Settlement Trust. Its primary responsibilities include evaluating, processing, and resolving eligible Abuse Claims. Additionally, the Settlement Trust will handle other assets such as promissory notes payable to the Trust, liquidation of assets transferred under the Plan, and enforcement of rights under BSA's insurance policies and those of other related parties. This is done with the aim of obtaining coverage and payment for valid Abuse Claims or converting insurance rights into cash for the benefit of those holding valid Abuse Claims.
The Settlement Trust is currently unable to provide an exact timeline for when it will commence with the initial/interim payments or distributions to those with valid Abuse Claims. However, the Trustee and Claims Administrators are fully committed to expediting the processing and payment of these claims. Several factors influence the Trust's ability to administer and fulfill the Abuse Claims in their entirety.
To ensure a thorough evaluation of your Abuse Claim, the Trustee and Claims Administrators are diligently working to prepare the Claims Questionnaire and review any previously submitted information from you or your attorney. Once all the necessary information is received, the Trustee and Claims Administrators will begin evaluating your Abuse Claim. Following the determination of the amount you are entitled to receive, the Settlement Trust will initiate the process of making initial payments. Rest assured, every effort is being made to expedite this process.
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