Will he never go away (nassar trigger warning)

[Doug1233]

So the settlement was finalised and signed-off by a judge.

Looks like 330 victims. And a 380M package.

My horrible lawyer brain tells me it’s 1M each per gymnast, plus 50M for Manly…

 

[JaJa]

Where are you getting $50M for Manly from?. The attorney’s fee ordinarily comes off the top. Did the settlement agreement say otherwise? So about $126M divided somehow amongst the attorneys – not all the athletes are represented . Its not just Manly, although he gets the lion’s share. I am not sure what the actual agreement said though.

 

[Doug1233]

So about $126M divided somehow amongst the attorneys

Are you assuming that Manly will get a third, based on anything concrete - or just market rate/convention?

I can’t imagine how he’s done anything worth 120M.

 

[JaJa]

Are you assuming that Manly will get a third, based on anything concrete - or just market rate/convention?

I can’t imagine how he’s done anything worth 120M.

Actually, you are probably closer to the correct number than I was. Around 30 % would be how attorney’s fees are calculated in regular contingency fee cases. Now, because this is in B Court the fees get calculated differently. And the % decreases as the award goes up even in an ordinary contingency fee case. Anyway, in B Court lawyers can calculate fees but have to meet a reasonable value standard. I think since its B Court they could actually use an hourly rate to come up with a number OR a contingency fee. But there is for sure more scrutiny than in an ordinary contingency fee case.

 

[Doug1233]

I did hear that each victim was going to get one million. Have no evidence to back that up though.

That’s how I calculated Manly’s residual fifty.

 

[JaJa]

I just calculated the plaintiff attorney’s fees based on the NY Civil Practice Law & Rules, which is clearly not applicable here but could be used to estimate a “reasonable fee.” Its even lower than your number, around $38 Million.

 

[Doug1233]

Could the spare 12 go on something else other than direct to the victims? Other costs fees expenses (taxes??) etc

For example, did they use a mediator or arbitrator for any portion of the settlement?

Presumably there’s court costs, the insurance lawyers fees etc etc

 

[JaJa]

Look, it will be a good pay day for Manly. Whatever number they all agreed on and B Court approved.

 

[Doug1233]

Will the settlement doc ever be made public?

 

[JaJa]

Costs would come off the top I assume or in this case just be built into the agreement.

 

[Doug1233]

Based on the “one million each” rumour, it would make sense for the 380 for 330 victims, and the balance to go on Manly and other costs/lawyers.

 

[JaJa]

As far as the reasonableness of the fee – remember the things the court will take into account include the expertise of the lawyer – which is considerable in Manly’s case and the probability of a lengthy and difficult litigation if the matter were not settled – also considerable. As far as how much each of the – isn’t it more like 500 – plaintiffs will get, I would doubt they all get the same amount. There is typically a pool of money available to the plaintiffs and its divided based on various factors. But I have no idea how they are doing it in this case – again it would all be in the agreement. I do not know if the B Court is sealing the agreement or if it will be public.

 

[onodian]

please leave your filthy lawyer talk out of these hallowed halls of gym nerdiness

:smiling_face_with_three_hearts: :couplekiss_man_man:

 

[JaJa]

mea culpa mea culpa mea maxima culpa

(although Doug did start it )

 

[RedBirdie]

I’m up to my eyeballs in work and cannot go find it today, but I was mailed a lot of information, including a proposed settlement schedule, early on. I believe it is also online. I can find it later in the week and share.

 

[Doug1233]

Yes please. I don’t really care how much each victim gets. They all deserve more, regardless. I’m much more interested in how much Manly will get his hands on (and how badly he will try to bury it).

 

[Doug1233]

As part of the settlement, USAG agreed to place “one survivor” on the board.

In addition to the Tom Forster replacement speculation, I wonder who will be nominated for this position? And what is a “survivor” defined as? Does it have to be a Nassar victim?

I found this in case anyone else can make sense of it. Obviously the news reporting is very much simplified. It seems like the discourse includes settlements replacing to Twistars and also Sharp.

Here is the plan of reorganisation:

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47282/ed5b2dda-7868-4c08-b116-ca248828e3a7_1655.pdf

Discussion and schedules:

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47282/3413d066-2b78-4134-a434-c27c0a8d2055_1656.pdf

Full schedule list here:

Omni - Error

Error

error.omniagentsolutions.com

 

[Doug1233]

I see that clause 7.4.4 of the plan makes reference to Steve Penny’s claim against USAG for unpaid severance. How fucking low can he go.

 

[onodian]

mea culpa mea culpa mea maxima culpa

(although Doug did start it )

baby you know I’m always going to blame Doug, you can breathe easy

 

[JaJa]

baby you know I’m always going to blame Doug, you can breathe easy

well you really should have said that up front. I already went to confession and am on my 23rd Hail Mary. So I guess your absolution means i can stop now.