On November 9, 2023, the bankruptcy court granted the Committee’s application to employ Stout Risius Ross, LLC (“Stout”) as its valuation expert to assist with assessing the value of claims filed in this case and the allocation of such claims to any applicable insurance coverage in order for the Committee to effectively negotiate a global settlement with the Debtor and its insurers.

On August 28, 2023, the bankruptcy court granted the Committee’s application to employ Burns Bair LLP (“Burns Bair”) as the Committee’s special insurance counsel. The Court authorized Burns Bair to assist the Committee with analyzing the insurance policies of the debtor and obtaining insurance recoveries, among other things.

On May 25, 2023, the bankruptcy court granted the Committee’s application to employ Berkeley Research Group, LLC (“BRG”) as the Committee’s financial advisor. The Court authorized BRG to assist the Committee with analyzing the financial condition of the debtor, among other things. BRG’s analysis will provide insight into the scope of the Debtor’s assets and the Debtor’s ability to compensate survivors. 

On March 27, 2023, the United States Trustee, the governmental body tasked with overseeing bankruptcy cases, appointed nine members to the Official Committee of Unsecured Creditors (the “Committee”).  The Committee was appointed to represent all unsecured creditors of the Debtor, which are predominately comprised of sexual abuse survivors. More information regarding the role of the Committee can be found at Overview of Bankruptcy Process.