[SCA-AE] ANNOUNCE: Settlement additional

[Kateryna ty Isaf]

Keywords: AEnnouncements
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Announcements at aethelmearc.org for announcements only.
Replies and questions are sent to discussion at aethelmearc.org
or directly to the person making the announcement.
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For those groups who are able to contribute immediately, I will be attending
Delftwood's Deadly Carnival.  If you would prefer to give the checks to me 
directly you can bring them to
the event instead of mailing them.

We will also accept any donations that individuals may wish to contribute to 
the Kingdom to offset the costs or to the Society for any directed purposes 
and will forward funds as appropriate to the donators stated intentions.  If 
individuals request, I can provide donation letters.

There is a banking center local to the event site and I will deposit any
checks I receive there in the morning before the bank closes.  Both local
branches close at noon, so I will be going to the bank before lunch if I
have any checks to deposit.

Yours in Service,

Kateryna

-----Original Message----- 
From: Kateryna ty Isaf
Sent: Saturday, February 04, 2012 9:43 PM
To: Aethelmearc announcements
Subject: Re: [SCA-AE] ANNOUNCE: Important news regarding SCA Finances and
Lawsuit settlement

I will be providing amounts to each group once I have them.

For local groups, the amount is 18% of your bank accounts as of the end of
the year reporting for 2010.  The figure will not include Regalia,
Depreciating Equipment or Inventory.  This does however include all bank
accounts held in the name of the Group so groups with multiple accounts
and/or CD's should figure these into the amounts they are being asked to
contribute.

For those groups in the midst of the subsidiary change, you may send the
funds from the current account, meaning the non subsidiary one if you have
not transferred over to the subsidiary yet.

Thank you,

Kateryna

-----Original Message----- 
From: Dorinda
Sent: Saturday, February 04, 2012 9:15 PM
To: Kateryna ty Isaf
Subject: Re: [SCA-AE] ANNOUNCE: Important news regarding SCA Finances
andLawsuit settlement

Will you be giving us an amount?  Is it based off net worth (including
trailers and such) or just cash on hand?

Thanks,  Dorinda


----- Original Message ----- 
From: "Kateryna ty Isaf" <thlkat at hotmail.com>
To: "Aethelmearc announcements" <Announcements at aethelmearc.org>
Sent: Saturday, February 04, 2012 8:57 PM
Subject: Re: [SCA-AE] ANNOUNCE: Important news regarding SCA Finances
andLawsuit settlement


> Keywords: AEnnouncements
> ________________________________________________________________________
> Announcements at aethelmearc.org for announcements only.
> Replies and questions are sent to discussion at aethelmearc.org
> or directly to the person making the announcement.
> ________________________________________________________________________
> I wanted to thank publicly the groups already reaching out to me on how 
> they
> can fund the money back to the Kingdom.   I am going to post some 
> additional
> instructions here to reach the widest audience possible and will also send
> information to the Kingdom Exchequers list as exact figures each group 
> will
> be asked to contribute become available over the next few days.
>
> I wanted to share something with all of you that you may not know.  Our
> cousin corporations overseas are not being effected by this Lawsuit and 
> are
> not being required to provide 18% of their liquid capital to the SCA to
> settle the lawsuit, but Drachenwald has already committed to doing just 
> that
> in solidarity with all of us.
>
> The Board has authorized that we may suspend normal financial policies in
> order to get the funds to the Society in time to end this lawsuit with the
> settlement.  This means that for any group who has the ability to provide
> the funding upfront without dangerously depleting your accounts and
> jeopardizing your ability to hold upcoming events or cashing out CD's not
> scheduled to mature, you may hold an emergency meeting to agree to the
> allocation of the funds.  The Kingdom will front the funds to the Society,
> but we anticipate this to be close to the full amount in our operating
> account.  I will know more within the next two days regarding actual
> figures.
>
> If you have any questions, you may also reach out to me via email or phone
> 570-451-1386.
>
> Thank you,
>
> Kateryna
> Chancellor of the Exchequer
>
> -----Original Message----- 
> From: Clare Jackson
> Sent: Saturday, February 04, 2012 6:14 PM
> To: AE Announce
> Subject: [SCA-AE] ANNOUNCE: Important news regarding SCA Finances 
> andLawsuit
> settlement
>
> Keywords: AEnnouncements
> ________________________________________________________________________
> Announcements at aethelmearc.org for announcements only.
> Replies and questions are sent to discussion at aethelmearc.org
> or directly to the person making the announcement.
> ________________________________________________________________________
> Good Gentles all,
>
> Their Majesties, Their Highnesses, our Kingdom Exchequer and I were 
> invited
> to a conference call with the Society Officers and Board of Directors. 
> This
> concerned a lawsuit that was brought against the Society in the State of
> Pennsylvania .
>
> In 1999, a gentleman who was a member of the SCA in Pennsylvania was
> investigated concerning criminal activity involved with children.  He was
> found guilty and sentenced to 60+ years.  The SCA revoked his membership 
> and
> banned him.
>
> A $7 million lawsuit was brought against the SCA and three officers of the
> group he belonged.  In mediation this month, a settlement was been reached
> for $1.3 million.
>
> We have two insurance companies who are supposed to help cover both the
> legal costs involved and any damage awards that might stem from law suits
> like this.  One of them is covering a portion of this.  The other is
> attempting to get out of their obligation.  The Society has brought a
> lawsuit to compel them to abide by their contract with us.  It is in
> process.  This means the Society has another set of legal fees to deal 
> with
> on top of the costs of defending the original lawsuit and the settlement
> itself.
>
> The SCA Corporate accounts do not have the assets to cover this settlement
> payment.  They have, over the past 10 years, spent $500,000 in legal fees.
> Their accounts at this time are very close to the bone just on operating
> expenses.
>
> If we do not make this payment, the lawsuit goes back to a judge.  It is
> likely the amount owed will go back to the original $7 million.  This 
> would
> destroy the organization as we know it - in particular, it would wipe out
> the Kingdoms of AEthelmearc and the East as well as the Pennsic War.  The
> SCA would probably cease to exist.
>
> This means that the SCA, as an organization, needs to come together to 
> make
> this settlement payment.  Our Financial Officers have determined that if
> every group: Shire, Canton , Barony, Kingdom, and every independent War,
> such as Pennsic and Gulf War turned in 18% of their assets, we would be 
> able
> to cover this payment.
>
> We will have information from the Society by the end of today what our
> financial obligation will be.  This will be a total of what each local 
> group
> and the Kingdom will owe to help settle this debt.
>
> The payment is time sensitive.  At this time, the Kingdom Financial
> Committee is looking at ways to make the lump sum payment for AEthelmearc
> and all her local groups within the week.  This is expected to tap most if
> not all our current available resources.  The expectation would then be 
> that
> the local groups would over the next few months pay their portion to the
> Kingdom as cash flow from running events allows.  It is our hope that
> setting up our obligation this way will have the least impact on program
> services, our events and our activities – in other words – this would have
> the least impact on the People of AEthelmearc.
>
> That being said, there will more in depth information regarding the
> situation on the Society Web page later tonight.  In addition, in
> AEthelmearc, the Financial Committee will be meeting before Syracuse Curia
> on February 11 to hammer out a new budget for the Kingdom based on this 
> new
> situation.  That budget will be presented at Curia along with any further
> information I get from the Society.  After Curia, we will hold a
> brain-storming session for ideas to help handle the situation on both
> kingdom and local levels.
>
> This is not quite the end of the story.  What I have just presented is 
> worst
> case scenario and that IS where we are currently at.  However, as I stated
> earlier, SCA, Inc is seeking to force our insurance company to cover their
> financial obligations in this matter.  If we are successful to any degree 
> in
> recovering funds, this money would go back to the groups in proportion to
> what they turned in to make the payment.  So…It’s not gonna get worse and 
> it
> could get better – but that will take time.
> If you have questions, email me     ae.seneschal at aethelmearc.org
> There will be an  announcement and FAQ on the Society webpage later 
> tonight
>
> Meanwhile, as always, we need to do the job that is in front us and we 
> need
> all of us to help.  I know this Kingdom like my own heart.  I know we can
> make good come from this.  I’ve seen us do it time and time over.  I have
> faith we will once again.
>
> And thank you all.
>
> As Always, In Service to AEthelmearc,
> Mistress Cori
> Seneschale, AEthelmearc
>
> Please distribute this letter to other AEthelmearc group lists.  As
> questions come up, please direct people to the Society Website or to the
> Kingdom Seneschal.http://www.sca.org/
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> _________________________________________________________________________
>
> _________________________________________________________________________
> Sca-aethelmearc mailing list
> Send general discussion email to discussion at aethelmearc.org to post to the 
> list.
> Email Official announcements to announcements at aethelmearc.org .
> Visit https://lists.andrew.cmu.edu/mailman/listinfo/sca-aethelmearc for:
> more info, archives, subscription changes, etc.
> When replying to posts, you should remove excess quotage.
> _________________________________________________________________________
>