Court Approves Distribution In ISKCON Chapter 11 Case
Posted June 23, 2006
The U.S. Bankruptcy Court in both California and West Virginia today granted ISKCON's motion to estimate claims for the purpose of distribution. Approval by the court provides the disbursement Trustee with legal authority to begin making compensation payments this month to well over 600 tort claimants.
Today's proceedings cap two years of federal court litigation and four years of reorganization proceedings in which ISKCON institutionally acknowledged abuse and agreed to compensate hundreds of children who attended Krishna schools worldwide. Rather than litigate over statutes of limitation from decades past which would likely have legally barred litigants from any financial recovery, ISKCON instead invited every abused former student to timely take part in a $9.5 million dollar compensation fund.
That fund is being cooperatively created by contributions from ISKCON Temples, GBC members (past and present), Gurus and Sannyasis, the BBT, other ISKCON projects, as well as from devotees, friends and supporters worldwide. By acknowledging the past and cooperatively creating a compensation fund, no ISKCON Temple anywhere in the world had to be closed or sold.
Support for this revolutionary legal approach which, in effect, invited claims against ISKCON was the direct result of a worldwide consensus of ISKCON membership, and may accurately be viewed as an unequivocal expression in loving support of all of those children who suffered simply unimaginable abuse.
If you are a claimant and have not yet received an address confirmation letter from the Trustee, or a compensation matrix sheet from bankruptcy counsel, then send an email to firstname.lastname@example.org with your legal name, Krishna name and current address.
Late claims are still being accepted and processed. The instructions and
forms to file a late claim, as well as to change your address, are available