2021 First Quarter Asbestos Bankruptcy Trust Alert

Asbestos bankruptcy trusts remain a topic frequently monitored and reported on Asbestos Case Tracker.  As the first quarter of 2021 comes to a close, we have seen a number of changes to 11 trusts that will impact the amount of compensation available to individuals claiming asbestos-related injuries. 

Below is a summary of the changes, to date. It will be interesting to see how the PROTECT Asbestos Victims Act, reported on last month, may impact the bankruptcies if it progresses.

Bankrupt TrustChange
AC&SEffective January 1, 2021, the Trustee of the ACandS Asbestos Settlement Trust has decreased the payment percentage from 7.2 percent to 4.9 percent
AP GreenPursuant to Section 5.3(a)(3) of the APG Asbestos Trust Distribution Procedures, as amended, the Trustee has adjusted the Scheduled Values for claims involving Disease Levels I – VII
DII Industries, LLC Asbestos Personal Injury Trust Halliburton and Harbison-Walker claimsExpedited Review claims are paid the current Payment Percentage of the Scheduled Value for each disease as outlined in the TDP. Expedited Review is also intended to provide qualifying claimants a fixed and certain claim payment.  The current Payment Percentage is 60 percent.
DII Industries, LLC Asbestos Personal Injury Trust Halliburton and Harbison-Walker claimsIndividual Review claims are paid at the current Payment Percentage of the Liquidated Amount and may be either greater or less than the Scheduled Value for the relevant disease level.  The current Payment Percentage is 60 percent.
Eagle Picher IndustriesApproved job site list updated to include AP Green Oak Hill, OH & Pennsylvania Salt Manufacturing Company AKA Pennsalt Chemical Company in Calvert City, KY
FlintkoteThe Trustees have made a determination to increase the Trust’s payment percentage from 8 percent to 11 percent as of March 4, 2021.
Keene CreditorsApproved job site list updated to include E. I. DuPont in Wilmington, DE
ManvilleThe Trustees approved an increase in the pro rata payment percentage from 4.3 percent to 5.1 percent.
RaytechApproved job site list updated to include E. I. DuPont in Waynesboro, VA
SepcoAs of December 2020, claimants can file their paperwork online
United Gilsonite LaboratoriesThe Trustee has adjusted the Scheduled Values, Average Values and Maximum Values for the compensable Disease Levels