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 Trust | Change |
|---|---|
| AC&S | Effective 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 Green | Pursuant 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 claims | Expedited 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 claims | Individual 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 Industries | Approved job site list updated to include AP Green Oak Hill, OH & Pennsylvania Salt Manufacturing Company AKA Pennsalt Chemical Company in Calvert City, KY |
| Flintkote | The Trustees have made a determination to increase the Trust’s payment percentage from 8 percent to 11 percent as of March 4, 2021. |
| Keene Creditors | Approved job site list updated to include E. I. DuPont in Wilmington, DE |
| Manville | The Trustees approved an increase in the pro rata payment percentage from 4.3 percent to 5.1 percent. |
| Raytech | Approved job site list updated to include E. I. DuPont in Waynesboro, VA |
| Sepco | As of December 2020, claimants can file their paperwork online |
| United Gilsonite Laboratories | The Trustee has adjusted the Scheduled Values, Average Values and Maximum Values for the compensable Disease Levels |