Many trusts this year have expanded their approved job site lists, allowing compensation for more individuals who claim to have an asbestos-related injury. However, as can be seen below, many trusts also have decreased their payment percentages.
In fact, there has not been an increase in payment percentages during the 3rd quarter of 2022 from any bankrupt trusts.
The rising costs of inflation have even affected bankruptcy trust payouts. It will be interesting to see if any bankrupt trusts will decrease their approved jobsite list while we round out 2022.
Asbestos Case Tracker will continue to follow these developments and provide a summary of the changes during the fourth quarter of 2022. The following is a list from this year’s the third quarter:
Decreased its payment percentage to 6.3 percent effective August 1, and released its updated site list on September 8.
Released its updated site list on July 15.
Released three updates to its approved jobsite list.
Decreased its payment percentage applicable to claims against T&N Sub-Account to 5.9 percent effective August 1. The trust also released its updated Flexitallic site list on August 29, and its updated T&N site list on September 29.
Published its Second Amendment to the Second Amended and Restated Claims Resolution Procedures on August 24.
Released three updates to its approved jobsite list.
Decreased its payment percentage to 12.2 percent effective August 1.
Decreased its payment percentage applicable to claims against Owens-Corning Sub-account to 5.9 percent effective August 1, and its payment percentage applicable to claims against Fibreboard Sub-account was decreased to 4.4 percent effective August 1.
Released three updates to its approved job site list.
Released its updated APG site list and updated USG site list on July 6. On August 1, the Trust proposed a reduction of its payment percentage to 12.7 percent.