Payment Percentage Increase
The Trustees, with the consent of the TAC and the Futures Representative, have increased the Payment Percentage to 51.1% of the total liquidated claim value. After necessary updates to the claims processing system and payment procedures have been completed, claims will be paid in accordance with this change. All eligible previously paid claims, including pre-petition liquidated claims, should receive the additional amounts due as a result of this Payment Percentage increase by August 15, 2019.
The Trust has entered into a Transition Agreement regarding Trustee resignation with Stephen M. Snyder attached here
PLEASE TAKE NOTICE that a hearing on the motion to approve Western Asbestos Settlement Trust’s Fifteenth Annual Report and Accounting is scheduled for Tuesday, July 2, 2019 at 10:00 a.m. before United States Bankruptcy Court Judge, the Honorable Hannah L. Blumenstiel, at the United States Bankruptcy Court for the Northern District of California, San Francisco Division, located at 450 Golden Gate Avenue, 16th Floor, San Francisco, California 94102 in Courtroom 19.
Western Approved Modifications
Modifications to the Trust Distribution Procedures were approved by the Trustees, with consent of the Futures Representative and Trust Advisory Committee, as follows:
Trust Distribution Procedures
Section 6.2 (j) Claim Materials
Information sufficient to establish that the claimant is not eligible nor has received Medicare benefits. Information representing that the date of last exposure to Western Asbestos or Western MacArthur’s asbestos products or operations happened before or after December 5, 1980. Information of satisfied Medicare lien or global settlement documentation.
2019 Indexed Base Case Values for Economic and Medical Loss
The new indexed base cases values for 2019 are as follows: 2019 Economic Loss Base Case $263,0002019 Medical Loss Base Case $312,0002019 Assumed Future Medical Loss and Funeral Expenses $117,079