Category: C.E. Thurston

CET: Supplemental Payments

Pursuant to Section 6.2 of the Asbestos Related Claims and Demands Trust Distribution Procedures (“the TDP”), the Trustee has recently completed a re-evaluation of the Payment Percentage.  As a result of this re-evaluation, the Trustee – with the consent of the Trust Advisory Committee and the Legal Representative – has decided to increase the Payment Percentage from 35% to 50%.

The Trustee has also decided that this increase in the Payment Percentage is to be applied to all post-bankruptcy claims which were previously paid by the Trust at a lower rate.  The Trust has adopted policies and procedures requiring each previously paid claimant or the claimant’s counsel to affirmatively accept the supplemental payment before a check will be issued.   Please refer to the “Supplemental Payment Policies and Procedures” memo posted on the Documents page of the website  for further details.

CET: Supplemental Payments

The Trust has decided to extend the deadline for responses to the supplemental payments as referred to in the “Supplemental Payment Policies and Procedures – 2015” memo posted on the document Page of the Website. The updated response deadline has been changed from October 31, 2016 to December 31, 2016.

CET: eFiler

Effective April 28, 2016, the C.E. Thurston & Sons Absestos Trust will no longer offer its “E-file” electronic filing option. All eClaims users currently using E-filing will be converted to hybrid filing (“H-filing”), which still permits electronic filing of claimant information. Using H-filing, users may complete the claim form electronically online and upload any required documents, just as with E-filing. The difference is that, using H-filing, a CRMC Claim Review Analyst will run the CDT valuation program in every case. Please be advised that, particularly in the initial period following this transition, review times will likely increase. However, CRMC has retained additional staff to assist in this effort and will work as quickly as possible to review your claim(s) in a timely manner.

CET: Pro Rata

Pursuant to Section 6.2 of the Asbestos Related Claims and Demands Trust Distribution Procedures (“the TDP”), the Trustee has recently completed a re-evaluation of the Payment Percentage. As a result of this re-evaluation, the Trustee – with the consent of the Trust Advisory Committee and the Legal Representative – has decided to increase the Payment Percentage from 25% to 35%. The Trustee has also decided that this increase in the Payment Percentage is to be applied to all post-bankruptcy claims which were previously paid by the Trust at a lower rate. The Trust has adopted policies and procedures requiring each previously paid claimant or the claimant’s counsel to affirmatively accept the supplemental payment before a check will be issued. Please refer to the “Supplemental Payment Policies and Procedures – 2015” memo posted on the Documents page of the website (/documents/c-e-thurston/) for further details.