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.