Announcements

Shook & Fletcher: Notice of updated procedures re: Derivative claims

Shook & Fletcher Asbestos Settlement Trust

May 21, 2026

Notice to Claimants and Claimants’ Counsel of Amended Section 5.4 of the Claims Resolution Procedures Regarding Derivative Claims

The Trustee, with the consent of the Trust Advisory Committee (the TAC) and the Futures Representative (the FR), pursuant to section 8.1 of the Trust’s Claims Resolution Procedures (the CRP), has determined to amend section 5.4 of the CRP with respect to Derivative Claims.  This amendment is effective immediately and applies to all pending and future claims. 

Section 5.4 is amended to read as follows:

          5.4     Derivative Claims.  If a Trust Claimant alleges a Trust Claim resulting from exposure to an occupationally-exposed person (referred to herein as derivative or secondary exposure), such as a family member, the Trust Claimant shall elect Individual Review by the Trust and pay the IR Fee pursuant to Section 5.2(f) above.

       For all claims, the Trust Claimant with secondary exposure must establish that (a) the claimant is suffering from one (1) of the four (4) compensable Disease Categories described in Section 5.2(e) above, or an asbestos related disease otherwise compensable under the CRP; (b) the occupationally-exposed person would meet the exposure requirements under this CRP that would be applicable had the occupationally-exposed  person filed a direct claim against the Trust; (c) the claimant’s secondary exposure to the occupationally-exposed person occurred within the same time frame as the occupationally-exposed person’s primary exposure; and (d) the claimant’s secondary exposure was a cause of the claimed disease.

       If a Trust Claimant is seeking compensation for an asbestos-related disease other than Mesothelioma, the Trust Claimant with secondary exposure must also establish that the claimant was exposed to the occupationally-exposed person for a total period that is at least five times the exposure durations required for the occupationally-exposed person to ensure that the intensity and the duration of the Trust Claimant’s secondary exposure are sufficient to establish an equivalent level of exposure to that required under this CRP for an occupationally-exposed person with respect to the relevant Disease Category.  For Trust Claimants seeking compensation for a Non-Malignant Asbestos-Related Disease, this means the Trust Claimant with secondary exposure must establish that they were exposed through the occupationally-exposed person for at least: (i) 30 months of the occupationally-exposed person’s Shook & Fletcher Exposure prior to December 31, 1985; and (ii) 25 years of the occupationally-exposed person’s cumulative occupational exposure to asbestos, all 25 years of which must have occurred prior to December 31, 1986.  

       All other liquidation and payment rights and limitations under this CRP shall be applicable to such derivative Trust Claims.

 

MLC: Payment Percentage Change

MLC ASBESTOS PI TRUST
c/o Wilmington Trust Company
1100 N. Market Street
Wilmington, DE 19890-1625

December 3, 2025

Dear Claimants and Claimants’ Counsel:

The payment percentage applicable to claims against MLC Asbestos PI Trust (the “Trust”) has been reduced to 10.3%.

This re-determination of the payment percentage has been proposed by the Trustee to the Trust Advisory Committee and the Future Claimants’ Representative of the Trust, whose consent to the payment percentage reduction is required by Section 2.2 (f)(i) of the governing Trust Agreement. In accordance with Section 4.3 of the Trust Distribution Procedures, during the pendency of the consent process the payment percentage for the Trust will be 10.3%. In the event that the 10.3% payment percentage is not ultimately adopted by the Trust, claimants whose claims have been paid applying the 10.3% payment percentage will receive an additional payment representing the difference between their payment based on the 10.3% payment percentage and any higher payment percentage that is subsequently adopted.

As you know, Section 4.2 of the Trust Distribution Procedures requires that the Trustee reconsider the payment percentage if he deems such reconsideration to be appropriate in order, among other things, to assure that the Trust will be able to pay similarly situated current and future claimants against the Trust as equitably as reasonably possible. As set forth in the letter to you dated August 4, 2025, the Trustee, upon the advice of his advisors, determined to reconsider the payment percentage.

As required by Section 4.2 of the Trust Distribution Procedures, the Trustee took into consideration current estimates of the number, types and values of present and future claims against the Trust, the value of assets currently available to the Trust for claims payments, anticipated processing, administrative and legal expenses, and all other material matters that the Trustee and his advisors considered to be reasonably likely to affect the sufficiency of the Trust’s assets to pay a comparable percentage of full value to all holders of claims against the Trust. In doing so, the Trustee received and relied on presentations and advice from Trust advisors.

MLC Asbestos PI Trust

MLC: Payment Percentage Reconsideration

MLC ASBESTOS PI TRUST
c/o Wilmington Trust Company
1100 N. Market Street
Wilmington, DE 19890-1625

August 04, 2025


        Section 4.2 of the Trust Distribution Procedures requires that the Trustee of the MLC Asbestos PI Trust reconsider the payment percentage no less frequently than once every three years. Accordingly, and upon the recommendation of the Trust’s advisors, the Trustee deems such reconsideration to be appropriate at this time, and has directed the Trust’s advisors to provide a report and recommendations regarding a reconsidered payment percentage.

        The Trustee will re-determine the payment percentage not less than thirty (30) days from the date of this letter. Claimants that receive a release prior to the announcement of a proposed payment percentage change will have until the later of (i) the date of the proposed payment percentage change or (ii) thirty (30) days following receipt of that release to return a properly executed release in order to qualify to receive the current payment percentage. If, after
the consultation and consent requirements of the TDP and Trust Agreement have been met, a revised payment percentage is adopted by the Trust that is higher than the current payment percentage, claimants who received payments based on a lower payment percentage shall receive a supplemental payment.

        Please be aware that failure to return a release within thirty (30) days of receipt could adversely affect your rights.

                                                                                     MLC Asbestos PI Trust

MLC: Payment Percentage

MLC ASBESTOS PI TRUST
c/o Wilmington Trust Company
1100 N. Market Street
Wilmington, DE 19890-1625

August 29, 2024

Section 4.2 of the Trust Distribution Procedures requires that the Trustee of the MLC Asbestos PI Trust reconsider the payment percentage no less frequently than once every three years. Accordingly, and upon the recommendation of the Trust’s advisors, the Trustee deems such reconsideration to be appropriate at this time, and has directed the Trust’s advisors to provide a report and recommendations regarding a reconsidered payment percentage.

The Trustee will re-determine the payment percentage not less than thirty (30) days from the date of this letter. Claimants that receive a release prior to the announcement of a proposed payment percentage change will have until the later of (i) the date of the proposed payment percentage change or (ii) thirty (30) days following receipt of that release to return a properly executed release in order to qualify to receive the current payment percentage. If, after the consultation and consent requirements of the TDP and Trust Agreement have been met, a revised payment percentage is adopted by the Trust that is higher than the current payment percentage, claimants who received payments based on a lower payment percentage shall receive a supplemental payment.

Please be aware that failure to return a release within thirty (30) days of receipt could adversely affect your rights.

MLC Asbestos PI Trust

CRMC: General Counsel Retirement

After 27 years of outstanding and devoted service to the Manville Trust and its beneficiaries, Jared Garelick retired from full-time general counsel responsibilities to the Trust as of July 31, 2024.  His wealth of knowledge of the Manville Trust’s history and its evolution, his helpful spirit and his keen intellect have been invaluable. We wish him the best in his retirement.

Manville: General Counsel Retirement

After 27 years of outstanding and devoted service to the Manville Trust and its beneficiaries, Jared Garelick retired from full-time general counsel responsibilities to the Trust as of July 31, 2024.  His wealth of knowledge of the Manville Trust’s history and its evolution, his helpful spirit and his keen intellect have been invaluable. We wish him the best in his retirement.