United States Mineral Products Company Asbestos PI Settlement Trust
Notice of Temporary Suspension of Claims Filing
The United States Mineral Products Company Asbestos PI Settlement Trust (the “Trust”) will be temporarily suspending claim filing and processing (for both new and previously-filed claims) on January 1, 2020. The Trust is switching to a new claims processing facility.
December 31, 2019 is the last day the Trust will be accepting claims through CRMC.
The Trust’s new claims processing facility is Verus LLC. Verus will begin processing Trust claims on or before March 31, 2020. The Trust will give notice to claimants and claimants’ counsel at least two weeks prior to the resumption of claims filing and processing of the details on how to file both new Trust claims and material relating to previously-filed claims with Verus.
The statute of limitations for all Trust claims with a statute deadline between January 1 and March 31, 2020 will be extended until June 30, 2020. All deadlines for responses to deficiency notifications or acceptance of offers during this period will also be extended until June 30, 2020.
After January 1, 2020, please consult the Trust’s new website at
www.usmineraltrust.com for updates and additional resources.
Effective January 1, 2020 CRMC will no longer be the processor for the USM Trust. More information will be provided as it becomes available.
The Manville TDP was amended by adding a new sentence to the end of Section H.8, providing that excess Maximum Annual Payment funds remaining at the end of a year will roll over and be available to pay claims in the following year.
Effective July 31st, 2019, Maggie Baumgardner is no longer employed with CRMC. Please direct all your inquiries for the ACRF to email@example.com or (303) 364-8158.
The Manville Trust has reached its Maximum Annual Payment (MAP) amount for 2019. Therefore, any claim with a status of “Awaiting Offer Funding” will not receive payment until 2020. Claims at this status will be carried over to 2020 and placed at the head of the FIFO payment queue. Please refer to the 2002 TDP Section H.8 for further details.
NARCO ASBESTOS TRUST
NOTICE TO HOLDERS OF ANNUAL CONTRIBUTION CLAIMS
TIMING OF PAYMENTS
To date, the NARCO Asbestos Trust (the “Trust”) has paid holders of Annual Contribution Claims from funds received from dividends paid on the Trust’s holdings of 79% of the stock of Harbison Walker International (“HWI”) and from investments of the dividends. The Trust projects that it will exhaust those funds during the Third Quarter of 2019.
Upon exhaustion of those funds, the Trust will pay holders of Annual Contribution Claims based on the schedule and process provided in Section 2.3 (c) of the NARCO Asbestos Trust Agreement.
Following the end of each calendar quarter, the Trust provides Honeywell International Inc. with notice of the claims entered in the Annual Contribution Claims Fund Payment Queue during the quarter. The
Trust includes in the notice the funds received by the Trust from the Trust’s holdings in HWI available to pay Annual Contribution Claims. Thirty days after receipt of the notice, Honeywell is obligated to deliver
to the Trust funds, as stated in the notice, sufficient to pay the Annual Contribution Claims in the Annual Contribution Claims Fund Payment Queue less amounts, if any, held by the Trust from the Trust’s
holdings and subject to annual caps specified in the Trust Agreement.
Honeywell will be given the regular notice of claims entered in the Annual Contribution Claims Fund Payment Queue in the Third Quarter of 2019 during the first week of October. Honeywell will be obligated to transfer the requisite funds thirty days thereafter, that is, in early November. Holders of Annual Contribution Claims entered in the Annual Contribution Claims Fund Payment Queue in the Third Quarter should expect payments in mid- November.
Holders of claims entered in the Annual Contribution Claims Fund Payment Queue in subsequent calendar quarters should expect payments in the second month following the end of the calendar quarter in which their claims were entered in the Payment Queue.
The first round of October payments were made on the 18th. The remaining will be issued on October 22nd.
Due to a lack of funding, the expected 10/15/2019 USM payments were not processed. We will provide updates when more information is available.
eClaims has been updated to allow claims to be reviewed for exposure, medical and statute of limitations purposes prior to the submission of a Certificate of Capacity Document. To the extent a Certificate of Capacity Document is required, an offer will not be issued until an acceptable document is submitted to the Trust. Certain claims’ statuses have been updated to allow for the further processing of claims affected by this update.
eClaims has been updated to allow claims to be processed for exposure, medical and statute of limitations purposes prior to the submission of an IR Part 4 Affirmation. To the extent an IR Part 4 Affirmation is required, an offer will not be issued until an acceptable affirmation is submitted to the Trust. Certain claims’ statuses have been updated to allow for the further processing of claims affected by this update.