Announcements

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.

 

Shook & Fletcher: Claims Processing

The Shook & Fletcher Asbestos Settlement Trust (the “Trust”) is pleased to announce that, starting June 1, 2024, Claims Resolution Management Corporation (“CRMC”) will serve as the claims processing facility for the Trust. The Trust’s current claims processor is Verus LLC (“Verus”); Verus began processing claims for the Trust in October 2023, when it purchased the claims processing business of MFR Claims Processing, Inc., the Trust’s long-time claims processor. To effectuate the transition to CRMC, Verus will stop accepting claims against the Trust at the close of business on April 30, 2024. In order to facilitate a smooth transition to CRMC, the Trust will pause accepting claims during May 2024, and CRMC will begin accepting claims for the Trust on June 1, 2024. CRMC has posted the necessary law firm filing documents to its website. There are two required documents for a firm to begin filing; the Hybrid Filer Agreement and User Administrator Form. Filing law firms should complete both documents and email them to DSnow@claimsres.com so you are ready to file on June 1. To obtain those documents, please visit the Shook Trust documents page. In the interim, if you have any questions, please contact CRMC by email at inquiry@claimsres.com or by calling (800) 536- 2722.

SPECIAL NOTICE REGARDING DEADLINES FOR FILING CLAIMS DURING MAY 2024:

Please note that section 5.2(b) of the Trust’s Claims Resolution Procedures (the “CRP”) requires that all new claims must be filed with the Trust within three (3) years of the date of diagnosis. In light of the length of time the Trust has been in operation, none of the provisions of the CRP relating to any other deadlines for filing claims or any tolling of any applicable federal, state or other statutes of limitations apply, and the three-year filing deadline is a firm deadline. The Trust understands that some claims may need to be filed before the end of May 2024 to comply with the Trust’s three-year filing deadline. Please file such claims with Versus as soon as possible, and in any event before April 30, 2024. The Trust will not be able to accept claims for filing between May 1, 2024 and June 1, 2024.