NOTICE FROM THE NARCO ASBESTOS TRUST
March 27, 2020
In recognition of the hardships resulting from the current COVID-19 pandemic, effective March 27, 2020, the NARCO Asbestos Trust adopts the following:
The Trust temporarily suspends any requirement that a document submitted to the Trust be notarized. Documents may be submitted to the Trust without notarization as provided below. The Trust temporarily suspends any requirement that a document be witnessed by more than one person or by a person unrelated to the signatory. Documents may be witnessed by one person who may be a family member.
Provided the claimant’s law firm has entered an electronic filer agreement with the Trust and CRMC, the Trust will accept documents signed by DocuSign or by another commercially reasonable e-signature program. Claimants’ law firms should coordinate submission of documents signed by DocuSign or by another commercially reasonable e-signature program with CRMC.
Deadlines imposed by the TDP, Trust policy or procedures are tolled for 90 days from March 23, 2020, subject to further extension by notice from the Trust. The Trust will assess whether to extend the tolled time period before the end of the 90 days.
These provisions will apply until further notice from the Trust. The Trust may prospectively revert to its prior policies and may subsequently require that the original signatures be obtained for documents submitted with electronic signatures.
NARCO Trust COVID-19 Policy PDF
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.
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.
A notice was posted regarding the timing of payments, click here to view that document.
A notice was posted regarding the average and maximum values. [Please see the NARCO Trust’s Documents Page for the current values.]
All NARCO Asbestos Trust Individual Review (“IR”) claims that answer “Yes” to the question “Has an asbestos-related lawsuit or claim ever been filed on behalf of the injured party?” must complete the Affirmation of Counsel: IR Claim Form Part 4: Asbestos-Related Litigation and Claims History. This document should be uploaded as part of the claim file using document type “NAR-IR Doc Aff.”
See documentation requirements contained in Part 4 of the IR Claim Form. If you answer “Yes”, to the question “Has an asbestos-related lawsuit or claim ever been filed on behalf of the injured party?”, you must complete Part 4 of the IR Claim Form. In addition, for every asbestos-legal action filed on behalf of the injured party, the claimant and the claimant’s law firm must attach to the Claim Form:
- the file-stamped copy of the complaint, as amended,
- any standard disclosures or interrogatories and the answers thereto required by the applicable jurisdiction, and
- any affidavits or deposition testimony submitted by or on behalf of the injured party
To the extent that affidavits or depositions from a person other than the injured party include information that bears on an injured party’s exposure to a NARCO asbestos-containing product (whether or not the affidavits or depositions mentioned NARCO) and were submitted on behalf of the injured party to a court, an insurance company, or an asbestos defendant in the tort system in an effort to support an asbestos claim, those affidavits and depositions must also be submitted. Such affidavits and depositions must be submitted regardless of whether they tend to support the claim of exposure to a NARCO asbestos-containing product. Affidavits and depositions that do not relate to the time period of the injured party’s exposure to a NARCO asbestos-containing product do not have to be submitted to the NARCO Trust, unless the affidavit or deposition: (1) names the injured party; and (2) contradicts the evidence of the injured party’s exposure to a NARCO asbestos-containing product. Affidavits that were submitted to other asbestos trusts only do not have to be submitted to the NARCO Trust.
Please see the updated NARCO Trust Directives Related to Exposure – As of January 2019. [The current Exposure Directives are available on the NARCO Trust’s Documents Page.]
CRMC has re-defined the prior Recategoriztion Option on the Offer status page for all Trust clients. You will now have two options:
1) Recategorization – POC needs to be amended or
2) Recategorization – Ready for CRMC Review.
This was previously a two step process where you were required to log your recategorization request and then move the claim forward for processing on the claim page once any claim amendments were complete.
CRMC has posted an updated eClaims user guide. Please click here to view that document.