30 décembre, 2006 09:38
December Updates from Dow Bankruptcy (2 links)
http://www.tortcomm.org/newsletter_061218.shtml
CLAIMANTS' ADVISORY COMMITTEE E-NEWSLETTER
Volume 3, No. 10, December 18, 2006
This is the 30th e-newsletter (Vol. 3, No. 10) from the Claimants' Advisory Committee (CAC) in the Dow Corning bankruptcy Settlement Plan. You were sent a copy of the newsletter because our records show that you requested to be on the mailing list. If you wish to unsubscribe or to reply to this newsletter, send an email to: info@tortcomm.org.
Please do not hit "Reply" to this email address. Please use the email address: info@tortcomm.org.
Requests for copies of claim forms or inquiries about the status of a claim should be directed to the Settlement Facility at info@sfdct.com or 866-874-6099. The Claimants' Advisory Committee does not have access to individual claimant files to answer these kinds of questions.
There are a number of matters that we are currently working on and hope to report on soon, including the status of "Conditional NOI claims," late claims, rupture issues, etc. We will report on these in another newsletter in 1-2 weeks. In the meantime, we wanted to provide you with information concerning the Class 7 payments and the status of the cure deadlines as detailed below. {more at: http://www.tortcomm.org/newsletter_061218.shtml}
http://www.sfdct.com/home.cfm?agree=9&lang=eng
Claims Administrator's Desk
Last Updated: 12/21/2006 @ 5:08 PM
The Settlement Facility – Dow Coring Trust (SF-DCT) has been working to develop a procedure for processing Class 7 (Silicone Material) claim submissions.
To facilitate processing, the Debtor's Representatives and the Claimants' Advisory Committee have approved a special cash offer of $3,000 for Silicone Material Claimants who requested a disease review on their claim form, but because of the delay in processing, may choose to accept a one-time payment offer instead of waiting for a disease review. A disease review could take as long as 24 to 36 months. Please note that if you are represented by an attorney, the Cash out option of $3,000 is subject to attorney fees as outlined in the Claimant Information Guide.
We will begin to make Expedited Release payments of $600.00 to Silicone Material Claimants by the end of 2006. The Expedited Release payment is not subject to attorney fees but attorneys may deduct their certain expenses that are solely attributable to your claim as outlined in Judge Hood's Order regarding expenses.
The SF-DCT also identified Class 7 Claimants who are ineligible to receive a Class 7 payment based on the amount they received in the MDL-926 Settlement or who did not satisfy the Class 7 marshaling requirement. These Claimants will be sent a notice regarding their ineligibility.
When processing Class 7 claims, SF-DCT will rely on documents in our files as well as the MDL-926 claim processing data. This may require Claimants to submit additional documentation in order to complete their claim reviews.
Thank you for your patience in this matter as we work to develop a process that is as fair and expeditious as possible given the limited Class 7 fund. Please be patient as we anticipate that after checks and letters are sent, we will experience a high volume of mail and telephone calls. We appreciate your understanding in advance.
As a reminder, Judge Hood signed an Order in June 2006 extending all cure deficiency deadlines to January 17, 2007. This includes cure deficiency deadlines that have or will run up to and including January 16, 2007. You may read Judge Hood's Order extending the deadline by clicking on "News Updates".
David Austern
[ more at http://www.sfdct.com/home.cfm?agree=9&lang=eng
