Annual Report
Posted 04/28/2023
PLEASE TAKE NOTICE that a hearing on the motion to approve Plant Asbestos Settlement Trust’s Eleventh Annual Report and Accounting is scheduled for Thursday, June 1, 2023 at 10:00 a.m. before United States Bankruptcy Court Judge, the Honorable Hannah L. Blumenstiel, at the United States Bankruptcy Court for the Northern District of California, San Francisco Division, located at 450 Golden Gate Avenue, 16th Floor, San Francisco, California 94102 in Courtroom 19.
Plant Asbestos Funds Received Ratio
Posted 04/24/2023
The Trustees, with the consent of the Trust Advisory Committee and the Futures Representative, have increased the Funds Received Ratio from 11.5% to 16.5% of the total liquidated claim value. After necessary updates to the claims processing system and payment procedures have been completed, claims will be paid in accordance with this change. All eligible previously paid claims should receive the additional amounts due as a result of this Funds Received Ratio increase by the end of July 2023.
Modifications to Site List
Posted 03/1/2023
The following modifications to the Plant Land Site List were approved at the Trustees’
Meeting:
US Pipe & Foundry – Union City, CA from 7/26/1961- 12/31/1978- Rating Very Low
United Airlines Building 15- San Francisco International Airport – San Francisco, CA from
3/27/1964- 12/31/1978- Rating Very Low
American Smelting & Refining (ASARCO) – Selby, CA from 1/1/1963- 12/31/1971- Rating
Low
Indexed Base Case Values for Economic and Medical Loss
Posted 01/16/2023
The new indexed base cases values for 2023 are as follows:
Economic Loss Base Case- $253,000
Medical Loss Base Case- $246,000
Assumed Future Medical Loss and Funeral Expenses- $92,602
Updated User Guide
Posted 01/10/2023
In an attempt to further assist firms in submitting claims, the Trust has updated the Firm User Guide to a user friendly version for ease of use. The User Guide is located under the Claims Tab.
Reminder of Policy Regarding Claims in Certain Statuses
Posted 01/03/2023
The Trust would like to remind firms regarding the policy on the length of time claims are allowed to remain in certain statuses. The policy is as follows: The Trust can deem a claim withdrawn after the claim has been placed on “Hold/Deferred”, in “Reviewed Deficient” status, or in “Offer Made” status and remains in one of those statuses for six (6) months. Upon request and for good cause, the Trust may extend this period for an additional six (6) months. After the extended period, the Trust will deem the claim withdrawn. In addition, claims that remain in an “Incomplete” status without a filing fee will be withdrawn after two weeks. Claims that remain in Incomplete with a filing fee will be withdrawn after one year. According to the Trust Distribution Procedures, the existing statute of limitations for the claim will not be affected by the withdrawal, only its place in the FIFO queue. “A claimant can withdraw a Trust Claim at any time upon written notice to the Trust and file another claim subsequently without affecting the status of the claim for statute of limitations purposes, but any such claim filed after the withdrawal shall be given a place in the FIFO Processing Queue based on the date of such subsequent filing. TDP Section 6.3 Any claim that is withdrawn or rejected may be resubmitted, but a new $250 filing fee will be required. If you have any questions, please feel free to contact the Trust at support@524gtrust.com
Timing of Requests for Consideration at Trustees’ Meetings
Posted 01/03/2023
Any requests for revisions to Trust policies or procedures, physician certification, modifications to an approved list, and/or Trust Distribution Procedures/Matrix interpretations or questions to be considered during the Trustees’ meeting must be received by the Trust on or before the deadline, listed below.
For requests to be considered at future Trustees’ meetings, the schedule is as follows:
Trustees’ Meeting Deadline for Requests
February 2023 Friday, January 13, 2023
April 2023 Friday, March 10, 2023
September 2023 Friday, August 11, 2023
November 2023 Friday, October 13, 2023