CLAIMANTS' ADVISORY COMMITTEE E-NEWSLETTER
Volume 7, No. 1, January 28, 2010
Contact the CAC at: firstname.lastname@example.org or
phone: (419) 394-0717
fax: (419) 394-1748
Sybil Niden Goldrich
Ernest Hornsby, Esq
Dianna Pendleton-Dominguez, Esq.
This is the 69th e-newsletter (Vol. 7, No. 1) 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: email@example.com. Please do not hit "Reply" to this email address. Please use the email address: firstname.lastname@example.org.
Requests for copies of claim forms or inquiries about the status of a claim should be directed to the Settlement Facility at email@example.com or 866-874-6099. The Claimants' Advisory Committee does not have access to individual claimant files to answer these kinds of questions.
1. STATUS OF APPEALS
Tissue Expanders - This issue is now fully briefed and pending before the U.S. Court of Appeals for the 6th Circuit. A copy of all briefs are available on the CAC website at www.tortcomm.org. We anticipate a date for oral argument in the first half of 2010.
Disability A - This issue is now fully briefed and pending before the U.S. Court of Appeals for the 6th Circuit. A copy of all briefs are available on the CAC website at www.tortcomm.org. We anticipate a date for oral argument in the first half of 2010.
2. NEW MOTION FILED BY DOW CORNING
Dow Corning filed a motion with the court seeking a "Time Value Credit" (TVC) for what it claims are early funding payments it made to the Trust. The total credit Dow Corning is asking the court to allow it against future funding obligations is $370,087,085. The CAC is strongly opposed to this motion, and is filing a response with the court. A hearing date has been set for February10th on this matter. We will report more on the status of this motion in future newsletters, and copies of the briefs will be available on the CAC website next week.
3. PREMIUM PAYMENT STATUS
We are continuing our efforts to have Premium Payments authorized to Dow Corning Breast Implant Claimants who have approved Rupture and/or Disease claims. We understand that this issue is of the highest importance to claimants, and we remain committed to our goal of having Premium Payments authorized. We will update you with any developments on this issue in our newsletters and website.
4. SETTLEMENT FACILITY - DOW CORNING TRUST UPDATE
Update on Disease Processing Status - We are informed that the SF-DCT is current in processing new Disease Option 1 claims in Classes 5 and 6 (Dow Corning Breast Implant Claimants). The SF-DCT is processing Disease Option 2 claims submitted as of August 2009.
The SF-DCT informs us that many claimants have acceptable proof that they have or had a Dow Corning breast implant, but they have not filed a Disease Claim. If you wish to do so, there are no processing delays to have a claim reviewed. You may also apply for an Expedited Release Payment of $2,000 in exchange for waiving your right to file a Disease claim in the future.
The deadline to file a claim for Disease or Expedited Release is June 3, 2019.
5. SETTLEMENT FACILITY PAYMENTS TO CLAIMANTS - $1.157 BILLION
The SF-DCT issued approximately $7.756 million in payments for approved claims during December 2009, bringing the total amount paid to claimants to approximately $1.157 billion. The largest category of payments was for Disease claims for Class 5 claimants - $7.353 million.
Proof of Manufacturer Processing:
Through DECEMBER 31, 2009, the SF-DCT has received 75,725 Proof of Manufacturer claim forms in Classes 5, 6.1 and 6.2 (Dow Corning Breast Implant Claims). Of this number, 63,810 or 84.27% have acceptable proof of at least one Dow Corning breast implant. Of the 63,810 Dow Corning breast implant claimants with acceptable proof of manufacturer, almost 34% (one-third) or 21,387 women have been approved for a Rupture claim for their Dow Corning silicone gel breast implant.
|CLASS 5, 6.1 AND 6.2||(EXCLUSIVE OF NOI PAYMENTS)|
|(DOW CORNING BREAST IMPLANT CLAIMS)|
|CLAIM CATEGORY||NUMBER OF CLAIMS PAID THROUGH DECEMBER 31, 2009||PERCENTAGE OF CLAIMS APPROVED CLASS 5 | CLASS 6||TOTAL $$ PAID IN CATEGORY THROUGH DECEMBER 31, 2009|
|RUPTURE||21,387||71% | 36%||$ 413,965,191.31|
|EXPLANT||27,865||99% | 96%||$ 135,044,791.83|
|EXPLANT ASSISTANCE||566||91% | 57%||$ 2,805,141.10|
|INCREASED EXPLANT (6.2 ONLY)||192||N/A | 94%||$ 576,000.00|
|EXPEDITED RELEASE||91% | 86%||$ 34,472,780.40|
|DISEASE OPTION 1||82% | 66%||$ 368,245,620.49|
|DISEASE OPTION 2||1,032||22% | 9%||$ 134,834,548.75|
Class 7 - Silicone Gel Material Claims
Approximately 14,981 claimants in Class 7 - Silicone Gel Material Claims - have been approved for either an Expedited Release Payment ($600) or a Disease Cash-Out Offer ($3,000). Total payments to date from the Class 7 Fund are approximately $20.8 million. The total fund is $57.5 million NPV.
|Class 7 - Silicone Gel Material Claims|
|# Class 7 Forms Filed||54,712|
|Failed Prescreen - Ineligible Implant - Failed Marshalling||37,453|
|Foreign Gel Claims Approved & Paid $600||621|
|Expedited Release Claims Approved & Paid $600||6,990|
|# of Disease Cash-Out Offers of $3,000||7,370|
|TOTAL PAYMENTS OR CASH-OUT OFFERS||14,981|
|TOTAL # of Claims Paid (excluding those who rejected the Cash-Out Offer)||12,593|
|TOTAL AMT PAID as of 12/31/2009||$20,830,042.39|
Class 9 and 10 - Dow Corning Covered Other Products
Below is a chart showing the total number of Class 9 and 10 claims filed and paid to date:
|CLASS 9, 10.1 AND 10.2|
|DCC "COVERED" OTHER PRODUCTS|
|CLAIM CATEGORY||# OF FORMS FILED||# OF CLAIMS REVIEWED||# OF CLAIMS APPROVED||# CLAIMS PAID 1ST PYMT||# CLAIMS PAID PREM. PYMT||% OF CLAIMS APPRVD FOR 1ST PYMT||$ AMOUNT PAID 1ST PYMT||$ AMOUNT PAID PREMIUM PAYMENT||TOTAL PAID|
|PROOF OF MANUFACTURER||7222||7212||2616|
|INFLAMMATORY FOREIGN BODY RESP. (TMJ, finger, wrist, toe, knee & hip)||1746||714||414||393||377||95%||$2,000,125||$8,563,760||$10,563,885|
|IMPLANT FAILURE (TMJ, finger wrist, toe knee, hip & testicular)||2320||831||110||103||112||94%||$540,000||$2,614,115||$3,154,115|
|CLASS 5 & 6.1 & 6.2|
|TOTAL FORMS FILED||FORMS FILED WITH POM||ACCEPTABLE POM||APPROVED||COMPLETE||# CLAIMS PAID||TOTAL AMT PAID|
|INCLUDES NOI PAYMENTS (DOES NOT INCLUDE STALE CHECKS)|
|RUPTURE||EXPLANT||INCREASED EXPLANT||EXPLANT ASSISTANCE (EAP)||EXPEDITED||DISEASE||MEDICAL CONDITIONS (IFBR, TMJ, IMPLANT FAILURE)||OTHER PRODUCTS PREMIUM PAYMENT||TOTAL|
|CLASS 6.2 2||N/A||N/A||N/A||N/A||$88,100.00||N/A||N/A||N/A||$88,100.00|
|CLASS 6.2 3||N/A||N/A||N/A||N/A||$129,600.00||N/A||N/A||N/A||$129,600.00|
|CLASS 10.2 / 10.2||$6,000.00||N/A||N/A||N/A||$154,650.00||N/A||$219,625.00||$1,050,875.00||$1,431,150.00|
|RUPTURE||EXPLANT||INCREASED EXPLANT||EXPLANT ASSISTANCE (EAP)||EXPEDITED||DISEASE||MEDICAL CONDITIONS (IFBR, TMJ, IMPLANT FAILURE)||TOTAL|
|CLASS 6.2 2||N/A||N/A||N/A||N/A||74||N/A||N/A||N/A||74|
|CLASS 6.2 3||N/A||N/A||N/A||N/A||216||N/A||N/A||N/A||216|
|CLASS 10.2 / 10.2||2||N/A||N/A||N/A||259||N/A||64||64||389|
6. DEADLINE REMINDERS
Please mark your calendar with the following claim submission deadlines. Please note that these deadlines mean that your claim forms and materials must be received by the SF-DCT by the posted deadline. Please mail all forms early enough so that they are received by the deadline listed below. If your claim form is not received by the deadline listed below, you will not be permitted to file a claim later. The filing deadlines are not the same as "cure deadlines." Cure deadlines are individual deadlines that are set out in Notification of Status letters following the SF-DCT's review of your claim.
Type of Deadline
June 2, 2014
Explant Claims submission deadline for timely filed claimants in Classes 5, 6.1 and 6.2 (NOTE: this deadline does NOT apply to NOI claimants or Late Claimants)
June 3, 2019
Disease or Expedited Release Claim submission deadline for all claims in Classes 5, 6.1 and 6.2 (this deadline does NOT apply to Late Claimants)
If you would like to read prior CAC e-newsletters, they are available on the CAC website by clicking on "Electronic Newsletter." We urge you to visit the CAC website (www.tortcomm.org) on a regular basis to download or view relevant documents and read updates and new information. To contact the CAC, send an email to: firstname.lastname@example.org or send a letter to the Post Office Box address for the CAC at:
Claimants' Advisory Committee
P.O. Box 665
St. Marys, Ohio 45885
Phone Number: (419) 394-0717
Fax Number: (419) 394-1748
NOTICE: This document is copyrighted. You are not authorized to post it on any website without express, prior written permission of the Claimants' Advisory Committee.