CLAIMANTS' ADVISORY COMMITTEE E-NEWSLETTER
Dow Corning Bankruptcy Settlement
Volume 12, No. 6, July 22, 2015
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 124th e-newsletter (Vol. 12, No. 6) 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, click here or to reply to this newsletter, send an email to: email@example.com. Please do not hit "Reply" to this email address. To contact the CAC, use the email address: firstname.lastname@example.org or email@example.com. You can also contact the CAC directly at 419-394-0717.
CLASS 7 CONSENT ORDER STATUS
The SF-DCT mailed notice of the Class 7 Consent Order to approximately 56,000 Class 7 claimants. The Consent Order is an agreed resolution of a pending dispute between the CAC and Dow Corning about claims that were previously denied based on "inadequate marshaling" or "failed marshaling." The CAC supports approval of the Consent Order as the fastest way to approve paying all remaining Class 7 claims, including claims that would have been denied but for our efforts to include them in the Consent Order.
Unfortunately, we have received a number of "objections" to the Consent Order from claimants. Most of these "objections" contain comments that aren't about the Consent Order at all, but raise collateral issues about the bankruptcy plan such as complaints that the Disease Grid is not sufficient compensation. These types of objections will only serve to further slow down the process of getting money to deserving claimants. Moreover, these types of comments are not appropriate or relevant to whether the Consent Order should be approved; the time to assert these objections was BEFORE the bankruptcy plan was approved in 2004. Neither the CAC nor the courts can change the terms, payment amounts, or structure of the Dow Corning bankruptcy plan and settlement. We urge all claimants who sent in letters like this to the court to withdraw them or make it clear to the court that they are not objecting to allowing Class 7 claimants to be paid now.
The deadline for objections is July 27. After that, the court will likely enter a scheduling order setting a date for the CAC and Dow Corning to respond to the objections and for a hearing on the matter. This means that the earliest date for a hearing will be in October. It is likely that, because of the objections, this will delay approval of the Consent Order until late this year, or possibly next year. We are not happy about this delay, and we will continue to work to seek authorization to pay the disease claims and send other cash-out offers by December 2015.
ATTORNEYS MUST SUBMIT A NEW W-9 TO THE SF-DCT
The paying agent for the SF-DCT, Wells Fargo, requires that all attorneys must submit a new W-9 to the SF-DCT before payment can be issued to either them or their clients. The W-9 form was revised by the IRS in December 2014. You can download a copy of the new W-9 on the Home Page of the CAC website (www.tortcomm.org) or by contacting the SF-DCT at firstname.lastname@example.org.
EXPEDITED RELEASE PAYMENTS
The Settlement Plan provides that any claimant who has acceptable proof that she had or has a Dow Corning breast implant is eligible to receive either a Disease Payment or an Expedited Release Payment. The deadline to file a claim for Disease or Expedited Release is June 3, 2019. If you decide to forego applying for a Disease Payment and you want to accept the Expedited Release Payment, simply complete and return the Disease/Expedited Release claim form and submit it to the Settlement Facility. For claimants in Class 5 (U.S.), the Expedited Release Payment is $2,000. For claimants in Class 6.1, the payment is $1,200, and for claimants in Class 6.2, the payment is $700. Remember, you must first submit and have your Proof of Manufacturer determined as acceptable, and, if you request and accept the Expedited Release Payment, this forever settles your Disease claim and you will not be eligible for any further Disease benefits (including Premium Payments on the Disease claim) in the future. The final deadline to apply for a Class 5 (Dow Corning breast implant recipients) Disease or Expedited Release claim is June 3, 2019.
The Disease / Expedited Release claim form is available on the CAC website (www.tortcomm.org) or on the SF-DCT website (http://www.sfdct.com/_sfdct/index.cfm/how-to-file-a-claim-for-benefits/claim-forms-by-class/). The Proof of Manufacturer form is also available on these websites or you can obtain a copy by calling the Settlement Facility.
STATUS OF PREMIUM PAYMENTS
There is no news on the status of Premium Payments. The ruling from the Court of Appeals is final and cannot be changed. The next step in this process is for the Finance Committee to make another recommendation to the District Court asking for approval to either complete the remaining Partial Premium Payments and/or to recommend the remaining 50% Premium Payment to be authorized. The Finance Committee is waiting on an analysis of this issue from the Independent Assessor, who is reviewing claims data and making projections about the availability of funds in the future. We expect to receive information on this in the fall of 2015, and we will update everyone at that time.
This is a reminder that thousands of checks totaling over $2.5 million in settlement payments have been either returned to the SF-DCT for various reasons or have not been cashed. In addition, stale Premium Payment checks total approximately $4 million. When a check is stale, it means that claimants did not receive the payment that they were approved for, primarily because the claimant could no longer be located.
Some of the reasons for stale checks are:
● the claimant no longer lived at the address provided and cannot be located. It is urgent that claimants keep their name and current address updated with the SF-DCT.
● the claimant has passed away and her surviving heirs have not filed the appropriate probate documents with the SF-DCT to take over the claim and receive payment . The executor for the deceased claimant should contact the SF-DCT for information on how to proceed and what forms are required to receive payment.
● the claimant has changed her name since she submitted a claim and the name on the check does not match her current name. Claimants can request that a new check be issued once they provide documentation of the name change.
● the claimant did not cash the check and it has gone stale. If you are holding onto a check that is past 180 days from its issuance, you must contact the SF-DCT and request a new check. Please note that new checks for partial Premium Payments cannot be issued at this time based on the ruling by the Court of Appeals for the Sixth Circuit.
When the SF-DCT closes in 2019, claimants with an approved claim but who cannot be located will not be able to recover any funds. It is extremely urgent that every claimant and law firm keep their contact information updated with the SF-DCT.
Please mark your calendar with the following claim submission deadline. Please note that this deadline means 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.
Type of Deadline
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: email@example.com 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.