Funds Received Ratio Increase

Posted 06/04/2019
The Trustees, with the consent of the TAC and the Futures Representative, have increased the Funds Received Ratio to 11.5% 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, including pre-petition liquidated claims, should receive the additional amounts due as a result of this Funds Received Ratio increase by August 15, 2019.

Trustee Retirement

Posted 05/03/2019
The Trust has entered into a Transition Agreement regarding Trustee resignation with Stephen M. Snyder attached here

Annual Report

Posted 05/02/2019
PLEASE TAKE NOTICE that a hearing on the motion to approve Plant Asbestos Settlement Trust’s Seventh Annual Report and Accounting is scheduled for Tuesday, July 2, 2019 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.

Modifications to Site List

Posted 04/16/2019
The following modifications to the Plant Land Site List were approved at the Trustees’ Meeting:

Army Ordinance Depot (AKA Norris Army Ordinance Depot) – Riverbank, CA – Start Date 4/4/1952 – End Date 12/31/1958 – Rating Standard
Army Ordinance Depot (AKA Norris Army Ordinance Depot) – Riverbank, CA – Start Date 1/1/1959 – End Date 12/31/1978 – Rating Very Low
Italian Swiss Colony (La Paloma Winery) – Clovis, Ca – Start Date 6/1/1950 – End Date 12/31/1978 – Rating Very Low
Porterville State Hospital (Ward Residence Buildings Only) – Porterville, Ca – Start Date 3/1/1954 – End Date 3/1/1955 – Rating Standard
Porterville State Hospital (Ward Residence Buildings Only) – Porterville, Ca – Start Date 3/2/1955 – End Date 12/31/1978 – Rating Low
Arco Refinery (Atlantic Richfield) – Carson/Wilmington, Ca – Start Date 1/1/1960 – End Date 12/31/1963 – Rating Low
Bank Of America World Headquarter (555 California Street) –  San Francisco, Ca – Start Date 10/23/1967 – End Date 12/31/1978 – Rating Very Low
Firestone Tire & Rubber – Salinas, CA – Start Date 1/1/1957 – End Date 12/31/1978 – Rating Standard
Napa State Hospital – Imola/Napa, CA – Start Date 1/1/1951 – End Date 12/31/1978 – Rating Low
Naval Air Station (Cafeteria Only) – Fallon, NV – Start Date 1/1/1957 – End Date 12/31/1978 – Rating Very Low
Pacific Ship Repair – Pier 36 San Francisco, Ca – Start Date 1/1/1948 – End Date 12/31/1978 – Rating Low
PG&E – Antioch Powerhouse (AKA Contra Costa) – Antioch, CA – Start Date 1/24/1950 – End Date 12/31/1978 – Rating Standard
Schlage Lock Company – San Francisco, Ca – Start Date 9/24/1973 – End Date 12/31/1978 – Rating Very Low
Soledad State Prison – Soledad, CA – Start Date 2/1/1951 – End Date 12-31-1978 – Rating Low

Plant Asbestos Approved Modifications

Posted 04/16/2019
Modifications to the Trust Distribution Procedures were approved by the Trustees, with consent of the Futures Representative and Trust Advisory Committee, as follows:

Trust Distribution Procedures

 Section 6.2 (j) Claim Materials

Information sufficient to establish that the claimant is not eligible nor has received Medicare benefits. Information representing that the date of last exposure to Plant Asbestos  asbestos products or operations happened before or after December 5, 1980. Information of satisfied Medicare lien or global settlement documentation.

2019 Indexed Base Case Values for Economic and Medical Loss

Posted 04/16/2019
The new indexed base cases values for 2019 are as follows:

2019 Economic Loss Base Case $213,000
2019 Medical Loss Base Case $218,000
2019 Assumed Future Medical Loss and Funeral Expenses $81,819