CLAIMANTS' ADVISORY COMMITTEE E-NEWSLETTER
Dow Corning Bankruptcy Settlement
Volume 12, No. 7, August 4, 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 125th e-newsletter (Vol. 12, No. 7) 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.
STATUS OF THE CLASS 7 CONSENT ORDER
July 27, 2015 was the deadline to submit an objection to the proposed Class 7 Consent Order. The Consent Order is an agreement between the Claimants' Advisory Committee and Dow Corning to authorize payments to claimants who have an approved disease claim in Class 7 (Silicone Gel Material Claimants). The Plan requires court approval before disease claims can be paid from Class 7 since it is a capped fund. The Consent Order also proposes to authorize certain previously denied claims who had "failed marshaling" or who were deemed to be "inadequate marshaling" to be allowed to proceed for processing and, if approved, payment.
There were several dozen letters and other filings that were docketed by the court in response to the proposed Consent Order. Most of these letters were not true objections to the Consent Order, but comments on the terms of the original Plan of Reorganization. Other claimants submitted medical records and other documentation in support of their claim. The CAC has asked the Settlement Facility to correspond with these claimants and respond to their submission. We would like to inform claimants who submitted medical records or other personal information (like Social Security numbers, contact information, or other details about their personal lives) that all of this information is scanned and logged onto the court's docket. The court's docket is public, so these filings are also public. We are concerned that some claimants may not have realized this when they sent their documents to the court. The CAC will be corresponding with these claimants and law firms to clarify the claimant's intent in submitting their letter or documentation and to give them information about how they can withdraw their "objection" and/or ask that their personal medical records and information be protected.
WHAT HAPPENS NEXT?
The District Court has approved a Scheduling Order to handle the filings sent to the court. For purposes of the Scheduling Order, any individual who submitted a document in response to the proposed Consent Order is deemed to be an Objector. This means that if you sent in a letter – for any reason – you have been deemed to be an Objector. As noted above, the CAC will be in contact with Objectors to provide information on how they can withdraw their letter and status as an Objector if that is not what they intended to do. In the meantime, the Scheduling Order will be sent to these persons, and the terms and deadlines in the Scheduling Order will apply to them. The Scheduling Order sets the following deadlines:
● September 15, 2015 – deadline for the CAC and Dow Corning to file a response to the objections
● October 2, 2015 – deadline for the Objectors to file a Reply to the response filed by the CAC and Dow Corning
● October 15, 2015 – hearing in Detroit, Michigan at 11 am ET. The court will hear arguments from the CAC, Dow Corning, and the Objectors on the proposed Consent Order. If any Objector fails to appear at the hearing, the court may deny that objection with prejudice.
Sometime after October 15, 2015 (it will not be on October 15, 2015), the District Court will issue an opinion and Order on the proposed Consent Order. We do not know when the court will issue a ruling on whether it will approve the Consent Order. Claims in Class 7 cannot be paid until the Consent Order is entered. It could take a week, or it could take 6 months or more for the court to rule. Again, the court will NOT rule on October 15th. The District Court is not under any timetable or deadline to issue a ruling, and we do not know when it will happen.
You can view the entire Scheduling Order on the CAC website (www.tortcomm.org).
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.
Please do not send your W-9 to the CAC. Send the completed form to the Settlement Facility in Houston.
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 a written 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. Once the Finance Committee makes its recommendation, Dow Corning can still oppose it. There would likely be a hearing, and then the court would enter its opinion and Order sometime after that. Typically, an order is not entered immediately after a hearing. It usually takes several months or longer. Realistically, we do not see any hope that the remaining partial Premium Payments will be made this year, even though we will continue to do everything in our power to try and make this happen. We are very frustrated by this delay and we know from the comments we've received that you are frustrated as well. We will continue to relay your frustration and need for urgency to the Finance Committee.
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.