CLAIMANTS' ADVISORY COMMITTEE E-NEWSLETTER

Volume 8, No. 8, August 31, 2011

Contact the CAC at:  info@tortcomm.org or

phone: (419) 394-0717

fax:  (419) 394-1748

 

Sybil Niden Goldrich

Ernest Hornsby, Esq

Dianna Pendleton-Dominguez, Esq.

 

 

This is the 86th e-newsletter (Vol. 8, No. 8) 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: info@tortcomm.org.  Please do not hit "Reply" to this email address.  Please use the email address:  info@tortcomm.org.

 

Requests for copies of claim forms or inquiries about the status of a claim should be directed to the Settlement Facility at info@sfdct.com or 866-874-6099.  The Claimants' Advisory Committee does not have access to individual claimant files to answer these kinds of questions.

 

1.  FINANCE COMMITTEE SEEKS ADDITIONAL DATA REGARDING ITS MOTION RECOMMENDING THAT PREMIUM PAYMENTS BE PAID

 

As previously noted, the Finance Committee filed a motion on June 30, 2011 recommending that the Court authorize Premium Payments in the amount of 50%, with payments to begin in 2012. (A copy of the motion is on the CAC's website at http://www.tortcomm.org/downloads/30June2011_Finance_Committee_Recommendation_Motion_for_Authorization.pdf.)

 

The Finance Committee recently indicated that it was seeking additional data and updated information regarding the availability of funds to make Premium Payments and asked that the Court allow for a short delay in the briefing schedule and hearing.  The CAC has repeatedly sought to expedite this process, consistent with the Plan language; however, we have agreed to a short extension of time for the Finance Committee to supplement its motion with more current claims data because we believe this data will strengthen the Finance Committee's recommendation.

 

2.  CLAIMS PAYMENT REPORT THROUGH JULY 2011

 

The Settlement Facility has released information about the status of claims processing and payments through JULY 31, 2011,  The information is summarized below:

 

Through JULY 31, 2011, the SF-DCT has received 77,250 Proof of Manufacturer claim forms in Classes 5, 6.1 and 6.2 (Dow Corning Breast Implant Claims).  Of this number, 65,348 or 84.59% have acceptable proof of at least one Dow Corning breast implant.  Of the 65,348 Dow Corning breast implant claimants with acceptable proof of manufacturer, almost 34% (one-third) or 21,854 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 JULY 31, 2011

PERCENTAGE OF CLAIMS APPROVED      CLASS 5  | CLASS 6

TOTAL $$ PAID IN CATEGORY THROUGH JULY 31, 2011

RUPTURE

21,854

71% | 40%

$     420,825,330.72

EXPLANT

28,367

99% | 96%

 $    137,333,216.11

EXPLANT ASSISTANCE

    589

92% | 80%

 $       2,910,641.10

INCREASED EXPLANT (6.2 ONLY)

   275

N/A | 91%

 $          822,000.00

EXPEDITED RELEASE

           22,599

92% | 87%

 $     42,323,533.35

DISEASE OPTION 1

           27,421

83% | 68%

 $   404,658,239.67

DISEASE OPTION 2

 1,362  

29% | 13%

 $   175,194,053.54

 

 

 

 

 

 

 

 

TOTAL

102,467

N/A

 $   1,184,067,014.49

 

 

Class 7 - Silicone Gel Material Claims

 

Approximately 15,071 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 $21.2 million.  The total fund is $57.5 million NPV. 


 

Class 7 - Silicone Gel Material Claims

# Class 7 Forms Filed

54,724

Failed Prescreen - Ineligible Implant -

Failed Marshalling

       37,625

Foreign Gel Claims Approved & Paid $600

    652

Expedited Release Claims Approved & Paid $600

  6,992

# of Disease Cash-Out Offers of $3,000

  7,427

TOTAL PAYMENTS OR CASH-OUT OFFERS

       15,071

TOTAL # of Claims Paid (excluding those who rejected the Cash-Out Offer)

       12,846

TOTAL AMT PAID as of 07/31/2011

$21,303,517.39

 

 

TOTAL CLAIMS PAID, ALL CLASSES THROUGH JULY 31, 2011

 

7/31/2011
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 5

$425,077,353.97

$138,204,671.37

N/A

$3,076,841.10

$39,146,299.50

$570,338,574.73

N/A

N/A

$1,175,843,740.67

CLASS 6.1

$13,917,750.51

$4,287,362.44

N/A

$9,000.00

$2,936,643.85

$7,239,418.48

N/A

N/A

$28,390,175.28

CLASS 6.2

$3,444,000.00

$220,000.00

$1,158,000.00

$0.00

$95,200.00

$2,274,300.00

N/A

N/A

$7,191,500.00

CLASS 6.2 2

N/A

N/A

N/A

N/A

$102,500.00

N/A

N/A

N/A

$102,500.00

CLASS 6.2 3

N/A

N/A

N/A

N/A

$131,400.00

N/A

N/A

N/A

$131,400.00

CLASS 7

N/A

N/A

N/A

N/A

$21,303,517.39

$0.00

N/A

N/A

$21,303,517.39

CLASS 9

$130,000.00

N/A

N/A

N/A

$1,757,145.10

N/A

$2,856,500.00

$14,175,000.00

$18,918,645.10

CLASS 10.2 / 10.2

$6,000.00

N/A

N/A

N/A

$155,850.00

N/A

$219,625.00

$1,050,875.00

$1,432,350.00

TOTAL

$442,575,104.48

$142,712,033.81

$1,158,000.00

$3,085,841.10

$65,628,555.84

$579,852,293.21

$3,076,125.00

$15,225,875.00

$1,253,313,828.44

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RUPTURE

EXPLANT

INCREASED EXPLANT

EXPLANT ASSISTANCE (EAP)

EXPEDITED

DISEASE

MEDICAL CONDITIONS (IFBR, TMJ, IMPLANT FAILURE)

TOTAL

CLASS 5

21,396

27,933

N/A

622

19,775

27,532

N/A

N/A

97,258

CLASS 6.1

1,163

1,446

N/A

3

2,457

686

N/A

N/A

5,755

CLASS 6.2

492

120

387

0

136

565

N/A

N/A

1,700

CLASS 6.2 2

N/A

N/A

N/A

N/A

86

N/A

N/A

N/A

86

CLASS 6.2 3

N/A

N/A

N/A

N/A

219

N/A

N/A

N/A

219

CLASS 7

N/A

N/A

N/A

N/A

12,846

0

N/A

N/A

12,846

CLASS 9

26

N/A

N/A

N/A

1,758

N/A

475

497

2,756

CLASS 10.2 / 10.2

2

N/A

N/A

N/A

261

N/A

64

64

391

TOTAL

23,079

29,499

387

625

37,538

28,783

539

561

121,011

 

 

 

 

3. 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.

 

 

 

Deadline Date

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)

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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:  info@tortcomm.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

Email:  info@tortcomm.org

 

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.