CLAIMANTS' ADVISORY COMMITTEE E-NEWSLETTER
Dow Corning Bankruptcy Settlement
Volume 10, No. 1, January 30, 2013
'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 98th e-newsletter (Vol. 10, 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, click here or to reply to this newsletter, send an email to: info@tortcomm.org. Please do not hit "Reply" to this email address.
To contact the CAC, use the email address: info@tortcomm.org or dpend440@aol.com. You can also contact the CAC directly at 419-394-0717.
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1. STATUS OF PREMIUM PAYMENT MOTION
We do not have any updates on the status of the Premium Payment Motion pending before the District Court. We do not know when the Court will rule since there is no deadline by which a court must rule on a pending motion.
It is possible that the Court may be waiting for the resolution of the current appeal to the U.S. Court of Appeals on the time-value-credit decision before it will issue a ruling on whether to allow Premium Payments at this time. The appeal concerns whether the interest accrued on the Initial Payment of $1 billion is credited towards the money Dow Corning is obligated to pay the Settlement Fund, or whether, as the CAC contends, this money was negotiated to go to the benefit of claimants because of the delays in the bankruptcy. The District Court ruled in favor of the CAC and claimants on this issue. Dow Corning has appealed the decision. The appeal has been fully briefed and argued to the Court of Appeals. We anticipate a ruling from that court sometime this year. The CAC's position is that the payment projections show that Premium Payments can be made even if the Court of Appeals rules against the CAC on the appeal. We do not know if the appeal is the reason for the delay in getting a ruling on Premium Payments. We offer this only as a possible explanation.
2. REMINDER: THE EXPLANT DEADLINE IS JUNE 2, 2014
Claimants who have a Dow Corning breast implant and who want to be compensated for its removal must file a claim with the Settlement Facility by June 2, 2014. To be eligible for the $5,000 Explant benefit (Class 5), you must have your Dow Corning breast implant removed by June 2, 2014 and you cannot receive another silicone gel breast implant after that. To file a claim, you must submit the Explant Form and the operative statement from the Explant surgery. Only claimants in Class 5 and 6.1 (non-U.S. Dow Corning breast implant claimants) are eligible for the Explant Payment.
June 2, 2014 may seem like a long time away, but our experience has been that it often takes up to 6 months or more to schedule an appointment with your surgeon, schedule the surgery, and obtain the necessary medical reports (such as the Operative Report) to submit a claim by the deadline.
If your Dow Corning breast implant is not removed by June 2, 2014, then you cannot apply for the Explant benefit.
The approval rate for Explant claims is very high – over 99% of Class 5 claims have been approved. The ones that have been denied are primarily because claimants were re-implanted with a silicone gel breast implant. Please remember that if you choose to get another silicone gel breast implant, then you cannot be compensated for the Explant payment.
Claim forms are available on both the CAC website (www.tortcomm.org) and the Settlement Facility website (www.sfdct.com).
The Settlement Facility will be sending a reminder notice about the Explant Deadline in the near future.
3. STATUS OF PAYMENTS TO CLASS 7 APPROVED DISEASE CLAIMS
The CAC is continuing to work with the Claims Administrator and Dow Corning to finalize the process to issue payments to approved Class 7 Disease claims. All Class 7 claims have been processed and Notification of Status letters are pending with a small group. We are hopeful that a proposed order will be submitted to the Court in the near future and that this order will include resolution of the marshaling dispute. We will report more on this issue when everything is finalized.
All Class 7 Expedited Release Payments and Cash-Out Payments have been issued. The remaining payment in question is only is for claimants who rejected the Cash-Out offer, had their disease claim reviewed in full and are approved for payment.
4. PLEASE KEEP YOUR ADDRESS AND CONTACT INFORMATION CURRENT WITH THE SETTLEMENT FACILITY
It is very important that you keep your address and contact information current with the Settlement Facility. If you change your name, address or other contact information, please send an email to the Settlement Facility at: info@sfdct.com. Hundreds of letters and checks for benefits are returned to the Settlement Facility every year because claimants have moved and have not provided a new address. You will permanently lose your right to any approved payment that is returned and not cashed by the end of the Settlement Facility in 2019.
Also, if a claimant has passed away, their estate can still recover benefits. For more information, contact the Settlement Facility at info@sfdct.com and contact a probate attorney in the local area where the claimant resided. Before a payment for a deceased claimant can be issued, you will first have to be established as the Executor/Executrix of the estate.
5. CLAIMS REPORT THRU DECEMBER 2012
The Settlement Facility is current in processing new claims and re-reviews (documents submitted to address a deficiency in the claim documentation). Below is a chart summarizing the payments made to claimants in Class 5 (U.S. Dow Corning breast implant claimants) and Class 6.1 and 6.2 (non-U.S. Dow Corning breast implant claimants) through December 2012.
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CLAIM CATEGORY |
NUMBER OF CLAIMS PAID THROUGH DEC 31, 2012 |
PERCENTAGE OF CLAIMS APPROVED CLASS 5 | CLASS 6 |
TOTAL $$ PAID IN CATEGORY THROUGH DEC 31, 2012 |
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RUPTURE |
21,904 |
71% | 40% |
$ 421,573,823.94 |
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EXPLANT |
28,640 |
99% | 96% |
$ 138,620,185.07 |
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EXPLANT ASSISTANCE |
613 |
92% | 83% |
$ 3,028,641.10 |
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INCREASED EXPLANT (6.2 ONLY) |
286 |
N/A | 92% |
$ 620,900.00 |
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EXPEDITED RELEASE |
23,886 |
92% | 88% |
$ 44,397,606.43 |
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DISEASE OPTION 1 |
28,275 |
84% | 70% |
$ 417,057,141.03 |
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DISEASE OPTION 2 |
1,437 |
31% | 23% |
$ 184,504,959.42 |
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TOTAL |
105,041 |
N/A |
$ 1,209,803,256.99 |
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Below is a summary of payments to all classes in the Dow Corning Settlement Plan through December 2012:
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12/31/2012 |
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INCLUDES NOI PAYMENTS (DOES NOT INCLUDE STALE CHECKS) |
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RUPTURE |
EXPLANT |
INCREASED EXPLANT |
EXPLANT ASSISTANCE (EAP) |
EXPEDITED |
DISEASE |
MEDICAL CONDITIONS (IFBR, TMJ, IMPLANT FAILURE) |
OTHER PRODUCTS PREMIUM PAYMENT |
TOTAL |
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CLASS 5 |
$425,716,847.19 |
$139,447,282.87 |
N/A |
$3,191,841.10 |
$40,583,822.58 |
$590,824,331.97 |
N/A |
N/A |
$1,199,764,125.71 |
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CLASS 6.1 |
$13,989,750.51 |
$4,341,969.90 |
N/A |
$12,000.00 |
$3,050,643.85 |
$8,318,218.48 |
N/A |
N/A |
$29,712,582.74 |
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CLASS 6.2 |
$3,584,000.00 |
$237,500.00 |
$1,191,000.00 |
$0.00 |
$134,400.00 |
$2,419,550.00 |
N/A |
N/A |
$7,566,450.00 |
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CLASS 6.2 2 |
N/A |
N/A |
N/A |
N/A |
$109,700.00 |
N/A |
N/A |
N/A |
$109,700.00 |
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CLASS 6.2 3 |
N/A |
N/A |
N/A |
N/A |
$376,800.00 |
N/A |
N/A |
N/A |
$376,800.00 |
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CLASS 7 |
N/A |
N/A |
N/A |
N/A |
$22,853,917.39 |
$0.00 |
N/A |
N/A |
$22,853,917.39 |
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CLASS 9 |
$130,000.00 |
N/A |
N/A |
N/A |
$1,757,145.10 |
N/A |
$2,866,500.00 |
$14,215,000.00 |
$18,968,645.10 |
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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 |
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TOTAL |
$443,426,597.70 |
$144,026,752.77 |
$1,191,000.00 |
$3,203,841.10 |
$69,022,278.92 |
$601,562,100.45 |
$3,086,125.00 |
$15,265,875.00 |
$1,280,784,570.94 |
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RUPTURE |
EXPLANT |
INCREASED EXPLANT |
EXPLANT ASSISTANCE (EAP) |
EXPEDITED |
DISEASE |
MEDICAL CONDITIONS (IFBR, TMJ, IMPLANT FAILURE) |
TOTAL |
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CLASS 5 |
21,428 |
28,185 |
N/A |
645 |
20,499 |
28,332 |
N/A |
N/A |
99,089 |
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CLASS 6.1 |
1,169 |
1,465 |
N/A |
4 |
2,552 |
778 |
N/A |
N/A |
5,968 |
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CLASS 6.2 |
512 |
130 |
398 |
0 |
192 |
601 |
N/A |
N/A |
1,833 |
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CLASS 6.2 2 |
N/A |
N/A |
N/A |
N/A |
92 |
N/A |
N/A |
N/A |
92 |
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CLASS 6.2 3 |
N/A |
N/A |
N/A |
N/A |
628 |
N/A |
N/A |
N/A |
628 |
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CLASS 7 |
N/A |
N/A |
N/A |
N/A |
13,878 |
0 |
N/A |
N/A |
13,878 |
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CLASS 9 |
26 |
N/A |
N/A |
N/A |
1,758 |
N/A |
476 |
498 |
2,758 |
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CLASS 10.2 / 10.2 |
2 |
N/A |
N/A |
N/A |
261 |
N/A |
64 |
64 |
391 |
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TOTAL |
23,137 |
29,780 |
398 |
649 |
39,860 |
29,711 |
540 |
562 |
124,637 |
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.
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Deadline Date |
Type of Deadline |
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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) |
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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: 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.