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Welcome to
The H. K. Porter Asbestos Trust
As previously noticed, pursuant to Article II Section 4.1 of the H.K. Porter Company, Inc. Asbestos
Claims Resolution Procedures, the Trustee has undertaken to review the applicable Payment Percentage.
Effective October 25, 2012, the payment percentage applicable to the H. K. Porter Asbestos Trust has been
reduced from 6.3% to 4.0%.
Claims which had previously received an offer but had not returned a valid release by the deadline
of July 24, 2012 to receive payment at the old rate will receive a new offer at the new rate.
As set forth in the Article II Section 4.1, the Trustee’s determination was based on the estimate
of the number of claims, types, and values of present and future Asbestos Personal Injury Claims, the
value of the Trust’s assets, the liquidity of those assets, the Trust’s expected future expenses for
administration and legal defense, and other material matters that are reasonable and likely to affect
the sufficiency of funds to pay a comparable percentage of full value to all Claimants with Asbestos
Personal Injury Claims. In performing this review and determination, the Trustee received and relied
on presentations and advice from his advisors.
NOTICE TO PERSONS FILING CLAIMS WITH THE
H. K. PORTER ASBESTOS TRUST
Effective July 23, 2008 the H. K. Porter Asbestos Trust resumed accepting asbestos personal
injury claims for processing. The Trust continues to follow the original Asbestos Claims
Resolution Procedures, for receiving, reviewing and paying claims. However, law firm filers
now have the option of filing their claims online using the Trust’s new online filing
system provided by Verus.
Instructions for
using the online filing system – along with
the Electronic Filing Agreement, claim form and
other related claims materials – are available
for download from the
Resources page
of this website. As an alternative to
downloading this information from the website,
you may also request these documents or
additional information by contacting the claims
administrator at the address shown on the
Contact Us page.
In order to gain
access to the online filing system, each law
firm must provide Verus with a newly executed
Electronic Filing Agreement for H. K. Porter. In
addition to the Electronic Filing Agreement,
Verus will also need the full name and email
address of the firm’s designated administrator
for use of the electronic filing system. Each
firm’s administrator will be provided with a
user account and will have the ability to create
and manage additional user accounts as needed by
the law firm.
Even
if you are already familiar with the online
filing system used by other trusts administered
by Verus, please also read the H. K. Porter
Asbestos Trust Online Filing User’s Guide
available for download on the
Resources page.
For an online tutorial on the use of the
system, please contact us and we will arrange a
mutually agreeable time for a web-based
demonstration.
The Trust strongly encourages using the
online system for all filings, deficiency responses and return of signed
releases going forward.
Firms
who decide to not use electronic filing will
need to execute an Affirmation from Law Firms
not Executing Electronic Filing Agreement.
Before submitting claims on behalf of
representatives of the injured party, they must
also execute a Representative Claim
Indemnification.
Effective February 2009, the Trust
increased its Payment Percentage from 4.6% to 6.3%. Any claim which had
previously received a post-bankruptcy claim payment is eligible for a
supplemental payment. See Supplemental Payment Policies and Procedures
on the Resources
page for additional information.
Questions may be directed to:
Verus
Claims Services:
Dan Myer at 609-466-0427 (ext. 1006) or
dmyer@verusllc.com
Mark Eveland at 609-466-0427 (ext. 1004) or
meveland@verusllc.com
The H. K. Porter Asbestos
Trust:
Nicole Snyder, Director at
nsnyder@gleason-cpa.com
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