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Posted 04/29/2009
PLEASE TAKE NOTICE that a hearing on the motion to approve J.T. Thorpe Settlement Trust's Third Annual Report and Accounting is scheduled for Tuesday, June 9, 2009, at 2:00 p.m. before United States Bankruptcy Judge, Sheri Bluebond, in the U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, located at 255 East Temple Street, Courtroom 1475, Los Angeles, California 90012. View 2008 Annual Report
Posted 12/11/2008
Posted 03/16/2009
2009 Inflation
Claim payments made in 2009 will be adjusted for inflation, based upon the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The inflation adjustment for claims paid in 2009 is a reduction of .5%, compounded with the inflation factor of 4.3% for 2008. The total compounded inflation rate for claims paid in 2009 is 3.78%. The Trust’s current payment percentage is 40%.
Posted 12/15/2008
J.T. Thorpe Site/Ship List Updates
Modifications to the J.T. Thorpe Site and Ship lists were approved at the November 12, 2008 Trustees' meeting. The applicable lists have been updated and are available in the claim packet section. Please review and print the current list(s), which includes a modification column for reference purposes.
Posted 12/11/2008
J.T. Thorpe Payment Percentage
The J.T. Thorpe Settlement Trust recently reviewed its predicted indemnity based upon claims that have been filed with the Trust, and compared that to the Trust forecast of claims, to test the efficacy of the 50% payment percentage that was put in place upon commencement of the Trust. After much discussion, and in accordance with the provisions of the Trust Distribution Procedures, the Trust has proposed to reduce the payment percentage to forty percent (40%) pending outcomes of a more definitive study of what volume of claims the Trust can expect to receive in the future.
This reduction will give the Trust an opportunity to have an expert review all the data available and determine if the payment percentage needs to be adjusted. It is anticipated that the review will be done by spring 2009. The Trust will then make a decision about the payment percentage and notify you. If as a result of this process the payment percentage is adjusted to a level above 40% the difference between the amount previously recieved and the amount due under the revised payment percentage will be remitted to you at that time.
Posted 11/24/2008:
Offer and Release Documents
The J.T. Thorpe Settlement Trust is considering revisions to the form of offer letter and release for which the Trust has not received a signed release as of 2:00 p.m. today, November 24, 2008. Pending offers relating to these claims are hereby withdrawn and will be subject to a new form of offer letter which you should receive in the near future.
Posted 08/12/2008:
J.T. Thorpe Site/Ship List Updates/New Electronic Claim Template (ECT)
Modifications to the J.T. Thorpe Site and Ship lists were approved at the June 18, 2008 Trustees' meeting. The applicable lists have been updated and are available in the claim packet section. Please review and print the current list(s), which includes a modification column for reference purposes. The Electronic Claim Template (“ECT”) has been updated to include the new information, please utilize this new template.
Posted 05/21/2008:
Filing Fee Reminder
The Trust requires a $250.00 filing fee for each claim submitted to the Trust. When the claim is paid, the Trust refunds the filing fee. If the filing fee was paid by the claimant, one hundred percent of the fee must be returned to the claimant.
Posted 05/15/2008:
Attorneys’ Fees
The Trust is sending this reminder regarding the attorneys’ fees. The Trust Distribution Procedures (TDP) Section 8.4 states,
Attorneys’ fees payable in connection with Trust claims paid through this TDP, whether based on hourly rates or where calculated as a percentage of recovery, shall be the lower of the fee provided in the contract between claimant and counsel or 25% of the recovery, exclusive of costs chargeable to the claimant, which costs shall be deducted from the gross amount paid before computation of fees. This recovery shall be measured by the actual payments from the Trust to the claimant, not the liquidated value of the claim. Legal fees shall be paid as payment to claimants are made by the Trust.
2008 INFLATION ADJUSTMENT
All claim payments made in 2008 shall be increased by 4.3 percent to account for inflation. If you or your client has already received a payment in 2008, you will be receiving the additional amount before June 30, 2008.
Posted 10/04/2007:
J.T. THORPE SETTLEMENT TRUST TOLLING PERIOD
At the July 24, 2007 Trustee meeting, a resolution was passed which stated that the TDP and all other Plan Documents, as necessary, were to be amended to provide that all claims not barred by the applicable statute of limitations or repose at the Petition Date, as determined in Section 5.2 of the TDP, would be tolled as of the Petition Date (February 12, 2002) through and including October 16, 2007, without the need for the claimant to take any action..
Posted 05/03/2007:
INTERROGATORY REQUIREMENTS PER TDP SEC 6.2(a)
The Trustee, TAC, and Futures Representative at the April, 2007 Trustee meeting reviewed the general status of claim submissions and the supporting materials being provided. It is the consensus of the Trustee, TAC, and the Futures Representative that Section 6.2 (a) of the TDP needs to be followed by all claimants.
TDP Section 6.2(a) requires claims to be submitted with San Francisco Superior Court General Order 129 Form Interrogatories, Set 1 and Set 2. The Trust with the consent of the Trustee, TAC and Futures Representative has "Trust Abbreviated Interrogatories" on the Trust website. The abbreviated interrogatories can be used in place of the San Francisco Superior Court General Order 129. Other forms of interrogatories may be accepted by the Trust if they contain the same information as the abbreviated interrogatories on our website. Any current or future claims submitted without interrogatories will be deemed deficient and returned to the law firm.
Posted 03/23/2007:
J.T. Thorpe Settlement Trust – Post-Repair Shipboard Exposures
J.T. Thorpe Settlement Trust’s claims assessment process – the process by which the Trust develops and applies interpretations of the Trust Distribution Procedures and other processes governing claim liquidations -- is claim and fact driven. Recently, the Trust Advisory Committee brought to the Trust’s attention a potential issue – not yet raised in any claim submitted to the Trust -- regarding whether and, if so, under what circumstances, post-repair shipboard exposure claims could be liquidated under terms presently governing claims liquidation.
The Trust has investigated the issue and discussed it at two Trust meetings. It has concluded the following:
There is no historical basis grounded in J.T. Thorpe, Inc.’s experience in the tort system for evaluating and resolving these types of claims and no such claims have been submitted to this trust. The Trust has concluded that it would be inappropriate to attempt to establish a set of rules specific to post-repair shipboard claims beyond the rules set forth in the Trust Distribution Procedures and Matrix at this time. Any claims must be assessed on their evidence on a case by case basis.
The Trust can confirm, however, that while there may be differences in the evidentiary requirements and application of criteria to post-repair shipboard and land-based claims arising from factual differences between the types of claims (e.g., differences in the historical development of claims in the tort system and physical differences relating to the nature, location, and typical longevity of the work), the Trust finds no prohibition against post-repair shipboard claims in the governing distribution procedures and principles. Specifically, the Trust finds nothing in the Dumin case to preclude such claims. As with all claims, all relevant facts will be taken into account in assessing claims.
It is up to a potential claimant and/or the individual attorney representing a potential claimant to evaluate the evidence and to submit a claim if the claimant and/or the attorney believe there is a valid claim. Post-repair shipboard exposure claims should include, at a minimum and among other required supporting documents, the claimant’s sea records which show dates onboard the ship and the claimant’s occupation or where the claimant worked on the ship, as well as other independent documents of the ship’s history to support the claimant’s exposure to J.T. Thorpe, Inc.’s product or operations.
Amendment to Case Valuation Matrix
An amendment to Section VII d of the Case Valuation Matrix has been approved. The amendment includes: 1) the method by which minimum exposure periods may be calculated (calendar months, calendar days, work days, or work hours); 2) pro-rata awards for certain exposure periods less than the minimum period; 3) blended exposure rates; and 4) allocation of exposure time at multiple sites.
Posted 10/16/2006:
The J.T. Thorpe Settlement Trust is now accepting claims. Please see below for filling electronically and procedures re: filing fees. Please note, claims submitted without the proper filing fees will not be transferred into our claims processing system.
Electronic Claims Submissions
The electronic claim packet consists of an Electronic Claim Template (“ECT”), which is a Microsoft Access version of the Trust claim form, and an Adobe PDF file containing the supporting documents (“SD” file). Please note, the SD file must be named using a specific naming convention or the entire claim packet will not be transferred into our claims processing system until the Trust manually corrects the file name. An example of the specific naming convention is as follows: 123456789.SDJ.01 (123456789 represents the social security number of the claimant).
The Trust offers secure file transfer (FTP) accounts for the electronic submission of claims. For more information on this process, please send your name and telephone number, together with any initial questions to questions@jttstrust.com, and you will be contacted by the Trust’s network systems consultant. To request an FTP account, please send a facsimile to (775) 325-6207 including the following information:
1. Law firm’s name, address, telephone number, and facsimile number
2. Name and e-mail address of each attorney in the law firm intending to submit claims to the Trust
3. Name, e-mail address, and telephone number of each person to contact regarding the FTP account
4. Username and password for the FTP account
The Trust’s network systems consultant will follow up with the contact person(s) listed in the facsimile when the FTP account has been created.
As an alternative, the Trust will also accept electronic claims submissions via e-mail to claims@jttstrust.com. However, the ECT must be compressed (zipped) prior to sending. The compressed ECT and SD file must be attached to your e-mail.
Procedures re: Filing Fees
Pursuant to Section 6.5 of the Trust Distribution Procedures, a $250.00 filing fee is required per claim.
Procedures – Individual Claimant Processing Fees
1. If the claim is mailed, a check or money order in the amount of $250.00 payable to J.T. Thorpe Settlement Trust (“Trust”) must be enclosed with the claim.
2. If the claim is submitted electronically, a check or money order in the amount of $250.00 payable to J.T. Thorpe Settlement Trust must be mailed to P.O. Box 3397, Reno, NV 89505 and received by the Trust within seven days of the date the claim is submitted. If the check or money order does not designate the claimant for which the fee is being paid, an enclosure letter identifying the claimant or a copy of Section 2 of the Claim Form, with a notation on the top, stating “Claim submitted electronically,” must be included with the check or money order.
3. Upon receipt, the check or money order will be deposited and held in a Trust bank account. The funds will be assigned and held in a separate general ledger receivable account. No interest will be paid on the amount held.
4 The $250.00 fee is not refundable if the claim is denied.
5. The $250.00 fee will be refunded if a claim is approved and paid.
Procedures – Prepaid Processing Fees
To accommodate firms who expect to submit multiple claims, we offer a prepaid system, which will be maintained as follows:
1. For example, XYZ Law Firm (“XYZ”) expects to represent forty claimants. XYZ may remit a check payable to J.T. Thorpe Settlement Trust (“Trust”) in the amount of $10,000.00. These funds will be deposited and held in a Trust bank account. XYZ may also deposit the funds directly in the Trust bank account via wire transfer (wire transfer instructions will be provided upon request). The funds will be assigned to a separate general ledger receivable account to be used for future claims processing fees for claims submitted by XYZ only. No interest will be paid on the funds held.
2. Each time XYZ submits a claim to the Trust on behalf of a claimant, $250.00 will be transferred from the main general ledger account of XYZ to a sub account of XYZ. At such time as XYZ requests, the Trust will provide a written accounting of the funds available.
3. The $250.00 fee is not refundable if the claim is denied.
4. The $250.00 fee is eligible to be refunded if a claim is approved and paid. At that time, the fee will be credited to XYZ’s general ledger account to be used for future claims processing fees or refunded to XYZ upon request.
5. Any funds remaining in XYZ’s general ledger account will be refunded upon request.
Posted 09/25.2006:
J.T. Thorpe Settlement Trust-Claims Processing Seminar Announcement
Your law firm has been identified as an asbestos litigation firm that may be interested in receiving information about plans for the processing of asbestos claims arising from J.T. Thorpe, Inc, a California Corporation, Thorpe Holding Company; and Thorpe Technologies, Inc.(hereafter J.T. Thorpe, Inc.)
J.T. Thorpe, Inc. emerged from bankruptcy this summer and pursuant to an order of the United States Bankruptcy Court, Central District of California, Los Angeles Division. The J.T. Thorpe Settlement Trust has been created to process the asbestos claims of the entities. J.T. Thorpe, Inc. was a refractory contractor that did work primarily at Southern California shipyards, oil refineries, power plants, and other major industrial sites.
This new trust should not be confused with the “J.T. Thorpe Company Successor Trust”, which is a bankruptcy trust operating in Texas and is accepting claims for the work of a separate and wholly independent company called JT Thorpe Company, a Texas corporation, which did refractory work in Texas and Louisiana.
The J.T. Thorpe Settlement Trust (www.jttstrust.com) came into being on June 29, 2006. It entered into a Trust Facilities and Services Sharing Agreement with the Western Asbestos Settlement Trust in Reno, Nevada (www.wastrust.com). Under this agreement the J.T. Thorpe Settlement Trust will share the administrative and claim processing services and facilities with the current Western Asbestos Settlement Trust management and staff in Reno, Nevada. There are significant similarities in the claim processing requirements of the two Trusts and this sharing agreement will result in a more efficient and economical operation for both Trusts for the benefit of both current and future claimants.
In preparation for accepting claims this fall, the J.T. Thorpe Settlement Trust has scheduled a web-hosted claim processing seminar on September 28, 2006, starting at 11:00 a.m. PDST. The seminar is expected to last approximately one hour and a half and will focus on a high level overview of the claims processing system, including major distinctions with the Western system. For those firms that are new to this system approach, please contact the Trust directly to schedule a follow up meeting.
Beginning on September 25, 2006, participants will be able to access the J. T. Thorpe Settlement Trust claim form, instructions, and site and ship lists on the trust web site listed above. |
