Duro Dyne Asbestos Trust: Claims and Payment

Channeled asbestos claims against Duro Dyne National Corp., et al. are resolved by the Duro Dyne Asbestos Personal Injury Trust under the Third Amended Prenegotiated Plan of Reorganization, as modified, dated June 6, 2019. The plan and the trust agreement establish the trust, which operates under Trust Distribution Procedures that list five disease levels. The levels run from Severe Asbestosis (Level I) up to Mesothelioma (Level V), which carries a $140,000 scheduled value. The procedures also provide that scheduled values rise by one percent per year starting January 1, 2022, and the trust publishes a notice of inflation-adjusted values each year. The trust site states an initial payment percentage of 20%. A notice dated July 10, 2026 says the 20% figure is the one currently applied to claims. The notice also says the trustee is reconsidering the percentage and that the proposed new figure is 40%. Under the procedures, a change requires the consent of the trust advisory committee and the future claimants' representative. A proposed figure is not in effect until adopted.