H. K. Porter Asbestos Trust
Notice was provided on December 20, 2013, that the trustee, pursuant to H. K. Porter, Inc. Asbestos Claims Resolution Procedures Article II Section 4.1, commenced a review the applicable Payment Percentage. As set forth therein, the Trustee’s determination of the appropriate Payment Percentage is based on the estimate of the number of claims, types, and values of present and future Asbestos Personal Injury Claims, the value of the Asbestos Trust’s assets, the liquidity of those assets, the Asbestos 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. As a result of the review and analysis, the trustee, with the consent of the Trust Advisory Committee, has reduced the Trust’s Payment Percentage from 4.0% to 3.0% effective June 10, 2014.
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.
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 Verification Form.
Questions may be directed to:
Verus Claims Services:
The H. K. Porter Asbestos Trust:
Nicole Snyder, Director