North
of England Asbestos Victims Support GroupsTurner & Newall (T&N)
North
of England Asbestos Victims Support Groups
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Many claimants will have been advised by their solicitors about the Federal Mogul trust distribution procedure and proposed payment by T&N’s insurers. We are sending out this newsletter principally for those claimants who have not heard from their solicitors. Our information is based on advice that Anthony Coombs, solicitor, has provided to T&N claimants.
Claimants who have received a large package of information with voting papers from Federal Mogul should put them to one side. The legal advice is that you should NOT vote at this stage. Your solicitors will advise you what to do at a later stage.
This is because the Plan to distribute T&N’s assets favours US claimants and disadvantages UK claimants. The Administrators, Kroll, are trying to improve the Plan for UK claimants.
Federal Mogul: Trust Payments to ALL Claimants
ALL T&N claimants will eventually receive a payment from Federal Mogul. This payment will be very small, perhaps 5% to 10%.
‘All’ T&N claimants includes: those who worked for T&N; those who were exposed to asbestos from workers’ work clothes; and those exposed to asbestos near T&N factories.
It may take several years to pay ALL T&N claimants some money.
Payment from Insurers: Exposure After 1969
The insurers, Royal & SunAlliance and Lloyds Syndicate, have come to an agreement with the Administrators on payment to T&N claimants who worked for T&N and were exposed to asbestos after 1969. (T&N had no effective insurance prior to 1969).
The agreement means that insurers will pay T&N claimants who worked for T&N about 70% of the payment they would have got had they gone to court.
Some claimants will have been exposed to asbestos before and after 1969. Those who have pleural plaques, pleural thickening or asbestosis, who were exposed before 1969 as well as after 1969, will have their payment reduced proportionately for their exposure before 1969. Those suffering from mesothelioma or lung cancer will be paid the full amount, about 70% - there will be no proportionate payment.
Payment should be made within months, not years - hopefully before the end of the year.
There is some good news for T&N claimants who were exposed to asbestos after 1969. The insurers have reduced their liability, but there is at least some certainty for those claimants.
We will continue to protest at the negligible payments to be made to ALL T&N claimants.
On behalf of the Northern Asbestos Victims Support Groups