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Common Law Direct Action Settlement Fund Distribution Procedures

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Common Law Direct Action Settlement Fund Distribution Procedures COMMON LAW DIRECT ACTION SETTLEMENT FUND DISTRIBUTION PROCEDURES These Common Law Direct Action Settlement Fund Distribution Procedures (these “FDP”) implement the provisions of the Common Law Settlement Agreement and include the procedures for determining and resolving all Claims. 1. DEFINITIONS 1.1. “Administrator” shall mean the Person who shall administer the Common Law Direct Action Settlement Fund in accordance with the Common Law Settlement Agreement, the Common Law Settlement Order, the FDP Order and the purposes set forth in Section 2 herein. 1.2. “Administrator Expense Fund” shall mean the sum of (a) the payment that Travelers makes to the Administrator in the aggregate amount not to exceed four million dollars ($4,000,000.00), pursuant to Paragraph 3(b) of the Common Law Settlement Agreement, plus (b) any Processing Fees and Arbitration Deposits. 1.3. “Arbitration Deposit” shall equal five hundred dollars ($500.00) per arbitration. 1.4. “Bankruptcy Cases” shall mean the cases filed under Chapter 11 of Title 11 of the United States Code with the Bankruptcy Court entitled In re Johns-Manville Corp. et al. and bearing Case Nos. 82 B 11656, 82 B 11657, 82 B 11660, 82 B 11661, 82 B 11665 through 82 B 11673 inclusive, 82 B 11675 and 82 B 11676 (CGM). 1.5. “Bankruptcy Court” shall mean the United States Bankruptcy Court for the Southern District of New York. 1.6. “Bilateral Asbestos-Related Nonmalignant Disease” shall mean a disease evidenced by an x-ray reading of 1/0 or higher on the ILO scale, or bilateral pleural plaques or pleural thickening (or, if an ILO reading is not available, a chest x-ray reading, CT scan reading, or other medical diagnosis that indicates bilateral interstitial fibrosis, bilateral interstitial markings, bilateral pleural plaques or bilateral pleural thickening consistent with, or compatible with, a diagnosis of asbestos-related disease) or pathological evidence of asbestosis. 1.7. “Business Day” shall mean any day which is not a Saturday, a Sunday, a “legal holiday” as defined in Rule 9006(a) of the Federal Rules of Bankruptcy Procedure, or a day on which banking institutions in the State of New York are authorized or obligated by law, executive order or governmental decree to be closed. 1.8. “Claim” shall mean any right or remedy against Travelers including, without limitation, all claims, counts, cross-complaints, counterclaims, affirmative defenses, writs, demands, inquiries, requests, suits, lawsuits, rights, actions, damages, liens, contracts, policies, indemnity or defense obligations, agreements, promises, undertakings, claims for indemnity, contribution or the like, liabilities, judgments, settlements, losses, costs, expenses, administrative proceedings, directives, governmental actions or other causes of action or orders, whether known or unknown, asserted or unasserted, manifested or unmanifested, secured or unsecured, matured or unmatured, disputed or undisputed, foreseen or unforeseen, fixed or contingent, direct or indirect, whether in law, equity, bankruptcy, admiralty or otherwise, relating in any way whatsoever to bodily injuries, death or damages of any kind or nature to a Claimant (including, but not limited to bodily injury illness or death, loss of consortium (including spousal, children’s or parental consortium), loss of love, society and companionship, medical monitoring, fear of cancer, attorneys’ fees, expenses, and penalties or recompense) arising from or relating in any way to asbestos, exposure to asbestos, knowledge about asbestos or the handling, defense, trial, appeal or settlement of asbestos-related claims or the participation in the handling, defense, trial, appeal or settlement of asbestos-related claims, further including but not limited to claims for economic damages, consequential damages and punitive damages. 1.9. “Claimant” shall mean a Person who timely files a Claim Form with respect to a Claim arising from a diagnosis of an asbestos-related disease and either (a) is a Person listed on Exhibit A attached hereto as referenced in the Common Law Settlement Agreement as Exhibit C or (b) is a Person who could have filed a viable direct action lawsuit against Travelers that directly or indirectly was based upon, arose out of or related to Travelers’ insurance relationship with Manville. 1.10. “Claim Form” shall mean the claim form substantially in the form attached hereto as Exhibit B and any supporting documentation that a Claimant may submit therewith. 1.11. “Claim Form Deadline” shall have the meaning given it in Section 6.2(a) herein. 1.12. “Claim Form Review Period” shall have the meaning given it in Section 6.6 herein. 1.13. “Common Law Direct Action Settlement Fund” shall mean the fund created pursuant to the Common Law Settlement Agreement. 1.14. “Common Law Settlement Agreement” shall mean that certain Settlement Agreement dated as of May 21, 2004, as amended on May 25, 2004, by and between the Common Law Settlement Counsel and Travelers, as the same may be amended, modified or supplemented from time to time. 1.15. “Common Law Settlement Agreement Date” shall mean May 25, 2004. 1.16. “Common Law Settlement Counsel” shall have the meaning ascribed to it in the Common Law Settlement Agreement. 1.17. “Common Law Settlement Order” shall mean the Order Approving Settlement of the Statutory, Hawaii and Common Law Direct Actions and Clarifying Confirmation Order, Including Insurance Settlement Order and Channeling Injunction, that the Bankruptcy Court entered in the Bankruptcy Cases on August 17, 2004, as amended by subsequent decisions up to and including Travelers Indemnity Co. v. Bailey, 129 S. Ct. 2195 (2009). 1.18. “Confirmation Order” shall mean the order that the Bankruptcy Court entered in the Bankruptcy Cases on December 22, 1986 confirming the Second Amended and Restated Plan of Reorganization proposed by Manville. 2 1.19. “Entity” shall mean any corporation, limited liability entity, partnership, association, trust and any other entity (including any estate, guardian or beneficiary thereof) or organization, including without limitation any federal, state or local government, or quasi- governmental body or political subdivision, department, agency or instrumentality thereof, or any Person. 1.20. “FDP Order” shall mean the Order Approving (A) the Common Law Direct Action Settlement Fund Distribution Procedures and (B) the Common Law Direct Action Settlement Fund Claim Form. 1.21. “Final Order” shall mean an order as to which the time to appeal, petition for certiorari or file a motion for reargument or rehearing has expired, and as to which no appeal, petition for certiorari or other proceeding for reargument or rehearing shall be pending or as to which any right to appeal, petition for certiorari or file a motion for reargument or rehearing shall have been waived in writing by the Person or Entity possessing such right or, in the event an appeal, writ of certiorari or motion for reargument or rehearing has been sought or filed, such order shall have been affirmed by the highest court to which such order was appealed or certiorari has been denied and the time to take any further appeal or petition for certiorari shall have expired. 1.22. “Hawaii Direct Action Claims” shall mean (a) the putative class action lawsuits captioned Lorenzo Baclaan et al. v. Combustion Engineering, Inc. et al., Case No. 03-00325, United States District Court for the District of Hawaii, and George Toro et al. v. Combustion Engineering, Inc. et al., Case No. 03-00326, United States District Court for the District of Hawaii, (b) the lawsuit captioned Theodore K. Hopkins et al. v. Combustion Engineering, Inc. et al., Case No. 03-00401, United States District Court for the District of Hawaii; and (c) any other Claim against Travelers, whether under a statute, common law or otherwise, asserted or unasserted, arising from or relating to Travelers’ alleged acts, omissions or involvement of any type in the handling, defense, trial, appeal or settlement of any Claim or the participation or alleged participation in any way relating to the handling, defense, trial, appeal or settlement of any Claim by any Person against Combustion Engineering, Inc. (and its past, present or future parents, subsidiaries, divisions or affiliates) filed in any state or federal court located in Hawaii. 1.23. “Hawaii Direct Action Settlement Fund” shall mean the fund created pursuant to the Hawaii Settlement Agreement. 1.24. “Hawaii Settlement Agreement” shall mean that certain Settlement Agreement, dated as of May 21, 2004, made and entered into by and between (a) the Hawaii Direct Action Settlement Counsel (as defined therein) on behalf of all Persons who have asserted Hawaii Direct Action Claims and (b) The Travelers Indemnity Company and Travelers Casualty and Surety Company (formerly known as The Aetna Casualty and Surety Company). 1.25. “Level I Claim” shall have the meaning given it in Section 6.4(a)(i) herein. 1.26. “Level II Claim” shall have the meaning given it in Section 6.4(a)(ii) herein. 1.27. “Level III Claim” shall have the meaning given it in Section 6.4(a)(iii) herein. 3 1.28. “Level IV Claim” shall have the meaning given it in Section 6.4(a)(iv) herein. 1.29. “Manville” shall mean Johns-Manville Corporation, Manville Corporation, Manville International Corporation, Manville Export Corporation, Johns-Manville International Corporation, Manville Sales Corporation (f/k/a Johns-Manville Sales Corporation, successor by merger to Manville Building Materials Corporation, Manville Products Corporation and Manville Service Corporation), Manville International Canada, Inc., Manville Canada, Inc., Manville Investment Corporation, Manville Properties Corporation, Allan-Deane Corporation, Ken-Caryl Ranch Corporation, Johns-Manville Idaho, Inc., Manville Canada Service Inc., and Sunbelt Contractors, Inc. 1.30. “Manville Trust” shall mean the Manville Personal Injury Settlement Trust created pursuant to the Second Amended and Restated Plan of Reorganization confirmed by the Confirmation Order. 1.31. “Person” shall mean any individual or group of individuals, their heirs, executors, representatives, administrators, estates, agents, successors and assigns.
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