Document Lwpvyk0rRpRD6go7B2NJwxLq

FILE NAME: Philip Carey (PC) DATE: 1988 Sept 2 DOC#: PC076 DOCUMENT DESCRIPTION: Legal-Settlement Proposal of Celotex & Carey Canada MEALEY'S LITIGATION REPORTS _____ ASBESTOS C- 1988 MEALEY PUBLICATIONS. INC. uwwMnwT Jtm carport ton M T o m m iH n iw ioiim w itiiw M k U n tttu ! September 2, 1988 CELOTEX eiasnema Attached is e copy of the settlement guidelines that era being adopted by Celotex and Carey Canada Xnc. effective September 1, 1988. I hops that you will review these materials with your clients and that a mutually agreeable resolution can be made on thoae cases being handled by you. Thank you ibryour consideration and cooperation in this regard. TO PLAINTIFFS' COUNSEL As attorney for The Celotex Corporation and Carey Canada Znc., X have been requested to correspond to you on behalf of the Companies regarding the status of asbestos-related bodily Injury litigation. As you are aware, the Asbestos Claims Facility is scheduled to be dissolved October 3, 1988, and under an agreea>ent between its atembara, any producer member who so elects may resume handling its own eases, effective September 1, 1988. The celotex Corporation and Carey Canada Inc. have elected to reeuae handling all aabeatoa-ralatad bodily injury claims in which they ere nemed defendants as of September 1, 1968. Robert W. Emarton, III Tho Celotex Corporstion/Carsy Canada Inc. Aabaitos Litigation Settlement Guidelines Effective Date: 9/1/68 Smoker Non-Smoker The Celotex Corporation end Carey Canada Xnc. continue Sickness Category I to be involved in litigation with several of thair insurance carriers over the application of a significant amount of lnauranca oovaraga to tha asbastoa-related bodily injury X casaa. Cslotex and Caray Canada have available e limited Exposure Only 0 amount of lnauranca proceeds to apply to asbeatoa-ralated bodily Injury cases until final daterainationa ara made on the application of the disputed insurance policies. XX Accordingly, the Celotex Corporation and Cafay Canada Xnc. Pleural Changs ISO have elected to adopt settlement guidelines which apacify tha amount that thesa compaas will pay on apecifiad categories of aebeatoe-ralated bodily Injury cease. XXX other Cancer 1.500 We believe that the amounts providsd in the settlement guidelines will fairly and adaquately compensate claimants alleging injury by asbestos or asbestos-related products IV supplied or manufactured by these Companies. This will also Asbestosla 1,500 insure that all claimants with similar dlsaasas will be treated equally. By adhering to these guidelines, Celotex and Carey Canada Xnc. baliava that they will have sufficient lnauranca assets available to fund the defense and settlement of cases that mature in tha near future. It la V Lung Cancer 3,500 our hope that this approach will help to eliminate the backlog of e n e a that are currently pending in the courts across tha United States. VI Mesothelioma 3,000 0 150 2,000 2,000 4,500 5,000 Nothing contained herein should ba conatruad as an admission of liability or wrongdoing in any asbestoe-ralated casa. This approach is baing adopted to encourage the resolution of meritorious cases at a fair and reasonable amount and an amount that la within the resources of the Companies. This does not constitute an offer to settle any particular case. The above amounts will ba offered where certain exposure, disease and other basic criteria are met. The amounts apply If Calotax only is a defendant, if Celotex and Carey Canada are both defendants or if Carey Canada is a defendant and the case involves a plant worker. If only Carey Canada is a defendant in a c u e not involving a plant worker, one half of tha amounts apply. In all Instances, releases shall include both Celotex and Carey Canada.