As of May, 99% of all Claims Questionnaire determinations have been accepted and are final, and the Trust has paid $12.31 billion to claimants. This includes over $1 billion the Trust paid to roughly 52,000 claimants following the April 25th pro rata payment percentage increase to 66%.
We have heard anecdotally that some claimants haven’t received their pro rata increase yet. For claimants represented by lawyers, the Trust issues payment to the law firm or to a payment processing firm if the law firm is working with one. The firm then disburses funds to the claimants according to their representation agreement. Represented claimants should contact their law firm with any payment questions. Pro se claimants receive payments directly from the Trust and are encouraged to contact the Trust with any questions.
I am happy to report that nearly 90% of eligible claimants have submitted both required releases. As a reminder, only eligible claimants whose claims have been finalized and who have submitted both releases are eligible to receive payment going forward. The Trust issues payments twice a month, and the sooner we receive releases from the remaining claimants, the sooner we can issue their payments.
Finally, I was pleased to see an increase in Minors Compromise submissions after writing last month to encourage lawyers and guardians to focus on getting their minors’ claims submitted to Special Master, Judge Ellen Sickles James. Over 42% of Minors Compromises are now finalized, allowing the Trust to pay those claims.
We are working hard to finalize the claims process. Thank you for making continued progress accepting notices, submitting releases, and finalizing Minors Compromises. These are vital steps to winding down the Trust.
