Because of the dispute between the company and insurers, the administrators devised a compromise, a system to set up two funds for sufferers to claim against. The first fund is an employers liability scheme trust where claimants could receive two thirds of the full value of their claims, £70,000 out of £100,000. The second is an additional trust fund set up by the company to pay creditors under a Company Voluntary Arrangement (CVA). Sufferers could claim against both funds. For the CVAtowork, at least 75% of the creditors have to vote for it. At the meeting forms were distributed so that members could vote for the proposals which need to arrive with the administrators no later than September 1. The vote will be registered at a meeting in Manchester on September 6. If diagnosed, sufferers have three years to make aclaim. Mesothelioma can have an incubation period of up to 30 years. |