Business Services Industry
DOW CORNING OUTLINES PLAN FOR PAYMENTS ON IMPLANTS.
Business Insurance, November, 1998 by BRADFORD, MICHAEL
BAY CITY, Mich.-Dow Corning Corp.'s $3.2 billion proposal to settle breast implant cases offers claimants a range of payments or the option to reject the settlement and seek a jury trial. The company and the Tort Claimants Committee last week filed with the U.S. Bankruptcy Court of the Eastern District of Michigan a new plan aimed at resolving breast implant and other product liability claims.
If it is approved by Judge Arthur Spector, claimants will be asked to vote whether to accept the settlement. Dow Corning and the claimants committee agreed to the $3.2 billion proposal negotiated by a federal mediator earlier this year (BI, July 13) and on Nov. 9 submitted to the court details on how payments would be offered. A portion of the plan will be funded by...
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