Expedited Review

Expedited review is the faster, fixed-value way most asbestos bankruptcy trusts process claims. A claim that meets the trust's medical and exposure criteria for a disease level is paid that level's scheduled value, multiplied by the trust's payment percentage.

Origin

The approach was built into trust distribution procedures as asbestos trusts multiplied in the 1990s and 2000s, to process large numbers of claims consistently without individual negotiation.

Significance in Asbestos Context

Expedited review is quick and predictable, but it pays only the scheduled value, regardless of the claimant's age, income or family. Claims that may be worth more (for example, a younger mesothelioma claimant with dependents, or strong product exposure) can instead go through individual review, which takes longer and requires more evidence but can pay above the scheduled value, up to the level's maximum. Claims that do not meet the expedited criteria can also be submitted for individual review. Lawyers choose the path trust by trust.

Example Sentence

The lung cancer claim met the trust's criteria for its lung cancer level and was paid on expedited review at the scheduled value times the trust's payment percentage.

Related Terms

Trust Distribution Procedures, Scheduled Value, Payment Percentage, Claims Matrix, Bankruptcy Trust Claim, 524(g) Trust

Notes

• Ask your lawyer which trusts your claim will go through on expedited review and which on individual review, and why.
• Medical records and exposure evidence must meet each trust's specific criteria; gaps can push a claim out of expedited review.