I'm trying to catch up guys and I will correct the links to the McGladry reports but in the meantime, I want you guys to see In Hale's comment and statistics regarding the effects of 495:
$ 795 MILLION DOLLARS IN CLAIM OFFERS VAPORIZED.
When concrete turns to quick sand.
While everyone's attention was diverted with the CA and BP’s quest to seek justice by SCOTUS a little adjustment was made at the claim center reported numbers.
Prior to and at the Fairness Hearing we were told the settlement was clear, transparent and working as negotiated.
"I guess you can call that the hook so that claimants wouldn’t OPT OUT."
MR. GODFREY: 10:04 am Fairness Hearing Transcript.
The settlement is working as we anticipated and as we negotiated with Mr. Rice and Mr. Fayard.
Mr. Roy: 12:34 pm Fairness Hearing Transcript.
We did not want a hundred-plus-thousand claimants being subjected to what many people perceived were subjective claim reviews, like at the GCCF, or some kind of star chamber subjective evaluation that they just didn't -- that wasn’t transparent.
Mr. Roy: 12:35 pm Fairness Hearing Transcript.
So transparency was critical. To have it transparent, you had to have your compensation and your
causation calculation formulas objectively ascertainable. They are. That's what this settlement does.
Now for the slide of hand and a wave of the magic wand presto change oh.
In comes Policy 495 generated by captured data submitted to the claim center.
That's right last week $ 795 MILLION DOLLARS in Eligibility Offers were pulled back from the BEL class.
VAPORIZED RIGHT FROM UNDER YOU NOSE!
Out of this amount $ 684 MILLION was Accepted Offers pending payments most with signed releases.
NO LONGER VALID OFFERS OR APPEALS WON WAITING FOR PAYMENT.
My BEL claim has been stuck in Policy 70 Review for 2 months now. Do you know if there is anything I can do on my end to get it moving any faster?
Do you know where one can find the Fairness Hearing Transcript?
It's hilarious (and sad) how much emphasis was placed on transparency and objective standards claims vendors have been given more and more "discretion" over vital aspects of claims.
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