The applicability and effect of a statute of limitation upon a claim made to the Trust depends upon whether the claim was filed against OC/FB within the tort system prior to October 5, 2000, the date that OC/FB filed its petition for protection under the Bankruptcy Code (the “Petition Date”). Claims filed against OC/FB prior to the Petition Date are not affected by the bankruptcy and are therefore subject to the applicable federal, state and foreign statute of limitation and repose that was in effect at the time the claim was filed within the tort system.
Any claim not filed against OC/FB within the tort system prior to the Petition Date is subject to the applicable federal, state or foreign statute of limitation and repose that was in effect at the time the claim was filed with the Trust. However, the statute of limitations is tolled by the earlier of any one of the following events:
- The actual filing of a claim against OC/FB prior to the Petition Date, whether in the tort system or by submission of the claim to OC/FB pursuant to an administrative settlement agreement;
- The tolling of the claim against OC/FB by an agreement or otherwise, provided such tolling is still in effect on the Petition Date; or
- The Petition Date.
If the statute of limitations is tolled for any of the reasons listed and the claim was not barred by any applicable federal, state or foreign statute of limitation at the time of the tolling event, the claim will be treated as timely filed if it is actually filed with the Trust by February 27, 2011.
In addition, any claim that is first diagnosed after the Petition Date, irrespective of any relevant federal, state or foreign statue limitation or repose, may be filed with the Trust within three years after the date of diagnosis or by February 27, 2011, whichever occurs later.