ASBESTOS IN BUILDINGS CLAIMS RESOLUTION PROCEDURES
These Asbestos In Buildings Claims Resolution Procedures (the "AIB Procedures") are
designed to evaluate, liquidate, pay and dispose of the Asbestos in Buildings Claims ("AIB
Claims") asserted against the Keene Corporation ("Keene") in a non-litigated, low-transaction
cost manner pursuant to Keene's Fourth Amended Plan of Reorganization, as Modified (the
"Plan") and the Trust Agreement.1
The Procedures shall provide the exclusive method for disposition and payment of AIB
Claims. The goal is to provide fair payment to claimants with valid AIB Claims, taking into
account the resources available to the Trust for this purpose. As such, the AIB Procedures
pertain only and are unique to the Keene Chapter 11 Case and have no applicability on any other
basis and are not relevant to any litigation or other disputed proceeding.
The Procedures may be interpreted by the Trustees only where an ambiguity exists. That
interpretation shall be consistent with the purpose of providing payment for cost-effective,
reasonable methods of Abatement (as hereinafter defined) of asbestos-containing materials. The
Trustees shall consider duties imposed on claimants in the future by applicable law or regulation
so as to insure that there is no inequity, unfairness, or unjust enrichment resulting from the
implementation of these AIB Procedures.
Claimants may, but need not, be represented by counsel during any of the activities under
these AIB Procedures.
Abatement: "Abatement" shall mean and refer to the removal, enclosure,
encapsulation or repair of ACM.
Abatement Costs: "Abatement Costs" shall mean and refer to the
reasonable costs of past and future Abatement, including, by way of
example, costs for the Abatement itself, design, consultant and laboratory
fees and other costs in connection with the Abatement, on-site monitoring,
insurance costs, disposal costs, and, except for Abatement upon
demolition, the reas