NEW YORK - Dow Corning Corp. has tentatively agreed to a $3.2billion bankruptcy plan that will pay about 400,000 women forailments related to ruptured silicone breast implants, The WallStreet Journal reported today.
The settlement between Dow Corning and representatives for thewomen could be announced by a bankruptcy court in Bay City, Mich. asearly as today.
The deal, which calls for Dow Corning to end its three-year stayin Chapter 11 bankruptcy protection, opens the way for women to becompensated for immune system illnesses allegedly caused by siliconeand to receive payments for ruptured implants.
Women could also choose to receive $5,000 to have the implantsremoved, the paper reported.
The agreement is similar to a November 1995 deal signed by othercorporate defendants, including Bristol-Myers Squibb Co., in whichwomen have received an average of $26,000. The Dow Corning dealcalls for women to receive an average of $31,000 for disease anddisability compensation, the paper said.
Women who prefer to litigate rather than accept the payments maydo so, but amounts will be limited, the paper said.
No comments:
Post a Comment