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Chemtool Fire Leads to $94.5 Million Settlement for Affected Illinois Residents
Eligibility and Key Deadlines for Claiming Chemtool Settlement Compensation
According to The US Sun, Residents and renters within a three-mile radius of the Chemtool Manufacturing Plant in Rockton, Illinois, are set to receive payments from a $94.5 million Chemtool settlement. This comes after a significant fire at the plant on June 14, 2021 caused extensive damage leading to a class-action lawsuit. The Chemtool Manufacturing Plant which specializes in producing lubricants, grease, and fluids experienced a devastating fire in June 2021. The blaze resulted in substantial smoke, dust, and debris affecting nearby properties. Many residents reported property damage, decreased property values and costly cleanup efforts. Though Chemtool, owned by Lubrizol Corp. has not admitted to any wrongdoing the company has agreed to a $94.5 million settlement to resolve the lawsuit. This Chemtool settlement aims to provide financial relief to those affected by the fire.
Individuals must have been renters or property owners living within three miles of the Chemtool Manufacturing Plant on June 14, 2021 in order to be eligible for compensation from the Chemtool settlement. By September 12, 2024 the deadline for completing and submitting a claim form must have passed for those who qualify. Applicants must include proof of residency such as utility or phone bills, ID cards, house titles or mortgage records with their claim form. The deadlines for objections (August 13, 2024, claim forms (September 12, 2024) and the final approval hearing (September 27, 2024) are important dates to keep in mind. These deadlines are essential to guaranteeing prompt claim processing and payment of appropriate compensation to impacted parties.
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How to Claim Your Share of the $94.5M Chemtool Settlement in Illinois – All You Need to Know (PHOTO: WEAU)
How Compensation Amounts Will Be Determined for the Chemtool Settlement
Furthermore, the amount that each claimant receives is determined by how close they are to the plant as well as whether they rent or own their property. The precise reward amounts remain undisclosed at this time. The settlement website has a form that eligible people can fill out to submit a claim. For people affected by the 2021 fire this settlement is a critical step toward financial relief and rehabilitation.
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