Mesothelioma Trust Funds

Understand Your Right to Recovery After a Diagnosis

A mesothelioma diagnosis can be devastating, as there is currently no cure for the cancer. On top of the emotional challenges facing a family after receiving such a diagnosis, many also face financial struggles. Because mesothelioma can take decades to develop, many patients are elderly retirees with limited funds. With treatment, their symptoms can be reduced, and their lives extended. However, being able to pay for specialized care is not easy for most families.

Because the courts have taken measures to protect the victims of asbestos exposure, there are generally three ways to approach a mesothelioma lawsuit: bankruptcy trusts, settlements, and litigation. In most cases we use all three avenues to help clients maximize their compensation.

Bankruptcy Trusts

Bankruptcy trusts are often discussed because they are heavily advertised on TV. However, the commercials do not really explain how these trusts work. Here’s what requesting compensation from one entails.

More than 20 years ago, Congress amended the Federal Bankruptcy Code to provide special treatment for corporations that were historically involved in the manufacture of asbestos-containing products. If and when those corporations seek to reorganize their business under the Bankruptcy Code, the statutory scheme that Congress designed requires the creation of a trust to pay both present and future asbestos claims.

However, the amount of money in such a trust is fixed at the time of the bankruptcy filing. In almost every occasion, there is simply not enough money set aside to pay the full value of each claim. As a result, present and future claimants must accept a small fraction of the payment they deserve. The creation of the trust also provides the post-bankrupt company with complete immunity from all present and future asbestos liability, meaning it’s hard to file a suit against the trustee.

While the trusts are inadequate to fully compensate an asbestos victim, they are important because, without them, the companies that went bankrupt would walk away without paying a dime to the people they injured. As it is, the bankruptcy trusts often end up paying victim’s families pennies on the dollar.

The Trust Fund Claims Process

If the company that is responsible for you or your loved one's injuries has filed for Chapter 11 bankruptcy protection and the reorganization has been approved by the court, claims must be submitted to the bankruptcy trust fund administrator for review. Each trust fund has different criteria for accepting or rejecting claims, so it is important to work with experienced lawyers like our team at Robins Cloud LLP. We will undertake a thorough investigation to help identify all responsible parties and put together a claim that meets the trust’s criteria for acceptance.

Since the trust funds are designed to pay out existing and future claims from a limited pool of money, claim administrators will want to pay only a small percentage of the value of a claim. This means the claims process can process can become very contentious. Occasionally, if settlement cannot be reached, the plaintiff must file a lawsuit.

The criteria for accepting claims is transparent and most trust fund administrators make the information available for review by the public on their websites. You and your attorney will need to carefully review the evidence and criteria to ensure that the claims process goes as smoothly as possible For instance, it may take awhile to gather evidence including employment history, medical records, military service records, union records, witness affidavits, and documents that establish the company in question was responsible for the asbestos exposure. However, this documentation is necessary to have your claim considered. We can help you recover and organize these documents for presentation to the trust fund administrator.

If you are seeking reimbursement via a trust fund, we recommend you talk to an attorney to ensure you have everything you need to file and you promptly receive the best settlement possible.

Mesothelioma Settlements & Winning Mesothelioma Verdicts

This is where we shine. It’s the kind of work you expect from a lawyer: going to court and fighting on your behalf to help get you the best possible verdict or settlement. We have a strong record when it comes to mesothelioma verdicts, having recovered hundreds of millions for our clients. Taking a case to trial is much more difficult than filing a claim with a trust fund administrator. If you intend to take your claim all the way to court to argue for maximum compensation, make sure you’re working with a tough and experienced lawyer.

For over 25 years, the attorneys at Robins Cloud LLP have been handling significant litigation for people harmed by corporate wrongdoing across the country. Our practice is focused on serious and catastrophic injury and wrongful death cases. We are ready to help you and your family strategize and move forward with a mesothelioma claim. Reach out to us today to learn about your right to compensation and how you can get started.

Call Robins Cloud LLP at (800) 691-2363 or contact us online for your free consultation. Our Los Angeles team helps mesothelioma patients throughout California.