Mesothelioma Trust Funds
There are generally three ways to approach a mesothelioma lawsuit: bankruptcy trusts, settlements or litigation.
In most cases we use all three avenues.
Bankruptcy Trusts Bankruptcy trusts are often discussed because they are heavily advertised. However, the TV ads do not really explain how these trusts work.
Here’s how they do work.
More than twenty 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 that is then charged with paying both present and future asbestos claims. However, the amount of money available to pay claims is fixed at the time of the bankruptcy filing. In almost every occasion, the amount of money set aside to pay claims is inadequate to pay the full value of each claim, and as a result, present and future claimants must accept a small fraction of the scheduled payment. In order to qualify for payment from a trust, however, a claimant must show that his/her mesothelioma was caused – at least in part – by the specific products for which the trust was created, and the creation of the trust provides the post-bankrupt company with complete immunity from all present and future asbestos liability.
While the trusts are inadequate to fully compensate an asbestos victim, the trusts are important because, without them, the big manufacturers who went into bankruptcy would walk away without paying a dime to the people they injured.
Mesothelioma Settlements & Winning Mesothelioma Verdicts — This is where we shine. It’s the kind of work you actually expect from a lawyer: going to court and fighting on your behalf to help get you the best possible verdict or settlement.
We’re recognized by other law firms across the country for being a tough firm that has the ability to negotiate with asbestos companies so hard that they eventually choose to settle, too weary to go to trial with us.
We also have a strong record of winning mesothelioma verdicts, as indicated on our Client Successes page.