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Asbestos Trust Funds

Asbestos Trusts. What are they?

Asbestos litigation arose out of millions of Americans’ lengthy and widespread occupational and environmental exposure to asbestos and the serious and deadly consequences of that exposure, which is still felt today.

For decades, many U.S. companies who used or worked with asbestos knew of its dangers and ignored the facts. They essentially put profits before people.

Some of these companies utilized section 524(g) to reorganize and establish a bankruptcy trust to pay current and future asbestos claimants and channel claims away from the reorganized company.

In the three decades since Johns Manville and UNR Industries filed the first asbestos bankruptcy cases, nearly 100 companies have filed for bankruptcy protection.

Today, many of these companies have emerged from the 524(g) bankruptcy process leaving in their place dozens of trusts funded with tens of billions in assets to pay claims.

The trusts were often funded with cash, reorganized debtor stock, insurance, and other assets provided by the debtor company (or parent company), and exist to expeditiously pay current and future claims.

What does that mean for Mesothelioma Victims?

It means that there are funds available for victims and their families to receive compensation for the injuries they have suffered. It is your right as a victim to receive compensation.

It is our job as asbestos litigation attorneys to make sure you get all that is owed to you.

According to the United States Government Accountability Office there is some $36 billion available. And that was a 2011 estimate. That’s the value of assets in all asbestos-related bankruptcy trusts.

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We can help you.

In order to get the compensation you deserve and to which you are entitled, you are required to go through a legal process. And that’s where we come in.

Over decades we have helped thousands of victims and their families not only get compensation they deserve, but get the most compensation available. Combined, we have recovered billions of dollars for our clients through the bankruptcy claims process and the civil justice system, where claims against solvent companies can still be pursued.

Through the process, there is no cost to you and we only get paid when you do.

We are the experts. We know the process and we are there to guide you and help every step of the way. You have enough to worry about without all the legal issues. We’ll look after that for you.

It is estimated that over 730,000 asbestos-related lawsuits have been filed, with close to $50 billion paid in compensation.

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Did You Know?

  • Mesothelioma Facts
    Mesothelioma Facts
    The highest award of compensatory damages ever upheld on appeal in a mesothelioma case is $30.3 million.
  • Mesothelioma Facts
    Mesothelioma Facts
    The largest punitive damages verdict ever upheld on appeal in a mesothelioma case is $18 million.
  • Mesothelioma Facts
    Mesothelioma Facts
    There are over $30 billion in asbestos trust funds to compensate victims of mesothelioma and other asbestos-related diseases.
  • Mesothelioma Facts
    Mesothelioma Facts
    There are more than 50 bankruptcy trusts accepting claims to compensate victims of mesothelioma and other asbestos-related diseases.
  • Mesothelioma Facts
    Mesothelioma Facts
    There are many “asbestos dockets” that permit living mesothelioma patients to obtain a jury verdict in less than 1 year.
  • Mesothelioma Facts
    Mesothelioma Facts
    In 2015, more than 2000 mesothelioma cases were filed in the United States.
  • Mesothelioma Facts
    Mesothelioma Facts
    In some mesothelioma cases, settlements can be obtained in less than 1 year.
  • Mesothelioma Facts
    Mesothelioma Facts
    Thousands of different companies have been defendants in mesothelioma cases over the past 40 years.
  • Mesothelioma Facts
    Mesothelioma Facts
    According to a 2015 study of 77 peritoneal mesothelioma cases, the average life expectancy (median survival period) was 75.7 months, or over 6 years.
  • Mesothelioma Facts
    Mesothelioma Facts
    According to a 2015 study of 77 peritoneal mesothelioma patients, 73.8% were living after 3 years, and 65.3% were living after 5 years.
  • Mesothelioma Facts
    Mesothelioma Facts
    According to a 2015 study of 77 peritoneal mesothelioma patients, 64% were treated with HIPEC and cytoreductive surgery.
  • Mesothelioma Facts
    Mesothelioma Facts
    According to a 2015 study of 303 pleural mesothelioma patients, the average life expectancy (median survival period) was 18.4 months.
  • Mesothelioma Facts
    Mesothelioma Facts
    According to a 2015 study of pleural mesothelioma patients, 73.1% were still living after 1 year, and 22.9% were still living after 3 years.
  • Mesothelioma Facts
    Mesothelioma Facts
    In 2015, the largest number of mesothelioma cases were filed in the following 10 courts: (1) Madison County, IL; (2) Cook County, IL; (3) St. Louis, MO; (4) Los Angeles, CA; (5) New York, NY; (6) Philadelphia, PA; (7) New Castle County, DE; (8) Middlesex County, MA; (9)Middlesex County, NJ; (10) Kanawha County, WV.
  • Mesothelioma Facts
    Mesothelioma Facts
    The states with the largest number of diagnosed mesothelioma cases are: New York, New Jersey, California, Washington, Pennsylvania, Massachusetts, Virginia, Florida, Texas, Illinois, Wisconsin, Michigan and Ohio.
  • Mesothelioma Facts
    Mesothelioma Facts
    There are about 3000 mesothelioma cases diagnosed in the United States each year.
  • Mesothelioma Facts
    Mesothelioma Facts
    About 1 in 100,000 people in the United States will be diagnosed with mesothelioma each year in the United States.
  • Mesothelioma Facts
    Mesothelioma Facts
    More than 80% of all mesothelioma cases occur in the pleura (pleural mesothelioma).
  • Mesothelioma Facts
    Mesothelioma Facts
    Less than 20% of all mesothelioma cases occur in the peritoneum (peritoneal mesothelioma).
  • Mesothelioma Facts
    Mesothelioma Facts
    About 22% of all mesothelioma cases occur in women.
  • Mesothelioma Facts
    Mesothelioma Facts
    A history of asbestos exposure can be found in more than 80% of mesothelioma cases.
  • Mesothelioma Facts
    Mesothelioma Facts
    More than 30% of all mesothelioma patients in the United States were exposed to asbestos in the military.
  • Mesothelioma Facts
    Mesothelioma Facts
    Mesothelioma can be caused by laundering, or other household contact with, work clothing contaminated with asbestos.
  • Mesothelioma Facts
    Mesothelioma Facts
    Mesothelioma can be caused by work with (direct exposure) or around (bystander exposure) asbestos-containing products.
  • Mesothelioma Facts
    Mesothelioma Facts
    The average time between a person’s first exposure to asbestos and the development of mesothelioma (latency period) is more than 40 years.
 

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Learn more about these experienced mesothelioma nurses by watching the video below. Click here to contact a mesothelioma nurse now.

 
 

Learn More About MesoLawyersCare

Watch the video below to learn why MesoLawyersCare is the best choice to represent you and your family after a mesothelioma diagnosis.


 

Contact MesoLawyersCare Now

If you or a loved one has been diagnosed with mesothelioma, please contact us to see if we can help you get the compensation you deserve from the billions of dollars in asbestos trust funds available now for qualified asbestos victims. With just one call, you can put all our experience and success to work for you.

We have represented thousands of victims of mesothelioma and their families in virtually every State in the country and in decades of work have recovered billions of dollars in financial compensation for our clients.

Call us now at 1-888-568-1177, fill out the form on this page or chat with a live person. The consultation is free and it costs nothing upfront to hire the lawyers behind MesoLawyersCare. We only get paid if you collect a settlement or verdict and you will never receive a bill from us.

 

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