Asbestos Trust Claims
Asbestos litigation has been ongoing since the late 1970s. As a result, many of the companies that manufactured and sold asbestos-containing materials have filed for bankruptcy under a special provision of the United States Bankruptcy Code.
This form of bankruptcy is virtually unique to asbestos companies and is far different from the traditional form of bankruptcy where there is a liquidation of assets and the company goes out of business. Instead, many asbestos companies have been allowed to shed their liabilities by forming asbestos bankruptcy trusts to provide payments for all present and future asbestos injury claims. As a result, contrary to popular news reports, many of the companies that manufactured asbestos containing products are still in business and their non-asbestos products can still be found on the shelves of local hardware stores.
To date, over $30 billion dollars has been set aside in bankruptcy trusts to compensate injured workers and their families who were exposed to asbestos. The payouts from these trusts are based on a number of factors including historic verdict and settlement values, disease and injury classifications, and the individual workers exposure history. Often these payments represent only a fraction of past verdicts and settlements; however, for workers who qualify, these payments can constitute a significant form of compensation.
Unfortunately, many workers do not know that they qualify for payments from these trusts. If you believe you or family member were exposed to asbestos – call or email us for a FREE INITIAL CONSULTATION. Our team of experienced attorneys will review the facts in your case and answer any questions you may have.
ADDITIONAL INFORMATION REGARDING ASBESTOS
For additional information regarding other asbestos claims click on the following links:
- Railroad Workers Exposed to Asbestos;
- Veterans Exposed to Asbestos;
- Mesothelioma & Lung Cancer;
- News & Updates on Asbestos Cases
FREE INITIAL CONSULTATION
SAMMONS & BERRY, P.C., represent workers and their families in asbestos claims ACROSS THE COUNTRY. Call our office toll-free at (800) 519-1440 or complete the form below.