🚨Attention Mesothelioma Victims: Your Right to Compensation 🚨
Asbestos exposure has become a modern-day plague, causing thousands of people to develop mesothelioma, a rare and deadly cancer. Fortunately, there are legal options available to help those who are suffering from this disease. One option is to file a lawsuit against the companies responsible for their asbestos exposure. However, some of these companies have gone bankrupt and set up trust funds to compensate mesothelioma victims.
Here’s everything you need to know about the list of mesothelioma bankruptcy funds and how they can help you get the compensation you deserve.
What Are Mesothelioma Bankruptcy Funds?
When companies that used asbestos in their products went bankrupt, they usually set up mesothelioma trust funds to compensate victims. These trust funds are set up to cover the financial obligations of the bankrupt company, including compensation for mesothelioma victims. There are currently more than 60 asbestos trust funds in the United States, with an estimated $30 billion in assets available to claimants.
How Do Mesothelioma Bankruptcy Funds Work?
Claimants file claims with the trust funds, providing documentation of their asbestos exposure and their diagnosis with mesothelioma. The trust’s administrators then review the claim and determine whether the claimant is eligible for compensation. If the claim is approved, the trust will pay the claimant a percentage of the funds available. The amount paid varies depending on various factors such as the type of mesothelioma, the level of exposure, the severity of the disease, and the age of the claimant.
How Do You Qualify for Compensation from Mesothelioma Bankruptcy Funds?
Each mesothelioma trust fund has its own eligibility requirements. Generally, claimants must provide evidence of their asbestos exposure, a diagnosis of mesothelioma, and other relevant medical records. Claimants may also need to provide information such as employment history and evidence of their exposure to a particular company’s products.
It’s important to note that the process of filing a claim for mesothelioma compensation can be complex, and it’s advisable to seek the help of an experienced mesothelioma lawyer to guide you through the process and ensure that you receive the maximum compensation.
What Are the Benefits of Mesothelioma Bankruptcy Funds?
There are several benefits to seeking compensation from mesothelioma trust funds:
- Setting up a trust fund ensures that mesothelioma victims are not left without any means of compensation when companies go bankrupt.
- Claimants can receive compensation relatively quickly because the trust funds are set up to streamline the claims process.
- Claimants can receive compensation even if the company that exposed them to asbestos is no longer in business.
- Claimants can receive compensation even if they were exposed to asbestos from multiple companies.
What Are the Challenges of Mesothelioma Bankruptcy Funds?
While mesothelioma trust funds offer significant benefits, they also have some challenges, including:
- The amount of compensation paid out may be lower than the amount paid out by a traditional lawsuit.
- Claimants may have to wait longer to receive compensation, as the trust funds are often overwhelmed with claims.
- The claims process can be complex, and claimants may need to provide extensive documentation to prove their eligibility.
List of Mesothelioma Bankruptcy Funds
Here’s a comprehensive list of mesothelioma trust funds:
| Trust Fund Name | Primary Company | Total Assets |
|---|---|---|
| AC&S | Armstrong World Industries | $750 million |
| A.P. Green Industries | A.P. Green Industries Inc. | $564 million |
| Asarco LLC | Asarco LLC | $1.79 billion |
| Ashland Inc. | Ashland Oil | $2.2 billion |
| Atlas Turner Inc. | Atlas Turner | $108.3 million |
| Babcock & Wilcox | Babcock & Wilcox | $1.4 billion |
| Bankruptcy Co. | U.S. Gypsum | $3.9 billion |
| C.E. Thurston | C.E. Thurston & Sons Inc. | $826 million |
| Carey Canada | Carey Canada Inc. | $535 million |
| Celotex Corp. | Celotex Corp. | $3.3 billion |
| Combustion Engineering | Combustion Engineering | $1.4 billion |
| Congoleum Corp. | Congoleum Corp. | $470 million |
| DII Industries LLC | DII Industries LLC | $2.5 billion |
| Eagle-Picher Industries Inc. | Eagle-Picher Industries Inc. | $600 million |
| Federal-Mogul Corp. | Federal-Mogul Corp. | $5.2 billion |
Frequently Asked Questions About Mesothelioma Bankruptcy Funds
1. Who is eligible for compensation from mesothelioma trust funds?
Claimants who have a diagnosis of mesothelioma and can provide evidence of their asbestos exposure may be eligible for compensation from mesothelioma trust funds.
2. Is compensation from mesothelioma trust funds taxable?
Compensation from mesothelioma trust funds is generally not taxable as income, but it’s advisable to consult with a tax professional to determine your tax liability.
3. How long does it take to receive compensation from mesothelioma trust funds?
The time it takes to receive compensation from mesothelioma trust funds varies depending on the specific trust fund and the number of claims being processed. It’s not uncommon for the process to take several months or even years.
4. Can claimants file a claim with multiple mesothelioma trust funds?
Yes, claimants may be able to file claims with multiple mesothelioma trust funds if they were exposed to asbestos from multiple companies.
5. Can family members of mesothelioma victims file a claim with mesothelioma trust funds?
Family members of mesothelioma victims may be able to file a claim with mesothelioma trust funds if they meet the eligibility requirements.
6. How much compensation can claimants receive from mesothelioma trust funds?
The amount of compensation that claimants can receive from mesothelioma trust funds varies depending on the specific trust fund, the severity of the disease, and the age of the claimant. It’s not uncommon for claimants to receive six-figure settlements.
7. How do I file a claim with mesothelioma trust funds?
Claimants can file a claim with mesothelioma trust funds by contacting the trust’s administrators and providing the required documentation of their asbestos exposure and mesothelioma diagnosis.
8. What kind of evidence do I need to provide to file a claim with mesothelioma trust funds?
Claimants need to provide documentation of their asbestos exposure, such as employment records, medical records, and witness statements, as well as a mesothelioma diagnosis from a licensed medical professional.
9. Do I need a lawyer to file a claim with mesothelioma trust funds?
While you can technically file a claim with mesothelioma trust funds on your own, it’s advisable to hire an experienced mesothelioma lawyer to guide you through the process and ensure that you receive the maximum compensation.
10. How much does it cost to hire a mesothelioma lawyer?
Most mesothelioma lawyers work on a contingency fee basis, which means that they don’t get paid unless you receive compensation. The contingency fee typically ranges from 33% to 40% of the settlement amount.
11. Are mesothelioma trust funds running out of money?
While some mesothelioma trust funds have begun to experience financial strain, there are still billions of dollars available to compensate claimants. It’s important to file your claim as soon as possible to ensure that you receive compensation.
12. Can I file a lawsuit against a bankrupt company?
If you were exposed to asbestos by a bankrupt company that does not have a trust fund set up, you may still be able to file a lawsuit against them. However, the process can be complex, and you should consult with an experienced mesothelioma lawyer to determine your legal options.
13. What happens if a mesothelioma trust fund runs out of money?
If a mesothelioma trust fund runs out of money, it may not be able to compensate all eligible claimants fully. In this case, the remaining funds are divided among the claimants proportionally.
Conclusion
If you or a loved one has been diagnosed with mesothelioma, pursuing compensation from mesothelioma trust funds may be an option to help you get the financial support you need. It’s important to consult with an experienced mesothelioma lawyer to guide you through the process and help you receive the maximum compensation possible.
Remember, time is of the essence, and the longer you wait, the fewer funds may be available. Contact a mesothelioma lawyer today to learn more about your legal options.
Closing Disclaimer
The information in this article is not intended to provide legal advice, and it’s advisable to consult with an experienced mesothelioma lawyer to determine your legal options. While we have made every effort to ensure the accuracy of the information in this article, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the article or the information, products, services, or related graphics contained in the article for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
