Asbestos Bankruptcy Trust Funds
Asbestos manufacturers are responsible for thousands of cases of mesothelioma over many years and countless other injuries as a consequence of their reckless use of asbestos. Many of these companies have established special bankruptcy asbestos trust funds to compensate the victims of their dangerous asbestos containing products.
When a corporation chooses to reorganize under the bankruptcy code they become protected from future litigation for past misdeeds. While you can no longer file a lawsuit against these entities, they are required under the bankruptcy reorganization to set aside funds from their assets to pay victims that can prove that these companies played a role in the person’s diagnosis.
These claims can be made without having to file a complaint, go to court, or go to trial. These claims can proceed quickly within the individual administration of each trust fund. Due to the long latency period between exposure to asbestos and an actual diagnosis, there can be decades of future mesothelioma cases caused by a company after it has established its trust, and these trusts continue to compensate victims tho this day and are structured to compensate people well into the future. To date, over thirty different trust funds have been established by the US Bankruptcy Court with initial funding of over $30 billion dollars.
Levin Simes Abrams has decades of experience filing thousands of bankruptcy claims with dozens of different trust defendants and understands how to navigate this process to ensure timely recovers for the most compensation for our clients. We have the experience, resources and knowledge to make sure that you and your family recover as much as possible from these different funds.
Contact an asbestos attorney at Levin Simes Abrams today at 1-888-426-4156 or [email protected].