You may have heard that many companies who are responsible for injuring and killing tens of thousands of people due to exposure to asbestos have declared bankruptcy and have been ordered by Courts around the Country to reorganize.
As of 2011, asbestos trust funds have combined assets of $36.8 billion.
It’s important to understand that reorganization means that the Courts have allowed many companies to protect their assets. It is also important to understand that the Courts have also required these companies to set up reserves of money or “personal injury trusts” to pay victims of asbestos. The DiCello Law Firm lawyers want victims to know that these funds exist and are called Mesothelioma compensation funds, or asbestos bankruptcy trusts.
Over $36 Billion Available
As of 2011, asbestos trust funds have combined assets of $36.8 billion. While this is a large sum of money, many are concerned that with the new cases emerging every year and with the expectation that new cases of Mesothelioma expected for the next 20 to 50 years, these funds ultimately will not be enough to allow all victims to get justice.
Typically, the seriousness of your injury dictates the value of your claim. And, there are various schedules that various trusts apply to value claims as well. The fact is many trusts are underfunded and unable to fully pay all claims associated with all asbestos exposure though the most serious diseases such as mesothelioma will likely command the largest percentage of trust resources.
The lawyers at the DiCello Law Firm understand how these cases differ from other cases. They have the knowledge and skills required to get the most compensation possible for their clients from these trust. If you or a loved one has been diagnosed with Mesothelioma as a result of asbestos exposure, call the DiCello Law Firm today.