Mesothelioma Settlements &
Asbestos Trust Funds
Over time many companies have been forced to declare bankruptcy due in part to their asbestos-related liability. Filing for bankruptcy generally stops any civil lawsuits from being filed against the company. However, should a company seek to reorganize under Chapter 11 of the federal bankruptcy code it must establish a trust to settle all future asbestos liability. Assets from the company will be put into the trust for investment and management. In the last decade, the number of asbestos personal injury trusts has increased to almost 60 with combined assets of over $18 Billion set aside for victims. The trust funds were setup to help those who were affected by asbestos and Mesothelioma. From 2006-2012 almost $15 billion was paid from the asbestos trusts to settle claims. Companies who did not file for bankruptcy protection and are still solvent may be sued directly in tort by plaintiffs who were allegedly harmed by the company’s asbestos product.
Filing a Mesothelioma Claim with an Asbestos Trust
Trust Distribution Procedures (TDP) are documents which describe the process an individual must follow in order to file a claim with an asbestos injury trust. The TDP will also detail how a claim is reviewed, what makes a claim qualified, and how a claim is paid once it is determined to be qualified. A TDP will usually have a list of injuries the trust will provide compensation for as well as predetermined dollar amounts associated with each injury. All asbestos injury trusts follow specific procedures so it is important to choose an attorney who has experience in dealing with asbestos injury trusts. The asbestos attorneys at Kyros Law Group have gained decades of knowledge from filing claims on behalf of hundreds of clients. Our attorneys know the ins and outs of asbestos injury trusts and can help you get the compensation you deserve. We understand that filing a claim may seem overwhelming, so let us handle that process for you. We’ve recovered millions of dollars from asbestos injury trusts and want to help you get rewarded for your pain and suffering.
The process of filing a claim can seem intimidating. Let us walk you through and show you why hiring Kyros Law Group as your asbestos attorney is the best way to deal with an asbestos injury trust.
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