Out of Court Legal Option—Claims Against Bankruptcy Trusts
Mesothelioma is a rare, aggressive form of cancer. Its only known cause is exposure to asbestos, typically decades before the victim has any symptoms. You and your family member are going through an extremely difficult time–physically, emotionally and financially—because of this disease. You need to consult with an experienced, highly-qualified attorney who has successfully represented other mesothelioma victims to advise you about your rights to compensation for pain and suffering, lost wages, and medical expenses. You should do so as soon as possible after your diagnosis because your lawyer will need time to investigate the facts and determine what course is appropriate to secure compensation.
At Stern Law, PLLC, we appreciate how difficult a mesothelioma diagnosis can be for you and your loved ones. For decades, we have successfully helped other mesothelioma victims and want to help you or your family. To schedule a free consultation, contact us at (844) 808-7529 to learn more about available legal rights and options, including trial and out-of-court claim opportunities. You or your loved ones may be entitled to significant compensation. We are ready to help make a difference, so don’t wait – pick up the phone and call us now.
Do I Have Options Other Than Filing A Lawsuit?
You are not restricted to filing a lawsuit. You can file claims against one or more of the many bankruptcy trusts that companies established pursuant to federal bankruptcy law to ensure that victims of mesothelioma and other asbestos-related diseases receive compensation for pain, suffering and economic loss.
What Are Asbestos Bankruptcy Trusts?
Once a company files for bankruptcy because of the overwhelming nature of claims against it for asbestos-related diseases, federal law prohibits it from being sued in civil court. Bankruptcy protection does not absolutely bar recovery, however.
Before an asbestos company can emerge from bankruptcy and resume operations (if still viable), bankruptcy courts mandate that it create, fund and manage a trust fund capable of fully compensating individuals who were exposed to its products and develop an asbestos-related disease, including mesothelioma. Presently, more than 60 asbestos companies have filed for bankruptcy. Pursuant to the court mandate, they have collectively set aside nearly $40 billion in assets to compensate asbestos victims. Filing a claim against one or more of the trusts is a reliable, dependable alternative to filing a lawsuit.
What Must I Do To File A Claim Against An Asbestos Bankruptcy Trust?
A claimant must submit a verified claim form to the Plan’s Trustee with documentation supporting three fundamental facts, specifically: (i) affirmation from a doctor of his or her diagnosis of mesothelioma; (ii) evidence of site exposure to the bankrupt’s product; and (iii) a qualified expert opinion that the exposure to the bankrupt’s product contributed to the claimant’s development of mesothelioma. Claims that do not provide adequate support for one or more of these elements will be rejected.
There is no restriction on the number of trust funds against which a claimant can file. The only limitation is that the claimant can only submit and recover from any fund if he proffers evidence that satisfies each of the three fundamental elements. All claims are processed in order of receipt so time is of the essence.
How Much Can I Recover From An Asbestos Bankruptcy Trust Fund?
Compensation is awarded by the Bankruptcy Trustee. The amount of the award depends upon the severity of the illness and how many future claims the Trustee expects to be filed against the fund. The Trustee makes those decisions based on the validity of the claim and the medical evidence of severity. Typically, the Trustee relies on a matrix or schedule set out in the Plan. Attorneys for claimants often communicate with Trustees regarding an appropriate amount of compensation for their clients. If the Trustee has concerns about whether the trust has sufficient funds to cover future claims, he may award only a percentage of the scheduled amount, and reserve the balance for future distribution as the time for processing claims winds down.
How Can I Use The Compensation?
The claimant can use funds to cover medical bills, pain and suffering and economic loss. While this compensation may not reverse the course of this terrible disease, it can relieve much of the anxiety.
Have You Been Diagnosed with Mesothelioma? Contact Stern Law, PLLC Today
At Stern Law, PLLC, we understand the complexities associated with a mesothelioma diagnosis, and want to help. We take the time you need to review your case, determine the sources of your exposure, and develop a plan of action to fight for the compensation you deserve. We can help you file claims against bankruptcy trusts if that is the direction you decide to pursue. Contact Stern Law, PLLC today at (844) 808-7529 to schedule your free consultation with one of our seasoned mesothelioma attorneys.
