Asbestos Litigation

Taken together, all of the asbestos lawsuits filed in the United States over the past fifty years constitute the longest running mass tort in the country’s history.  A tort is defined in dictionaries as a civil action taken based on a negligent or intentional harm done that is not based on statute law.

Hundreds of Thousands of Lawsuits

A Rand Corporation research document on the subject says that by the end of 2002, about 730,000 individuals claiming physical harm from asbestos exposure had filed suit against about 8,400 corporations and businesses.  At that point, about seventy corporations had filed for bankruptcy protection over their asbestos liability.

Today, in mid-2009 the number of bankruptcy filings has reached one hundred.  The number of lawsuits since 2002 number several hundred thousand and they have increased each year up to the current date, mid-2009.  Because the diseases caused by asbestos exposure have latency periods of up to fifty years, many people who were exposed to asbestos decades ago are just now getting sick. 

Asbestos Companies File Bankruptcy

The purpose of the bankruptcy filings by asbestos mining companies and product manufacturers has been to gain temporary protection from losing all of their assets to asbestos lawsuits.  The bankruptcy cases were ostensibly to allow for these companies to “reorganize” their finances in order to deal with asbestos liability. 

The result of the corporate bankruptcy settlements for many of these corporations has included the establishment of a trust fund that the company sets aside to cover compensation for those who file claims based on asbestos exposure.  Several of those trust funds hold well in excess of $1 billion dollars.  An integral part of any asbestos litigation today may involve filing claims directly with those trust funds as well as against the companies that were responsible for the asbestos exposure suffered by the plaintiff.

Asbestos Litigation Today

Asbestos litigation today requires an experienced asbestos attorney to manage the case.  Because of the volume of lawsuits initiated every year, many court jurisdictions have taken to designating a specific judge for hearing all asbestos claims.  A good asbestos attorney knows the situation in every state regarding asbestos claims and files accordingly.

Some lawsuits are in federal court, some in state courts, and some claims are filed directly with one or more trust funds.  Generally, an asbestos lawsuit today is filed against more than one company; the court where these suits are filed will be a strategic decision made by your attorney. 

Asbestos litigation is a legal world of its own, and the situation within it is fluid.  Be sure that if you intend to file an asbestos lawsuit, you do so with experienced counsel that can be sure your claims are filed properly and handled efficiently.

Contact an experiened Asbestos Attorney to discuss your claim needs.