Asbestos Lawsuit

"Asbestos Trust in Midst of Approval"

April 24, 2003
Asbestos lawsuits have continued to be filed all over the country by survivors of asbestos exposed victims or by people now suffering from asbestos related disease, such as mesothelioma. Now, there are talks that an asbestos trust is near that, if approved by Congress and President Bush, will pay over $100 billion to hundreds of thousands of asbestos victims in the next 30 years. In the past, any effort to attempt to reduce the high number of asbestos lawsuits has not been close.

Some asbestos experts do not think that the trust has a chance of becoming a law, but negotiators for all sides do not agree with that. If passed, the asbestos trust would be the second largest lawsuit settlement ever. There are still a lot of issues that must be considered, like how much of the asbestos payment would go to the victims and what will occur if the trust runs out of money for the high number of asbestos exposed sufferers that exist.

The asbestos trust would settle all new and existing asbestos claims that would not allow people to opt out. Companies liable for asbestos health effects are rooting for the trust to pass in hopes that it will limit the asbestos lawsuits. Within the last two years especially, companies have had to pay out large sums of money for asbestos lawsuits. The trust would be beneficial so some asbestos-exposed sufferers. There are some asbestos-exposed victims that have received very little money despite the fact that they are dying or extremely sick because the companies are in bankruptcy.

The $100 billion under the trust is half as much as analysts have forecasted that companies and insurers would eventually spend to resolve asbestos claims currently, however the trust's principal would accumulate interest. Please contact us for more information on asbestos lawsuits for asbestos health effects like mesothelioma.

All forms of asbestos have been shown to cause cancer. If exposed, those individuals risk asbestos-illnesses, including a rare, inoperable cancer called mesothelioma.

Contact us for more asbestos lawsuit information.

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