Mesothelioma Trust Funds
We Pursue Every Avenue to Win Compensation for Our Clients
As a mesothelioma patient, you have the right to file a claim against the company or companies that exposed you to asbestos earlier in your life. What happens if that company has gone out of business, as many that relied on this toxic substance have? This is a question we hear a lot, and if it’s worrying you, we want you to know you still have options for compensation.
There are three ways mesothelioma victims can win compensation: through a successful claim against one of these trusts, by negotiation a settlement, or by winning a jury verdict. We can help you explore all your options and represent you in the routes you choose to pursue.
What Is a Bankruptcy Trust?
Most companies, when they find themselves irreparably in debt, file for bankruptcy. This process allows the company to liquidate or reorganize in order to meet debt obligations. Normally, there’s no way to file a claim against a company that’s already gone bankrupt. Congress foresaw this problem more than 2 decades ago and amended the Federal Bankruptcy Code to require companies that worked with asbestos to create a fund for the payment of mesothelioma claims as part of Chapter 11 bankruptcy proceedings.
Given the vast number of mesothelioma cases and the cost of medical care, these trusts do not have nearly enough funding for all the victims who have come forward. This is why working with a lawyer is important to help you maximize your compensation.
Making a Claim Against a Trust Fund
Once an asbestos trust fund is created, it’s overseen by an administrator who has the authority to reject or accept claims. Most of these funds have a comprehensive application process that requires heavy documentation. An experienced mesothelioma attorney can help you review the criteria and put together an application that includes all the necessary evidence.
However, because these trusts are under-funded, the offer you get from the administrator is likely to be much lower than the amount you need. Having a lawyer to fight for you can be essential to receiving more than the minimum offer.