Many people with asbestos-related diseases receive financial support from the mesothelioma settlement fund. These funds are organized by bankrupt companies to ensure that there will always be compensation for victims of asbestos exposure. The funds support people who suffer from all types of asbestos-related diseases, but claim mesothelioma often leads to the most significant compensation.
In the previous post, Alphadia.net introduced people to the lawyers for mesothelioma, to get more information people can read the article Some tips for choosing the best lawyers for mesothelioma. Now, let find knowledge about The mesothelioma settlement fund available in the US in the post today.
MESOTHELIOMA SETTLEMENT FUND
Just like a lot of article posts such as mesothelioma lawsuit settlements, a statute of limitations on mesothelioma claims, mesothelioma lawyer directory…, this post about The mesothelioma settlement fund available in the US also includes some main parts.
1. What is the mesothelioma settlement fund?
Mesothelioma settlement companies that have filed for bankruptcy have been forced by bankruptcy courts to establish trust funds. The purpose of trust funds is to save money for future mesothelioma complaints. These beliefs help protect mesothelioma victims who deserve compensation from these bankrupt companies.
1.1. Money billions are available in compensation
The victims of asbestos exposure received a total of about $ 3.3 billion from asbestos trust funds in 2008. Payments by the trust fund vary widely between these trustees, but the payment of the average trust fund for mesothelioma complaints is estimated at $ 46,000.
1.2. Thousands of people received financial support
More and more mesothelioma patients and their families are switching to asbestos trust funds for financial support. Trust funds have paid more than $ 15 billion since 2006 when many companies were founded.
1.3. Patients with mesothelioma are victims
People who develop mesothelioma are victims of misconduct. Most companies selling asbestos know about the dangers of products but ignore reporting to workers or companies that buy their products.
2. Submit a request against the asbestos trust fund
The process of bankruptcy trust is divided into a 4-step procedure.
2.1. Filing Claims
Filing begins by identifying which companies in the occupational history of the complainant (asbestos exposure victims) are responsible for their illness. During the application process, the person requesting to select the evaluation method is a quick assessment or a personal assessment.
2.2. Claim Review
There are two separate procedures to consider complaints:
Expedited Reviews
These reviews resolve complaints quickly and payments are a fixed value. This procedure is used when the requestor knows the fixed value and meets a set of criteria established by the trust, providing medical evidence and occupational history. If the evidence is determined to be sufficient, the request is valid and the process of conducting the liquidation. If not, the requester may submit a personal review.
Individual Reviews
These assessments are mandatory when the complainant is not included in the typical criteria established by trust in the rapid assessment. Payments for individual complaints may be greater or lower than the fixed values set for expedited complaints. The individual review process is often based on special cases of a case where the complainant is diagnosed as young, has a small child or lost income. In these cases, requirements tend to be higher.
Extraordinary claims
These are special cases where the claim meets the criteria of the expedited request, but the allowed liquidation is defined as the individual requirement. These complaints are used in cases where the complainant is a victim of a particular company in certain cases of employment, such as an employee who works for the company for a reasonable period of time (for example 30 years).
2.3. Claim Liquidation
Liquidation is the assignment of a monetary value to the claim. A valid complaint is filed when the settlement has been valid for the trust’s currency. Liquidation for personal complaints, on the other hand, is determined by the negotiation of the trustee and the claimant’s attorney.
2.4. Claim Payment
Payment is the final step of the procedure after an offer is made and accepted.
2. The mesothelioma settlement fund available in the US
| Company | Estimate of Initial Assets | Year Established |
|---|---|---|
| United States Gypsum | $3.9 billion | 2006 |
| Owens Corning Corporation | $3.4 billion | 2006 |
| Pittsburgh Corning Corporation | $3.4 billion | 2011 |
| W.R. Grace and Co. | $2.9 billion | 2001 |
| DII Industries | $2.5 billion | 2005 |
| Johns-Manville Corporation | $2.5 billion | 1988 |
| Armstrong World Industries | $2 billion | 2006 |
| Western Asbestos (Western MacArthur) | $2 billion | 2004 |
| Babcock & Wilcox | $1.8 billion | 2006 |
| Owens Corning Fibreboard Subfund | $1.5 billion | 2006 |
In fact, if people are eligible to claim workers’ compensation, people should also talk to a pleural mesothelioma lawyer about keeping Manufacturers and others may be responsible for the injury. To get more information about compensation mesothelioma, you can read the article Somethings that an attorney does to help people get mesothelioma compensation.
Mesothelioma settlement fund – Alphadia
