Mesothelioma Trust
Funds

Mesothelioma trust funds provide compensation to eligible individuals with asbestos-related diseases. According to the Rand Corporation, 730,000 asbestos exposure victims filed lawsuits against asbestos companies who had negligently exposed them to asbestos during the period from the early 1970s through the end of 2002, and these numbers are rising.

Mesothelioma patients are not always eligible for asbestos trust fund proceeds, nor are trust funds the only method by which victims can receive compensation. The Lanier Law Firm is a nationwide law firm with extensive experience in asbestos litigation. We help our clients identify all responsible parties and obtain maximum compensation through every means available.

What is a mesothelioma trust fund?

The dangers of exposure to asbestos and asbestos-containing products were recognized as far back as the 1930s, and by the 1950s, many asbestos manufacturers and employers were aware of the dangers of asbestos products but failed to provide workers with warnings or protective measures. Many companies actively concealed this information, knowingly subjecting their workers to years of daily exposure to a highly hazardous product.

Since asbestos-related illnesses often have a latency period of 20 to 50 years, workers were unaware of the danger until large numbers of them became ill with mesothelioma, lung cancer, asbestosis or other asbestos diseases. As vast numbers of injured workers filed mesothelioma lawsuits against the negligent companies, these companies quickly became overwhelmed with their liabilities.

Facing insolvency, the companies filed for Chapter 11 bankruptcies. The companies were court-ordered to set aside monies to compensate future asbestos claimants through trust funds set up as part of their reorganization under the Chapter 11 bankruptcy code. The purpose of the asbestos bankruptcy trusts was to ensure mesothelioma compensation would be available for present and future claims.

Chapter 11 U.S. Code § 524(g) establishes these funds as a no-fault system that protects the companies from asbestos lawsuits. This helps to ensure enough money will be available for future victims.

Trust Funds

Below is a list of the asbestos bankruptcy trust funds to date:

How do trust funds help mesothelioma victims?

Mesothelioma trust fund claims provide asbestos victims a means to access compensation sooner and with fewer uncertainties when compared to filing a lawsuit.

Filing a Trust Fund Claim

Every trust fund has its own procedures for filing claims, but they tend to have a few common denominators. You will need to provide information to prove you are eligible. Most trusts give you a choice between a standard or expedited review process. The skilled mesothelioma lawyers at The Lanier Law Firm are familiar with the procedures of the individual trusts and can handle the entire process for you.

Eligibility

The following criteria must be met for claimants to be eligible to receive trust fund proceeds:

  • Exposure to asbestos fibers through the fault of the company for whom the trust was set up, including second-hand exposure experienced by family members when workers carried asbestos fibers home on their clothing
  • A confirmed medical diagnosis of an asbestos-related illness

Documentation You Will Need

You will need to provide the following: