Asarco Asbestos Trust Fund Claims
Asbestos Trust Funds Claims and Mesothelioma Lawsuits
The ASARCO Asbestos Personal Injury Settlement Trust was created in 2009 as a result of the confirmation of the ASARCO Chapter 11 Joint Plan of Reorganization (the “Plan”). The Trust was created to process, liquidate, and pay valid Asbestos Personal Injury Claims in accordance with the ASARCO LLC Asbestos Personal Injury Settlement Trust Distribution Procedures (as amended, the “TDP”). The Trust aims to provide fair, equitable, and substantially similar treatment for all Asbestos Personal Injury Claims that may presently exist or may arise in the future.
Pursuant to the TDP, the Trust has adopted policies and procedures for receiving, reviewing and paying Asbestos Personal Injury Claims. These procedures include the claim form to be filed as proof of claim with the Trust. The filing instructions, claim form, electronic filer agreement required for electronic submissions, and a complete copy of the TDP are available for download on their website. http://www.asarcotrust.com
Global Asbestos Disaster Study Estimates More than 39,000 USA Deaths Annually from Asbestos-Related Diseases.
Specifically, asbestos contributes to 34,270 lung cancer deaths, 3,161 mesothelioma deaths, 787 ovarian cancer deaths, 443 larynx cancer deaths and 613 chronic asbestosis death. Source: www.adao.us
ASARCO Asbestos Personal Injury Settlement Trust
Head Quarters: Tucson, Arizona
Turn out: mining and metals
Operating status: Still Currently Operating
Asbestos Trust: Yes
Trust began: 2009
Trust Amount: $830 million
Asbestos Trust Fund
After ASARCO filed for bankruptcy in 2005, it made a reorganization plan. The company created the ASARCO Asbestos Personal Injury Settlement Trust, funded initially with $830 million in 2009. Each case is evaluated on various factors including, age, exposure, and illness. Currently, the payment percentage for successful cases is 35%
U.S Asbestos Bankruptcy Trusts Funds have paid out nearly 21 billion to more than 600,000 asbestos claimants. There are about 60 active Asbestos Trust Funds with an estimated $32 billion in remaining assets.
Asbestos Settlement Trusts were established to help compensate workers and their families for asbestos exposure causing Mesothelioma and other asbestos-related diseases. When an Asbestos company establishes a Trust Fund all settlements are managed by trustees that decide the compensation amounts paid to Mesothelioma claimants. U. S. Courts allow Asbestos defendants to file for protection under a legal process known as bankruptcy reorganization. This allows the company to pay claims and stay in business.
Asbestos Trust Fund settlements typically do not come with an admission of guilt by the asbestos company that set up the trust.
Beginning in the early 1980s CAPCO began receiving asbestos-related lawsuits, and in the late 1990s, ASARCO began seeing lawsuits from their use of asbestos. Both companies received thousands of lawsuits leading ASARCO to file for bankruptcy in 2005. After filing for bankruptcy, they still received asbestos-related lawsuits, and in 2008 they received 95,000.
Since exposure to asbestos was highly prevalent in ASARCO, many individuals, including workers and the general public, were put at risk. Since the company expanded quite quickly, there were multiple plants where individuals may have come into contact with asbestos materials. Some workers were exposed on a routine schedule, and due to effects have asbestos-related health complications. Various occupations that may have been affected include:
ASARCO owned various mines across the United States of America containing lead, copper, and zinc. Including:
Mining copper in Utah, Garfield
Mining lead & copper in Tacoma, Washington
Mining lead in Mexico and San Francisco California
Mining zinc in Chile and Amarillo, Texas
ASARCO worked with raw materials from 1952 to the early 1990s, and they were so heavily involved that they increased the world’s supply of asbestos by 7%.
The products they produced containing asbestos were:
Capco Permaft ex Uaterpipe
Capco Pipe Asbestos Cement Pipe
History of Asbestos Use
Leonard Lewisohn, Adolph Lewisohn, John D. Rockefeller, and Henry H. Rogers formed ASARCO, also known as the American Smelting and Refining Company in 1899. The company started well but faced financial struggles when employees decided to strike. The strike lasted for two months and completely shut the company’s production down. After, the company struggled to bounce back, so they merged with M. Guggenheim’s Sons.
After the merger, ASARCO expanded into the mines and refinery industries. By the late 1920s, they were considered the world’s largest nonferrous metals refinery. About twelve years later, the company found itself in financial trouble again with having over $3 million in debt. They decided to focus their time and energy on mining, and in 1952, they entered the asbestos industry. The company began mining for asbestos in Canada and created the largest open-pit asbestos mine, costing over $30 million to build, and they received 100,000 pounds of asbestos yearly.
Companies often add asbestos to products such as cement and roofing to achieve heat resistance. Asbestos is a group of minerals that contain fibers that stop heat, and companies are allowed to use the product as long as it doesn’t account for more than 1% of the product. Employees working for ASARCO were exposed to environments full of airborne asbestos fibers. When exposed to large amounts of the materials, it can cause diseases such as mesothelioma, asbestosis, and cancers with serious long-term effects.
The company continued to get more involved in the asbestos industry by acquiring companies that manufactured asbestos-containing products. They purchased CAPCO, also known as Cement Asbestos Products Company in 1974. CAPCO had been heavily involved in producing asbestos products since the mid-1960s. By working with CAPCO, they were able to make miles of asbestos-laden pipes. ASARCO continued its involvement with asbestos until the early 1990s, meaning they exposed workers to the harmful material for nearly forty years.
By the time ASARCO stopped using asbestos, employees were already becoming ill from the exposure they faced in the past. Both employees and consumers began suing the company, and eventually, ASARCO couldn’t handle the costs. In 1999, the company filed for Chapter 11 Bankruptcy.
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How Do Mesothelioma Trust Funds Work?
Asbestos exposure victim’s diagnosed with mesothelioma and other asbestos-related diseases can submit their claims to asbestos settlement trusts belonging to the bankrupt asbestos companies responsible for their illness. Surviving relatives of mesothelioma that have died from asbestos exposure are also eligible to submit claims to responsible asbestos trust funds.
After submitting a claim, asbestos trust funds decide whether to pay a claim. The decision to pay a claim is made separate from the company that created the trust fund.
Asbestos Trust Fund Information
- There are more than 65+ Asbestos Trust Funds set up by U. S. Courts.
- Asbestos bankruptcy reorganization can be a lengthy process that can span several years.
- Asbestos Trusts publish additional information about their Trust guidelines, qualifications and rules.
- Representatives of current and future Mesothelioma claimants must consent to any significant changes to these trusts.
- Since 1988, Asbestos trusts have paid out about $17.5 billion representing more than 3 million claims.
- Since 2011, Asbestos Trust Funds have combined assets of $36.8 billion.
- Since 2010, the average percentage paid per asbestos victim is 25 percent of a claim.
- Asbestos Trust Funds set Statutes of Limitations that only allow a certain amount of time to file an Asbestos claim.
- Mesothelioma Claimants can sometimes file both Asbestos Trust lawsuits and Asbestos claims.
- U. S. Courts must approve the amount that is set aside before the Asbestos company will be granted bankruptcy protection.
Evidence Required to File an Asbestos Trust Fund Claim
Diagnosis: Medical Documentation, including biopsy information, and pathology report, showing claimant is diagnosed with mesothelioma or an asbestos-related disease.
Physician Statement: The victim must also provide medical documentation to confirm the mesothelioma diagnosis, signed off by a doctor or mesothelioma specialist.
Exposure Evidence: Witness affidavits, employment records, company invoices linking a company product or facility to asbestos exposure.
Asbestos Trust Fund Claims
It is very important to contact a Mesothelioma lawyer soon after you have been diagnosed with Mesothelioma. The only known cause of this Mesothelioma is exposure to asbestos. Mesothelioma is a progressive disease, with a 10-50 year-latency period developing over years or even decades in many patients. Therefore, your statute of limitations does not begin with the time of exposure. Rather, it begins with your diagnosis that you have Mesothelioma.
If you have been diagnosed with Mesothelioma, you have legal rights. But you need to act quickly, because the statute of limitations in most states is 1-3 years.
Mesothelioma and Asbestos Exposure
- Malignant Mesothelioma is commonly diagnosed in people between the ages of 50 and 75 years old.
- There are 3000-3,500 malignant Mesothelioma cases diagnosed each year in the United States.
- 1 in 3 U. S. military veterans will develop an asbestos related disease in their lifetime.
Asarco Asbestos Trust Fund and Mesothelioma Claims
A person diagnosed with Mesothelioma may be entitled to recover compensation for the following:
Factors that May Affect the Value a Mesothelioma Case Include:
- Age, Gender, Location, and Work History
- History of Military Service
- Pain and Suffering
- Where Asbestos Exposure Occurred
- How Many Asbestos Products are involved with Your Exposure
There Are 4 Primary Types of Mesothelioma Claims:
- Product Liability– Can be filed against companies that manufactured and distributed asbestos products.
- Medical Malpractice– Can be filed against doctors or hospitals if they misdiagnose or delay your diagnosis of Mesothelioma.
- Workers Compensation– Can be filed against an employer if you were exposed to asbestos while on the job.
- Wrongful Death– Can be filed against asbestos manufacturers, asbestos distributors, or an employer of a product containing asbestos that directly caused a person’s death if their actions constituted gross negligence for a deceased worker s safety.
How a Mesothelioma Attorney Can Help
An experienced Mesothelioma lawyer will help you to file a Mesothelioma lawsuit to hold negligent asbestos manufacturers and asbestos companies accountable for the severe pain and suffering that comes with a Mesothelioma cancer diagnosis.
Military Veterans Diagnosed With Mesothelioma
Recent Mesothelioma Verdicts
- $4.6 Million Mesothelioma Settlement: For a union insulator that developed malignant Mesothelioma from asbestos exposure.
- $10.2 Million Mesothelioma Verdict: For a Paper Mill worker suffering from pleural Mesothelioma.
- $8 Million Mesothelioma Award: For a man diagnosed with Mesothelioma.
- $1.2 Million Mesothelioma Settlement: For a 76 year-old carpenter that developed malignant Mesothelioma.
- $1.1 Million Veteran Mesothelioma Settlement: For a Navy veteran machinist that developed malignant Mesothelioma at age 71.
- $245,000 Asbestosis Settlement: For a Paper mill worker suffering from Asbestosis.
- $2.5 Million Mesothelioma Settlement: For a union pipefitter man who died from malignant Mesothelioma.
- $2.6 Million Shipyard Worker Mesothelioma Settlement: For the family of a 72-year old shipyard worker with Mesothelioma who suffered secondhand exposure.
- $5 Million Navy Veteran Mesothelioma Verdict: For a Navy Boilerman who developed Mesothelioma during his service.
- $1.8 Million Mesothelioma Settlement: For a carpenter that developed malignant Mesothelioma at age 68.
- $7.5 Million Mesothelioma Verdict: For a woman that developed peritoneal Mesothelioma from laundering her husband s work clothes.
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Settlement Averages for Mesothelioma Lawsuits
The average verdict in a mesothelioma lawsuit is about $2.4 million, and the average settlement is between $1 million and $1.4 million according to Mealey’s Litigation Report.
Malignant Mesothelioma is rare form of cancer that affects lining of the lungs, abdomen, heart, and major organs in the body. Mesothelioma is a disease in which malignant cancer cells are found in the sac lining the chest (pleura) or the abdomen (peritoneum). There are about 3,000 new malignant Mesothelioma cases diagnosed each year in the U. S. If you are experiencing any Mesothelioma symptoms you should contact a doctor immediately.
Diagnosed With Mesothelioma?
If you or a family member has been diagnosed with malignant Mesothelioma you are going to have a lot of questions about living with Mesothelioma and what legal options you have against asbestos manufacturers and asbestos companies for your asbestos exposure. Mesothelioma is a seriously deadly disease. According to the American Cancer Society with the average survival time for people with Mesothelioma is 4-18 months.
Mesothelioma Personal Injury Lawsuit
- Can be filed by anyone after being diagnosed with mesothelioma cancer.
- Can be Filed against companies responsible for a victim’s asbestos exposure.
- A Mesothelioma personal injury lawsuit allows victim’s to receive compensation for pain, and suffering, lost wages, costly treatment, travel, and other and related costs.
Call TOLL FREE 888.640.0914 right now to talk with a live Mesothelioma Counselor that can answer many of your questions and give you the peace of mind that you need.
Family Member Died From Mesothelioma?
If you have a family member that has died from Mesothelioma cancer you should immediately consult with an experienced Mesothelioma diagnosis lawyer about what compensation may be available to you from asbestos trust funds that total more than 30 billion dollars.
Mesothelioma Wrongful Death Lawsuit
- Can be filed by surviving family members after the death of a loved one from mesothelioma cancer.
- Can be Filed against asbestos companies responsible for a victim’s asbestos exposure causing death.
- A Mesothelioma wrongful death lawsuit allows victims to receive compensation for burial and funeral expenses, lost wages, loss of companionship, and other and related costs.
It is VERY IMPORTANT that you file your Mesothelioma claim within your states Statute of Limitations.
We have seen many families lose their right to file a lawsuit because their Statute of Limitations had expired while they were grieving. We know it is a tough time to grieve the loss of a loved one, but please do not let your Statute of Limitations expire for filing your Mesothelioma lawsuit. In most states the Statute of Limitations is 2-3 years. Some states have 6-year Statute of Limitations.
Mesothelioma Latency Period
Mesothelioma has a long latency period of 10-50 years. Many Veterans, Shipyard Workers, Construction Workers, Power Plant Workers, Mill Workers, Steel Workers, Railroad Workers, Pipefitters, Insulators, Electricians, Carpenters, Welders, Auto Mechanics, Veterans, Factory Workers, and laborers are living in the early stages of a variety of asbestos related diseases. Many Mesothelioma lawyers will not accept asbestosis, asbestos lung cancer, pleural plaques, pleural thickening, colon cancer and esophageal cancer cases.
There is More Than 30 Billion Dollars Set Aside for Mesothelioma and Asbestos Victims in Asbestos Bankruptcy Trusts
Need a Mesothelioma Lawyer?
If you or a family member has been diagnosed with Mesothelioma or an asbestos related disease, we can help you start a Mesothelioma lawsuit against asbestos companies responsible for your injuries. Our experienced nationwide Mesothelioma lawyers will come to you.
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We are always available to answer your questions with a phone call and will always keep you informed. We will do everything we can to ensure that you receive the highest compensation for your injuries.
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Workers and Asbestos Containing Products
People that worked in shipyards, refineries, power plants, mills, factories, plants, salvage yards, engine rooms, installing brakes, gaskets, insulation, valves and pipes have a higher risk of developing an asbestos related disease in their lifetime.
How Second-Hand Asbestos Exposure Occurs
When asbestos is disturbed, broken apart, cut, decayed, or damaged, it releases tiny asbestos microscopic fibrous particles that can cling to hair and clothing. These asbestos fibers are easily transferred to others where they can accumulate in the lining of lungs that cause mesothelioma lung
Top 225+ Most Mentioned Asbestos Products in Lawsuits
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