Asbestos
Lawsuit
"Asbestos
Victims Continue to be Victimized"
June 30, 2003......Thousands of South African people that
have fallen terminally ill to asbestos exposure conditions
endured a four-year asbestos lawsuit and was promised multi
millions of dollars but was just informed they will receive
less than half of the amount promised. The company failed
to honor the December 21, 2001 asbestos settlement involving
7,500 asbestos claimants. The entire asbestos- mesothelioma
lawsuits took so long to finalize that 10% of the claimants
have already died, approximately 776 people. In addition to
mesothelioma, asbestos exposure caused asbestosis as well
as other serious illnesses.
Contact us to confer with an asbestos
mesothelioma lawyer.
"Asbestos
Trust in Midst of Approval" BREAKING
NEWS!!
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. For more information
contact us to confer with an asbestos
attorney.
"Asbestos
Companies File Bankruptcy"
Southfield, Michigan, October 1, 2001... Federal-Mogul Corporation
(NYSE: FMO) today announced that to separate its asbestos
liabilities from its true operating potential, the company
and its United States subsidiaries have voluntarily filed
for financial restructuring under Chapter 11 of the U.S Bankruptcy
Code. In addition, Federal-Mogul subsidiaries in the United
Kingdom have filed jointly for Chapter 11 and Administration
under the U.K. Insolvency Act of 1986. No company subsidiaries
outside of the United States and the United Kingdom are included
in these filings.
The filings, made today in the U.S. Bankruptcy Court in Wilmington,
Delaware, and the High Court of Justice, Chancery Division,
London, England, enable Federal-Mogul to develop a plan to
resolve its asbestos liabilities. During these restructuring
proceedings, Federal-Mogul will continue business operations
without interruption, and with the full support of its major
customers and suppliers. Read
more at
http://www.federal-mogul.com/reorganization/en/index.html
"W.
R. Grace & Co. to Resolve Asbestos Claims"
W.
R. Grace & Co. (NYSE: GRA) today announced that the Company
has voluntarily filed for reorganization under Chapter 11
of the United States Bankruptcy Code in response to a sharply
increasing number of asbestos claims. This Chapter 11 filing
includes 60 of Grace's domestic entities. None of the Company's
foreign subsidiaries are included in this filing.
The filing, made today in the U.S. Bankruptcy Court in Wilmington,
Delaware, will enable the Company to continue to operate its
businesses in the usual manner under court protection from
its creditors and claimants, while using the Chapter 11 process
to develop and implement a plan for addressing the asbestos-related
claims against it. The Company intends to work closely with
asbestos claimants and other creditors to develop a plan of
reorganization that will both address valid asbestos claims
in a fair and consistent manner and establish a sound capital
structure for long-term growth and profitability. Read more
at
http://www.grace.com/html/reorg/pressrel.html
"USG
Files For Bankruptcy"
Since 1994, U.S. Gypsum has been named in more than 250,000
asbestos-related personal injury claims, and has paid more
than $450 million for litigation before insurance recoveries.
The subsidiary's personal injury costs have increased from
$30 million in 1997 to more than $160 million last year, and
were expected to exceed $275 million this fiscal year.
USG filed for bankruptcy protection in U.S. District Court
in Wilmington, Del., the state where USG is incorporated.
''Rather than dealing with these lawsuits in state civil courts,
we needed to get them all in one court and before one judge
and have a fair hearing,'' Foote said. ''There are true victims
of asbestos-related diseases. Moneys need to flow to them.
We will recognize and honor those claims.'' Read more at
http://www.suntimes.com/output/business/cst-fin-usg26.html
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