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Asbestos Trust Funds

A mesothelioma diagnosis will change a person’s life. Mesothelioma is an aggressive and deadly form of cancer that has no cure. Caused by long-term exposure to asbestos, victims of this illness are often left wondering if they can hold someone accountable for what has happened to them. Many victims are not diagnosed until decades after they were exposed to asbestos. At the Williams Law Firm, we want victims to know that there are many bankruptcy trust funds set up to help mesothelioma victims. We have decades of experience helping victims and their families secure the compensation they deserve.

What Are Asbestos Or Mesothelioma Trust Funds?

A mesothelioma trust fund is created on behalf of negligent companies that have gone bankrupt that exposed workers to asbestos. These funds are established during the bankruptcy process to set aside money for any future asbestos exposure-related claims. These bankruptcy funds protect victims who deserve compensation for what has happened to them. Typically, when companies file for Chapter 11 bankruptcy, they seek to reorganize their finances in a way that allows them to continue to do business while they pay off their debts. This bankruptcy typically protects them from class-action lawsuits. However, the mesothelioma trust funds make money available to those exposed to asbestos.

How Do You File A Mesothelioma Trust Fund Case?

These cases require assistance from a New York asbestos attorney because the process can become complicated. Your attorney will work to ensure all of the proper documentation is gathered. Each trust has a different process, and they each set their own timeline in which cases must be filed. Typically, this is two to three years after a mesothelioma diagnosis.

Your attorney will gather your medical and employment records and fill out all documentation required by the mesothelioma trust.

Typically, the evidence required for these cases includes:

  • Proof of mesothelioma diagnosis
  • Physician statement confirming the diagnosis
  • Proof of exposure to asbestos from that particular trust
  • Medical documentation describing the extent asbestos contributed to the victim’s disease

These claims are submitted to a bankruptcy trust administrator, not a judge or jury. The trust administrator will review the claim and all of the documentation submitted and determine the amount a mesothelioma victim should be paid. Your attorney will work to resolved any disputes in the amount the trust administrator approves and how much you think you should receive.

You may be able to file claims against more than one asbestos trust fund. Your attorney will work to determine how many funds you may have a claim against.

Can You Sue A Bankrupt Company?

No, mesothelioma victims cannot file a personal injury lawsuit against a company that successfully files for bankruptcy protection. These companies are protected from asbestos-related lawsuits. That is why the law required them to establish mesothelioma trust funds.

Claims made with these trust funds are not lawsuits, but they can still pay out a significant amount of compensation to workers injured by negligent companies that exposed them to asbestos.

However, if your asbestos exposure was caused by a solvent company, you are entitled to file a personal injury lawsuit. These companies are not afforded bankruptcy protection. A personal injury lawsuit will have an entirely different process, and you will need a skilled mesothelioma attorney to help you. Regardless of how you pursue compensation, the Williams Law Firm is ready to help. You can contact us for a free consultation of your case by clicking here or by calling (855) 575-6376.

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