In financial terms, asbestos-related litigation is one of the largest areas of civil law in the United States. Literally billions of dollars in lawsuit judgments and settlements have been awarded since it became clear that certain employers, manufacturers, and others systematically pursued a policy of suppression and sacrificed worker safety for profit in asbestos-related professions. However, litigation is still a lengthy and confusing process. Filing a mesothelioma claim or other lawsuit requires expertise and significant resources that are only available from an experienced asbestos litigation practice such as the Madeksho Law Firm. If you allow our attorneys to handle your mesothelioma or asbestos-related claim, we can offer you an excellent chance of obtaining appropriate compensation for your illness.
Owing to the sheer number of individuals affected by asbestos, as well as the high costs of treatment and reduced demand for products containing asbestos, many mesothelioma claim defendants and other asbestos litigation defendants have recently filed for bankruptcy. According to federal bankruptcy law, any lawsuits against a party that has filed for bankruptcy are suspended for the duration of the bankruptcy proceedings. Normally, these defendants will seek the bankruptcy court’s approval for a reorganization plan that will direct litigation to a settlement trust that is established as part of the bankruptcy agreement.
Bankruptcy proceedings are typically lengthy, and a mesothelioma claim or other piece of asbestos litigation against these defendants may be delayed for years while bankruptcy proceedings continue. In the end, it may be the case that such litigation is only paid at a fraction of the declared value of the case because of the limited resources available to pay these claims. Such claims against a bankruptcy trust are handled separately from those against still-solvent companies and other defendants.
During bankruptcy proceedings, trusts are established using the available resources and insurance of the company in question. These bankruptcy trusts will pay for all pending and future damages against that company. Because many of the largest asbestos defendants in the United States have declared bankruptcy, most individuals wishing to file a mesothelioma claim or engage in another type of asbestos litigation will have a claim against one or more bankruptcy trusts. Each bankruptcy trust has established different standards for evaluating and compensating victims. They may require the victim’s medical information, proof of asbestos exposure, and other such materials before paying a claim.
With decades of experience at the forefront of asbestos litigation, the Madeksho Law Firm is adept at handling cases against both solvent defendants and bankruptcy trusts. We make the most of each mesothelioma claim, minimizing your wait time and maximizing the value of each case. Contact our law firm today for a free case evaluation.
To learn more about asbestos litigation, or to discuss filing a mesothelioma claim with an expert lawyer, contact us today.
Contact the Madeksho Law Firm, specializing in mesothelioma and asbestos litigation, to speak with our lawyers about your case. Our consultations are free, and we serve asbestos victims nationwide.