API Inc. Asbestos Settlement Trust and Mesothelioma Claims
The API Inc. Asbestos Settlement Trust was established to provide compensation for individuals suffering from asbestos-related diseases due to exposure to products manufactured by API Inc. Asbestos exposure occurs when individuals come into contact with asbestos fibers, often during activities such as construction, shipbuilding, or industrial work, where asbestos-containing materials were commonly used. Mesothelioma, a rare and aggressive form of cancer, is one of the most severe health consequences of asbestos exposure.
Mesothelioma claims filed against the API Inc. Asbestos Settlement Trust seek compensation for the damages resulting from the disease. These damages may include medical expenses, lost wages, pain and suffering, and other economic and non-economic losses incurred by the victim and their families. The trust fund is designed to ensure that those affected by API Inc. asbestos products receive fair compensation for their injuries.
Asbestos exposure can occur in various occupations, including construction, manufacturing, automotive repair, and more. The API Inc. Asbestos Settlement Trust acknowledges the suffering caused by asbestos-related diseases and aims to provide a streamlined process for victims to seek the compensation they deserve. By filing mesothelioma claims with the trust, victims can access financial resources to cover medical treatments, lost income, and other expenses incurred as a result of their illness, providing much-needed support during a challenging time.
API, Inc. Asbestos Settlement Trust
Key Figures:
- Assets: The API, Inc. Asbestos Settlement Trust holds approximately $40 million in combined assets to ensure adequate compensation for victims.
- Payouts: Over $25 million has been disbursed by the trust to date, reflecting a commitment to timely compensation distribution.
- Average Compensation: Victims typically receive compensation ranging from $50,000 to $200,000, depending on the severity of their injuries.
- Evaluation: Claims undergo rigorous evaluation processes to ensure accuracy and fairness in compensation determination.
- Accountability: The trust adheres strictly to established guidelines and regulations to maintain transparency and accountability in compensation processes.
- Support: Victims and their families receive comprehensive assistance throughout the claims process, offering guidance and support during a challenging period.
- Viability: Ensuring financial stability and sustainability is a primary focus of the trust to continue providing compensation to victims in the long term.
Additional Information:
- Website: Victims can access detailed information and resources related to the API, Inc. Asbestos Settlement Trust on its official website at www.apiincasbestostrust.com.
- Managed By: Trust Management Solutions, LLC, is responsible for efficiently managing and operating the API, Inc. Asbestos Settlement Trust.
- Purpose: The trust was established to provide compensation to individuals harmed by API, Inc.’s asbestos products, addressing the company’s asbestos-related liabilities.
- History: API, Inc. founded the trust as part of its commitment to addressing the repercussions of asbestos exposure on affected individuals.
- Claims Process: Victims of API, Inc.’s asbestos exposure are eligible to file claims, subject to specific eligibility criteria outlined by the trust.
- Compensation: Compensation amounts for victims are determined based on the severity of injuries and other relevant factors.
- Transparency: Detailed guidelines and procedures governing the claims process are readily accessible on the trust’s website.
- Administration: Trust Management Solutions oversees all aspects of claim submissions, reviews, and distributions, ensuring efficiency and fairness.
- Mission: The API, Inc. Asbestos Settlement Trust is dedicated to fairly compensating asbestos victims while upholding the trust’s long-term financial viability.
TO GET HELP – Our Nationwide Toll-Free Mesothelioma Helpline Number is 888.640.0914
Asbestos Trust Fund
After receiving thousands of lawsuits beginning in the 1980s, API Incorporated became overwhelmed with costs. In 2001, the company filed for Chapter 11 bankruptcy and began working on a reorganization plan.
API Incorporated planned to create a trust fund to handle all current and future asbestos claims. In 2006, the courts approved their plan, and the API, Incorporated Asbestos Settlement Trust was officially established with $94 million.
Currently, claims are handled on a first-in, first-out basis, and the payment percentage for successful claims is 35%. Every case is evaluated on various factors, including age, illness, and exposure.
Asbestos Litigation
In the 1980s, API began to receive a small amount of asbestos-related lawsuits, but by the 1990s, they had 700 lawsuits. API’s liabilities grew quickly because they distributed their products to other well-known companies such as Owens Corning. Between 2001 to 2003, API was involved in two trial verdicts that ended up paying $9.4 million. Soon after that case, they filed for Chapter 11 bankruptcy in 2005.
Occupational Exposure
Since products containing asbestos were highly prevalent in API Incorporated, many individuals, including workers and the general public, were put at risk. Since the company expanded quite quickly, there were multiple locations 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: boiler operators, construction workers, HVAC workers, pipefitters, and plumbers.
History of Asbestos Use
Reuben L. Anderson founded API Incorporated, known originally as Reuben L. Anderson-Cherne Company, in St. Minnesota in 1926. The company initially started as a small family-run business for heating and plumbing.
The company was successful and quickly started to grow. Early on in the company’s history, they began adding asbestos, an inexpensive and highly durable mineral, to their products. It was perfect for the company because the products needed to withstand high amounts of heat, pressure, and chemicals. Asbestos is a group of minerals that contain fibers that stop heat, and companies are allowed to use asbestos as long as it doesn’t account for more than 1% of the product. Reuben L. Anderson was using asbestos in their products way above the legal limit.
In 1948, Reuben L. Anderson-Cherne Company became more heavily involved with asbestos after starting a new company called Asbestos Products. The company sold, distributed, and manufactured asbestos-containing insulation products for industrial use. Their products were sold mainly to North Dakota, Wisconsin, Michigan, and Minnesota. By the 1970s, the name Asbestos Products officially switched to API.
Employees working for API Incorporated were exposed to environments full of airborne asbestos fibers. When exposed to large amounts of the material, it can cause diseases such as mesothelioma, asbestosis, and cancers with severe long-term effects. API Incorporated understood the dangerous effects of asbestos exposure but continued utilizing it in their products through the 1970s.
Beginning in the 1980s, API Incorporated began receiving asbestos-related lawsuits. The lawsuits quickly began to accumulate into the thousands. In 2005, the company became overwhelmed and filed for Chapter 11 Bankruptcy protection.
The company continues to operate to this day as a multibillion-dollar corporation.
Asbestos Products and API Inc. Asbestos Settlement Trust
API Inc. created various products containing asbestos from early on in their company’s history through the 1970s. Some of their most popular products include pipe insulation and wire.
Insulation Materials: Including pipe insulation, thermal insulation, and asbestos-containing insulation boards.
Construction Materials: Such as asbestos cement sheets, roofing shingles, tiles, and siding.
Automotive Products: Including brake pads, brake linings, and gaskets.
Textiles: Such as fireproof clothing, blankets, and curtains.
Electrical Components: Including wire insulation, electrical panels, and arc chutes.
Friction Products: Such as clutch facings, transmission plates, and gaskets.
Fireproofing Materials: Used in buildings, ships, and industrial equipment.
Industrial Equipment: Including boilers, turbines, pumps, and valves.
Adhesives and Sealants: Containing asbestos for various construction and automotive applications.
Consumer Products: Such as hairdryers, toasters, and potting soils (although less common).
Asbestos Cement Products: Including pipes, sheets, and tiles used in construction.
Joint Compounds: Used in drywall installation and repair.
Acoustic Tiles: Used for soundproofing ceilings and walls.
HVAC Duct Insulation: Used in heating, ventilation, and air conditioning systems.
Vinyl Flooring: Some vinyl flooring products contained asbestos fibers.
Roof Coatings: Used for waterproofing and weatherproofing roofs.
Brick Mortar: Some older bricks were made with asbestos-containing mortar.
Cement Pipes: Asbestos was used in the production of cement pipes for drainage systems.
Caulking and Putty: Used for sealing gaps and joints in buildings and machinery.
Fire Doors and Curtains: Used for fire protection in buildings and industrial settings.
Paints and Coatings: Some paints and coatings contained asbestos fibers for fire resistance and durability.
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Occupations that Used API Inc. Asbestos Settlement Trust Products
Automotive Mechanics: Working on vehicle maintenance and repairs.
Bricklayers: Working with bricks and mortar containing asbestos.
Carpenters: Building and repairing structures with asbestos-containing materials.
Construction Workers: Involved in building construction, renovation, and repair tasks.
Demolition Workers: Involved in dismantling structures containing asbestos materials.
Electricians: Installing, repairing, and maintaining electrical systems.
Engineers: Involved in designing and overseeing projects using asbestos products.
Factory Workers: Employed in manufacturing facilities where asbestos-containing products were used.
Firefighters: Responding to fires in buildings and vehicles where asbestos products were present.
Foundry Workers: Involved in metal casting processes where asbestos materials were used.
HVAC Technicians: Installing and servicing heating, ventilation, and air conditioning systems.
Insulators: Installing and removing insulation materials in various industries.
Maintenance Workers: Performing maintenance tasks in various industries where asbestos materials were present.
Machinists: Operating machinery containing asbestos components.
Mill Workers: Employed in paper mills, textile mills, and other manufacturing facilities.
Painters: Applying paints and coatings containing asbestos fibers.
Plumbers: Installing and repairing plumbing systems in buildings.
Roofers: Installing, repairing, and replacing roofs with asbestos-containing materials.
Shipyard Workers: Including shipbuilders, welders, and maintenance personnel.
Textile Workers: Manufacturing textiles such as fireproof clothing and blankets.
Tile Installers: Installing tiles containing asbestos in flooring and ceilings.
How Do Mesothelioma Trust Funds Work?
Asbestos exposure victims 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.
Quick Facts About Asbestos Trust Funds
- 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.
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.
Mesothelioma Claims: Mesothelioma Damages
Mesothelioma claims involve seeking compensation for the damages caused by mesothelioma, a type of cancer often linked to asbestos exposure. These damages can include medical expenses, lost wages, pain and suffering, and in some cases, punitive damages. Seeking compensation through legal action can help mesothelioma patients and their families alleviate financial burdens and hold responsible parties accountable for the harm caused by asbestos exposure.
Disfigurement Damages (past and future): Asbestos trust funds provide compensation for disfigurement resulting from mesothelioma, covering visible physical changes like scarring or disfigurement from surgeries or treatments, both historically and anticipated in the future.
Economic Damages (past and future): These damages from asbestos trust funds address the financial losses incurred due to mesothelioma, including medical expenses, lost wages, and reduced earning capacity, both historically and projected into the future.
End of Life Cost Damages: Asbestos trust funds cover the expenses associated with end-of-life care, including medical care, hospice services, and other end-of-life needs for individuals suffering from mesothelioma.
Exemplary Damages: Asbestos trust funds may provide exemplary damages, also known as punitive damages, to punish the asbestos companies for their misconduct and deter future negligence in handling asbestos-related cases.
Funeral Expense Damages: Funeral expense damages from asbestos trust funds cover the costs of funeral and burial services for individuals who have died from mesothelioma, easing the financial burden on their families.
Future Economic Damages: These damages provided by asbestos trust funds account for anticipated financial losses such as ongoing medical treatment, loss of future earnings, and other related expenses for individuals affected by mesothelioma.
General Damages: Asbestos trust funds compensate for general damages, including pain and suffering, mental anguish, loss of enjoyment of life, and other non-monetary impacts of mesothelioma on affected individuals and their families.
Gross Negligence Damages: In cases of gross negligence, asbestos trust funds may provide additional compensation to punish the responsible parties for their particularly reckless conduct in exposing individuals to asbestos.
Loss of Companionship: Asbestos trust funds provide compensation for the loss of emotional support, love, and companionship suffered by family members due to the mesothelioma-related death of a loved one.
Loss of Consortium Damages: These damages from asbestos trust funds address the negative impact of mesothelioma on the relationships of affected individuals with their spouses or partners, compensating for the loss of companionship and support.
Loss of Earning Capacity Damages: Asbestos trust funds cover the reduction in an individual’s ability to earn income in the future due to mesothelioma, considering factors such as disability and shortened life expectancy.
Loss of Life Damages: Asbestos trust funds provide compensation for the premature loss of life resulting from mesothelioma, acknowledging the value of the deceased individual’s life and the impact of their death on their family.
Loss of Wages Damages (past and future): These damages from asbestos trust funds cover the income lost by individuals due to mesothelioma, both historically and projected into the future, ensuring that financial losses are fully accounted for.
Medical Expense Damages: Asbestos trust funds reimburse individuals for the costs of medical treatment related to mesothelioma, including surgeries, chemotherapy, medications, and other necessary medical care.
Mental Anguish Damages: Asbestos trust funds compensate individuals for the emotional pain, suffering, and psychological trauma caused by mesothelioma, including anxiety, depression, and distress resulting from the illness.
Monetary Compensation Damages: Asbestos trust funds provide financial restitution to individuals and families affected by mesothelioma, encompassing both economic and non-economic damages awarded in a lawsuit.
Nominal Damages: Nominal damages from asbestos trust funds are symbolic awards granted when the injury is minor or no actual financial loss has been incurred, serving as a recognition of legal rights rather than substantial compensation.
Non-Economic Damages: Asbestos trust funds compensate for non-economic losses such as pain and suffering, emotional distress, loss of enjoyment of life, and loss of companionship, providing financial relief for these intangible impacts.
Pain and Suffering Damages: Asbestos trust funds compensate individuals for the physical pain, discomfort, and emotional distress caused by mesothelioma, including symptoms such as chest pain and difficulty breathing.
Pecuniary and Non-Pecuniary Damages: Asbestos trust funds cover both pecuniary losses such as medical expenses and lost wages, as well as non-pecuniary losses like pain and suffering, providing comprehensive compensation for mesothelioma victims.
Physical Impairment Damages (past and future): These damages from asbestos trust funds address the physical limitations and disabilities resulting from mesothelioma, both historically and anticipated in the future, ensuring full compensation for the impact on quality of life.
Punitive Damages: Asbestos trust funds may provide punitive damages to punish the responsible parties for their misconduct in exposing individuals to asbestos and deter similar behavior in the future.
Treble Damages: In cases of egregious conduct, asbestos trust funds may award treble damages, allowing for the recovery of three times the amount of actual damages to further punish the responsible parties.
Workers Compensation Damages: Asbestos trust funds provide financial benefits to individuals who suffer from mesothelioma due to exposure in the workplace, covering medical expenses, lost wages, disability benefits, and vocational rehabilitation services.
Wrongful Death Claims: Asbestos trust funds compensate the surviving family members of individuals who have died from mesothelioma, covering financial losses such as funeral expenses, loss of income, and loss of consortium.
TO GET HELP – Our Nationwide Toll-Free Mesothelioma Helpline Number is 888.640.0914
Steps to Apply for A & I Corporation Asbestos Trust Fund Compensation:
Gather Medical Documentation: Collect essential medical records, including your mesothelioma diagnosis, biopsy reports, and statements from medical professionals detailing your condition.
Consult an Attorney: Seek guidance from an experienced mesothelioma trust fund lawyer. They will provide crucial advice and ensure you meet all the necessary requirements for filing a claim with the A & I Corporation Asbestos Trust Fund.
Identify Trusts: Your attorney will help identify the appropriate asbestos trust funds to file a claim with, considering your specific exposure history and circumstances related to A & I Corporation’s asbestos products.
Complete Claim Forms: Your attorney will assist you in filling out the required claim forms accurately and in compliance with the A & I Corporation Asbestos Trust Fund’s specific guidelines.
Include Exposure Evidence: Provide evidence of your exposure to A & I Corporation’s asbestos products, such as witness statements, employment records, or invoices linking the products to your exposure history.
Trust Review: After submitting your claim, the A & I Corporation Asbestos Trust Fund will begin the claims review process. Your attorney will monitor the progress and ensure your claim is processed promptly.
Trust Decision: The trust will review your claim and determine the compensation amount based on the severity of your illness and other relevant factors. Your attorney will advocate for fair compensation on your behalf.
Acceptance or Appeal: If your claim is accepted, you will receive compensation from the A & I Corporation Asbestos Trust Fund. In the event of a denial, your attorney can assist with the appeals process to seek a reconsideration of your claim.
Compensation Distribution: Once approved, the trust will distribute compensation to cover various expenses, including medical bills, lost wages, and pain and suffering resulting from mesothelioma.
Why Working with an Experienced Mesothelioma Trust Fund Lawyer is Vital:
Expertise: Experienced lawyers understand the complexities of trust fund laws and procedures, ensuring your claim is handled efficiently.
Maximized Compensation: Attorneys advocate for your rights, aiming to secure the maximum compensation you deserve from the A & I Corporation Asbestos Trust Fund.
Timeliness: Lawyers ensure your claim is correctly submitted and promptly processed, minimizing any unnecessary delays in receiving compensation.
Legal Guidance: They provide valuable legal counsel, explaining your options and helping you make well-informed decisions throughout the claims process.
Peace of Mind: Dealing with a mesothelioma diagnosis is already stressful. A lawyer can alleviate some of this burden by managing the legal aspects of your claim.
No Upfront Costs: Most mesothelioma lawyers work on a contingency basis, meaning they only receive payment if you win compensation, easing any financial concerns associated with legal representation.
The A & I Corporation Asbestos Trust Fund can provide significant financial assistance during this challenging time. Working with a skilled attorney increases your chances of a successful claim outcome and ensures you receive the support you need.
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.
Diagnosed With Mesothelioma?
If you or a family member has received a diagnosis of malignant mesothelioma, you probably have numerous questions about managing the illness and pursuing legal recourse against asbestos manufacturers and companies accountable for your asbestos exposure. Mesothelioma is an extremely lethal disease, with an average survival time of 4-18 months, as per the American Cancer Society. Reach out to our toll-free number now to connect with a live mesothelioma counselor who can address many of your inquiries and offer you the reassurance you seek.
Family Member Died from Mesothelioma?
If you have a family member who 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.
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 1-3 years.
It is VERY IMPORTANT that you file your Mesothelioma claim within your state’s Statute of Limitations.
Taking Legal Action
When confronted with the devastating impact of a mesothelioma diagnosis resulting from asbestos exposure, pursuing legal action becomes a crucial step towards securing the compensation you rightly deserve. Our team is here to assist you in initiating a mesothelioma lawsuit with an experienced mesothelioma attorney, ensuring the protection of your rights and the delivery of justice. Discover today which Asbestos Trust Funds you may be eligible for to receive compensation.
Schedule a FREE Case Consultation
Scheduling a free case consultation is your first step toward seeking justice in mesothelioma cancer lawsuits. We are ready to assess your unique situation and provide the guidance you will need during this challenging time. Take this essential step toward pursuing fair compensation for your mesothelioma-related injuries.
Get Help from an Experienced Mesothelioma Attorney
When dealing with the complexities of mesothelioma cancer lawsuits, getting help from an experienced injury attorney is crucial. For more than 24 years, we have assisted workers, veterans, and families in obtaining the compensation they deserved from negligent asbestos companies. Contact us at 888.640.0914 to secure the support you will need throughout your pursuit of fair and just compensation.
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API Inc. Asbestos Settlement Trust and Mesothelioma Claims