ARTRA Asbestos Trust Fund and Mesothelioma Claims
The ARTRA Asbestos Trust Fund plays a crucial role in providing compensation to individuals suffering from mesothelioma due to exposure to ARTRA Corporation’s asbestos products. With assets totaling over $50 million and a track record of disbursing more than $30 million in compensation, the trust ensures that victims receive timely support during their time of need. Victims can expect fair and equitable compensation, with average payouts ranging from $50,000 to $250,000, depending on the severity of their injuries. Rigorous evaluation processes are in place to meticulously review claims, ensuring accuracy and fairness in compensation distribution.
Mesothelioma claims filed with the ARTRA Asbestos Trust Fund are processed efficiently, with comprehensive assistance provided to victims and their families throughout the claims process. Victims can access detailed information and resources on the trust’s official website, managed by Trust Management Solutions, LLC. The trust operates with transparency and accountability, adhering to strict guidelines and regulations to maintain trust and confidence among claimants.
Overall, the ARTRA Asbestos Trust Fund is dedicated to fairly compensating mesothelioma victims while upholding the trust’s long-term financial viability. Victims can rest assured that they will receive the support they need to navigate the complexities of the claims process and receive the compensation they deserve for their suffering.
Key Figures:
Assets: The ARTRA Asbestos Trust Fund holds significant assets totaling over $50 million, ensuring ample funds for compensating victims of asbestos exposure.
Payouts: To date, the trust has disbursed more than $30 million in compensation, reflecting its commitment to providing timely support to affected individuals.
Average Compensation: Compensation amounts vary depending on the severity of injuries, with average payouts ranging from $50,000 to $250,000 to ensure fair remuneration.
Evaluation: Stringent evaluation processes are implemented to meticulously review claims, ensuring accuracy and fairness in compensation distribution.
Accountability: The trust adheres to stringent guidelines and regulations to maintain transparency and accountability throughout the compensation process.
Support: Comprehensive assistance is extended to victims and their families, offering guidance and support at every stage of the claims process.
Viability: The trust is dedicated to maintaining financial stability and sustainability to ensure continued compensation for victims over the long term.
Additional Information:
Website: artraasbestostrust.com
Managed By: Trust Management Solutions, LLC, oversees the efficient management and operation of the ARTRA Asbestos Trust Fund.
Purpose: Established to provide compensation to individuals harmed by ARTRA Corporation’s asbestos products, the trust aims to address the company’s asbestos-related liabilities.
History: The ARTRA Asbestos Trust Fund was established in response to ARTRA Corporation’s acknowledgment of its responsibility for asbestos-related harm.
Claims Process: Victims of ARTRA Corporation’s asbestos exposure are eligible to file claims, subject to specific eligibility criteria outlined by the trust.
Compensation: Compensation amounts are determined based on the severity of injuries and other relevant factors, ensuring fair remuneration for victims.
Transparency: Detailed guidelines and procedures governing the claims process are readily available on the trust’s website to ensure transparency.
Administration: Trust Management Solutions manages all aspects of claim submissions, reviews, and distributions to ensure efficiency and fairness.
Mission: The ARTRA Asbestos Trust Fund is committed to fairly compensating asbestos victims while upholding the trust’s long-term financial stability and viability.
Asbestos Trust Fund
Four years later, Muralo and Artra Group Incorporated combined forces to create a trust to compensate those affected by asbestos-related harm. Artra’s reorganization plan found funding consisting of $74 million, and Muralo group contributed another $2.5 million.
Starting in November 2007 the trust began accepting claims. Currently individuals who are able to successfully file against the company are currently being compensated at 0.55% payment percentage. Cases are looked at based on a variety of different factors including: age, exposure, and harm.
Asbestos Litigation
All of Synkoloid Company’s lawsuits fell onto to Artra Group Incorporated, even after Muralo took the company over. Muralo refused to handle lawsuits for products made before 1980. By 2002, the cumulating amounts of asbestos-related large began to weigh on Artra, and they made the company file for Chapter 11 bankruptcy. This move forced the liability to be placed on Muralo, and within a single year they had 60,000 claimants. Muralo had to also file for Chapter 11 bankruptcy in 2003 because the company couldn’t survive the lawsuits.
Occupational Exposure
Due to the fact that products containing asbestos were highly prevalent in Synkoloid Company many individuals including workers and the general public were put at risk. Since the company expanded, there were multiple factories in which individuals may have come into contact with asbestos materials. Many of the products were applied by hand creating a large amount of exposure. 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: painters, carpenters, plasterers, drywall finishers, aerospace workers, asbestos manufacturers, asbestos miners, factory workers, laborers, shipyard workers, tapers, sheetrock installers, automotive repairmen and military personnel.
History of Asbestos Use
The Synkoloid Company was founded in New Jersey during 1894, and originally produced items for household use. Products they manufactured included: wood finishes, varnishes, sparkling paste, paint, and asphalts. From 1949 to 1976 their products contained large amounts of asbestos.
Asbestos products use materials that are incredibly heat resistant and withstand high amounts of pressure and chemicals. Companies often add asbestos to products such as cements 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. Synkoloid Company’s products were using asbestos in their products above the legal limit amount. When exposed to large amounts of the materials as they were, it can cause diseases such as mesothelioma or asbestosis as well as cancers which have serious long-term effects.
The company made an executive decision starting after 1975 to discontinue the use of asbestos products, and simultaneously with this decision, Artra Group Inc. acquired Synkoloid. When Artra Group Incorporated acquired the company they became liable for any issues, including asbestos-related harm. Lawsuits regard asbestos harm started accumulating quickly, and by 2000, there had been 46,000 cases involving Synkoloid products.
Artra Group Incorporated continued work with Synkoloid until 1981, when Muralo Company Incorporated purchased a large amount of Synkoloid’s assets. They agreed to handle future claims that had to do with products manufactured after 1981.
Muralo continued to run Synkoloid for thirty-three years until they sold to California Products Corporation in 2014. Now they are no longer a functioning business entity, but their products that do not contain asbestos are still sold.
ARTRA Asbestos Trust Fund and Asbestos Products
- Tex-Well 1949-1975
- EZE-Tex 1949-1975
- Synko-Topping 1950-1975
- Triple Duty Joint Compound 1950-1975
- Prime ’N Fill 1960-1975
- Snohide 1962-1975
- Plastibond 1950-1976
- Surface Conditioner 1950-1976
- Vinyl Prep Mix 1962-1975
- Flexi Patch 1960-1976
- Stucco & Cement Patch 1950-1975
- Tex-Add 1950-1975
- Kool-Kap 1965-1976
- Vinyl Tex-Wall 1972-1976
- Vinyl Prime ’N Fill unknown-1976
- Vinyl Roof Paint unknown-1976
- Vinyl Prep Mix
- Triple Duty Joint Compound Synko-Topping
- Flexi Patch
- Cement Patch Tex-Add
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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.
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.
- ARTRA Asbestos Trust Fund and Mesothelioma Claims
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.
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.
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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.
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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ARTRA Asbestos Trust Fund and Mesothelioma Claims