ASARCO Asbestos Personal Injury Settlement Trust and Mesothelioma Claims
The ASARCO Asbestos Personal Injury Settlement Trust serves as a vital resource for individuals afflicted with mesothelioma due to exposure to ASARCO’s asbestos-containing products. With assets exceeding $500 million and a history of disbursing substantial compensation, totaling over $300 million to date, the trust is committed to providing timely support to victims. Compensation amounts vary based on the severity of injuries, with average payouts ranging from $50,000 to $300,000, ensuring fair remuneration for victims’ suffering.
Mesothelioma claims filed with the ASARCO Asbestos Personal Injury Settlement Trust undergo rigorous evaluation processes to ensure accuracy and fairness in compensation distribution. Victims receive comprehensive assistance throughout the claims process, including access to detailed information and resources via the trust’s official website, managed by Trust Management Solutions, LLC. Transparency and accountability are paramount, with the trust strictly adhering to established guidelines and regulations to maintain trust and confidence among claimants.
The ASARCO Asbestos Personal Injury Settlement Trust is dedicated to upholding victims’ rights and ensuring their long-term financial stability. Victims can rely on the trust’s commitment to fairly compensating mesothelioma victims while preserving the trust’s financial viability. With experienced legal counsel, victims can navigate the complexities of the claims process with confidence, knowing they have the support they need to secure the compensation they deserve for their pain and suffering.
Image Source: envirofinancegroup.com
ASARCO Asbestos Personal Injury Settlement Trust
Key Figures:
Assets: The ASARCO Asbestos Personal Injury Settlement Trust boasts assets exceeding $500 million, ensuring substantial funds for compensation to victims.
Payouts: Over $300 million has been disbursed to date, demonstrating a commitment to providing timely and substantial compensation to victims.
Average Compensation: Compensation amounts range from $50,000 to $300,000 on average, tailored to reflect the severity of injuries and ensure equitable remuneration for victims’ suffering.
Evaluation: Each mesothelioma claim undergoes meticulous evaluation processes to uphold accuracy and fairness in compensation distribution.
Accountability: The trust adheres rigorously to established guidelines and regulations, fostering trust among claimants through transparency and accountability in its operations.
Support: Victims and their families receive comprehensive assistance throughout the claims process, with access to detailed information and resources available on the trust’s official website.
Viability: The trust remains dedicated to ensuring victims’ long-term financial stability while preserving its own financial integrity.
Additional Information:
Website: Victims can access detailed information and resources on the trust’s official website, managed by Trust Management Solutions, LLC.
Purpose: Established to provide compensation to individuals adversely affected by ASARCO’s asbestos products, the trust aims to address the company’s asbestos-related liabilities.
History: The trust’s foundation reflects ASARCO’s commitment to addressing the repercussions of asbestos exposure on affected individuals.
Claims Process: Victims of ASARCO’s asbestos exposure are eligible to file claims, subject to specific eligibility criteria outlined by the trust.
Compensation: Compensation amounts are carefully determined based on the severity of injuries and other relevant factors, ensuring fair remuneration for victims’ suffering.
Transparency: Detailed guidelines and procedures governing the claims process are readily accessible, ensuring transparency and accountability in operations.
Administration: Trust Management Solutions oversees all aspects of claim submissions, reviews, and distributions, ensuring efficiency and fairness.
Mission: The ASARCO Asbestos Personal Injury Settlement Trust remains steadfast in its dedication to safeguarding victims’ rights and ensuring their long-term financial stability.
TO GET HELP – Our Nationwide Toll-Free Mesothelioma Helpline Number is 888.640.0914
Asbestos Trust Fund
After ASARCO filed for bankruptcy in 2005, it made a reorganization plan. The company created the ASARCO Asbestos Personal Injury Settlement Trust, funded initially with $830 million in 2009. Each case is evaluated on various factors including, age, exposure, and illness. Currently, the payment percentage for successful cases is 35%.
U.S Asbestos Bankruptcy Trusts Funds have paid out nearly 21 billion to more than 600,000 asbestos claimants. There are about 60 active Asbestos Trust Funds with an estimated $32 billion in remaining assets.
Asbestos Settlement Trusts were established to help compensate workers and their families for asbestos exposure causing Mesothelioma and other asbestos-related diseases. When an Asbestos company establishes a Trust Fund all settlements are managed by trustees that decide the compensation amounts paid to Mesothelioma claimants. U. S. Courts allow Asbestos defendants to file for protection under a legal process known as bankruptcy reorganization. This allows the company to pay claims and stay in business.
Asbestos Trust Fund settlements typically do not come with an admission of guilt by the asbestos company that set up the trust.
Asbestos Litigation
Beginning in the early 1980s CAPCO began receiving asbestos-related lawsuits, and in the late 1990s, ASARCO began seeing lawsuits from their use of asbestos. Both companies received thousands of lawsuits leading ASARCO to file for bankruptcy in 2005. After filing for bankruptcy, they still received asbestos-related lawsuits, and in 2008 they received 95,000.
Occupational Exposure
Since exposure to asbestos was highly prevalent in ASARCO, many individuals, including workers and the general public, were put at risk. Since the company expanded quite quickly, there were multiple plants 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:
Mining Locations
ASARCO owned various mines across the United States of America containing lead, copper, and zinc. Including:
- Mining copper in Utah, Garfield
- Mining lead & copper in Tacoma, Washington
- Mining lead in Mexico and San Francisco California
- Mining zinc in Chile and Amarillo, Texas
Asbestos Products and the ASARCO Asbestos Personal Injury Settlement Trust
ASARCO worked with raw materials from 1952 to the early 1990s, and they were so heavily involved that they increased the world’s supply of asbestos by 7%.
The products they produced containing asbestos were:
- Capco Permaft ex Uaterpipe
- Capco Pipe Asbestos Cement Pipe
- Asbestos insulation materials
- Asbestos-containing cement products
- Asbestos-laden pipes and pipe insulation
- Asbestos-containing roofing materials
- Asbestos-containing automotive components
- Asbestos-containing gaskets and seals
- Asbestos-containing friction materials (e.g., brake pads)
- Asbestos-containing electrical insulation
- Asbestos-containing construction materials (e.g., drywall joint compound)
- Asbestos-containing textile products (e.g., fire-resistant fabrics)
History of Asbestos Use
ASARCO, or the American Smelting and Refining Company, emerged in 1899 through a partnership between Leonard Lewisohn, Adolph Lewisohn, John D. Rockefeller, and Henry H. Rogers. Despite a promising start, the company encountered financial turmoil during a prolonged employee strike in the early years. To recover, ASARCO merged with M. Guggenheim’s Sons, expanding its operations into mining and refining by the late 1920s, eventually becoming the world’s largest nonferrous metals refinery.
In a bid to address financial challenges, ASARCO shifted focus to mining, leading to its foray into the asbestos industry in 1952. Establishing a massive open-pit asbestos mine in Canada, the company became a major player in asbestos production, with annual yields reaching 100,000 pounds. Asbestos, prized for its heat-resistant properties, found extensive use in various products like cement and roofing, despite its associated health risks.
ASARCO’s involvement in asbestos deepened with the acquisition of CAPCO (Cement Asbestos Products Company) in 1974, a prominent manufacturer of asbestos-containing products since the 1960s. Over nearly four decades, ASARCO’s operations exposed workers to airborne asbestos fibers, leading to diseases like mesothelioma and asbestosis. Facing mounting lawsuits from affected individuals, ASARCO filed for Chapter 11 Bankruptcy in 1999, signaling the end of its asbestos-related ventures and the onset of legal battles over compensation for victims.
FIND OUT IF YOU QUALIFY TODAY! – Call Our Nationwide Toll-Free Mesothelioma Helpline – 888.640.0914
How Do Mesothelioma Trust Funds Work?
Asbestos exposure victim’s 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.
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.
24 Hour Call Back Guarantee!
Fill out our free Mesothelioma case evaluation form and an experienced Mesothelioma lawyer will call you to immediately start processing your claim at no cost to you.
Call Today! 888.640.0914 – Chat Available 24/7 – 365 Days a Year!
ASARCO Asbestos Personal Injury Settlement Trust and Mesothelioma Claims