Asbestos Trusts For Mesothelioma Victims

Most recently, the U.S. House of Representatives passed a bill related to the hundreds 0f asbestos trusts for mesothelioma victims.  In particular the asbestos trusts for mesothelioma victims bill is designed to make the asbestos trust for mesothelioma victims more transparent.  The bill is called “Furthering Asbestos Claim Transparency (FACT) Act of 2013“, and does the following:

  1. Amends federal bankruptcy law concerning a trust formed under a reorganization plan following the discharge in bankruptcy of a debtor corporation in order to assume the debtor’s liability with respect to claims seeking recovery for personal injury, wrongful death, or property damage allegedly caused by the presence of, or exposure to, asbestos or asbestos-containing products
  2. Requires such a trust to file with the bankruptcy court quarterly reports, available on the public docket, which describe each demand the trust has received from a claimant and the basis for any payment made to that claimant (excluding any confidential medical record or the claimant’s full Social Security number).
  3. Requires such reports, upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by it, to provide any information related to payment from, and demands for payment from, the trust to any party to any action in law or equity concerning liability for asbestos exposure.

The bill – H.R. 982 – “addresses these issues by requiring greater transparency for asbestos trusts, preserving funds for valid claimants.  The measure ensures that claimants harmed by asbestos exposure —including veterans, who have been disproportionately affected—will have access to compensation for their injuries.”  Furthermore, the bill is designed sponsors believe “Disclosure of this information will increase transparency within the asbestos trust system by enabling the public and bankruptcy trust administrators to review the activities of each bankruptcy trust to ensure that duplicitous and conflicting claims are rightfully detected.”

mesothelioma, asbestos, mesothelioma cancerPeople who develop this rare form of cancer were most likely exposed to dangerous asbestos fibers while working in various industries to support their families. It is common for the development of mesothelioma to occur 20, 30, 40 or sometimes even 50 years after initial exposure to asbestos.

Asbestos fibers have been used in the manufacturing of a wide variety of industrial and household products in the United States and around the world.

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At the Gooch Law Firm, we pride ourselves on providing our clients reliable representation for even the most challenging cases. If you have been diagnosed with mesothelioma, contact our office at 1.844.329.5955.