Over 30 Billion dollars in trust fund money has been set aside for asbestos victims.
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Courts have ordered that manufacturers that used asbestos in products must offer compensation to individuals who have developed mesothelioma as a result of exposure to the substance. As a result, companies have set up trust funds to help victims recover their losses.
These trust funds were set up to provide that money without causing the company to go bankrupt. Money is placed into these funds as companies set aside capital specifically for those seeking compensation. Courts did not order that companies set up funds of a certain amount, so various companies have different sized trust funds based on their abilities to pay and their amount of accountability.
The first trust fund established to compensate asbestos patients is known as the Manville Trust. The Johns-Manville Corporation, a leading manufacturer of asbestos, established the trust in 1988 to compensate employees who had developed mesothelioma while working for the insulation and roofing material manufacturer. To cope with the thousands of mesothelioma-related employee claims, the bulk of the company's money was placed into this fund, which is still in operation.
Since then, many other manufacturers of asbestos products have set up trust funds to compensate those who have developed asbestos-related diseases. These funds total approximately $30 billion. To obtain part of this amount, someone diagnosed with mesothelioma may want to consider hiring a law firm that has experience in handling asbestos fund filings.
Would you like information on how to apply for the $30 billion in available trust fund monies? If so, please fill out our form, and we will have a trained patient advocate speak to you about your options. We will also be happy to send you an informational packet outlining trust funds as well as informing you about other legal options available to you.
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