Asbestos bankruptcy trusts operate independently of each other, with claims paid to victims who may also be eligible to receive trust benefits from other bankruptcy trusts set up to help people exposed to asbestos from companies that sought and received protection from U.S. Bankruptcy laws. Because these trusts operate independently, lawyers for companies that actually made and sold the asbestos products that made thousands of people ill now claim, those trust are vulnerable to fraud. Under the guise of worry about the people those companies already hurt, those company lawyers claim alleged fraud reduce the funds that remain in reserves to compensate the next generation of asbestos or mesothelioma victims. But the reality is far different in many cases and no widespread fraud or untoward conduct has been found. It’s a myth perpetuated by companies and lawyers trying to escape responsibility for products with asbestos they made and sold for decades that hurt a lot of people.
More ironic is that these same companies and their lawyers thrown around the need for “transparency” when those same companies have concealed, covered up, and his the truth for decades to avoid responsibility for their actions and to keep the ill-gotten profits. This precise lack of transparency between trusts was the issue that was directly addressed by several courts and which forces persons hurt by asbestos to turn over private information that they have submitted to trusts lawyers representing asbestos manufacturers who are defendants in asbestos litigation to use to their own benefit and for propaganda purposes. Those same companies launch and army of lawyers to fight tooth and nail to avoid transparency or revealing that they knew and understood asbestos deadly properties for humans before including it as an ingredient and using it in the products. It is ironic that companies that have been built lying, cheating, and robbing people’s good health now demand “transparency”.
The results of these tactics for plaintiffs remain uncertain. Plaintiffs have been hurt even more than the initial physical injuries as they suffer a reduced expectation of privacy and a more protracted process for discovery and final resolution of their claims and lawsuits.
For more information about asbestos bankruptcy trusts, contact an experienced attorney. Knowledgeable mesothelioma and asbestosis lawyers can assist you with filing a claim valid against manufacturers and product sellers that have a share of the responsibility for causing your injuries. You deserve fair compensation for medical expenses, the cost of ongoing care, the loss of current and future income and other damages suffered as a result of asbestos exposure not to mention the devastation to your life that such an serious and unexpected medical diagnosis can bring.
- See more at: http://www.farriselawblog.com/blog/asbestos-bankruptcy-trust-fraud-is-it-real-or-made-up-by-companies-trying-to-escape-responsibility-for-hurting-people/#sthash.XO5LWS3d.dpuf