Mesothelioma trust funds were during the 1970s, after an abundance of mesothelioma cases started to surface across the nation. Officials began looking for ways to impede the process of so many lawsuits. As a result, the concept of mesothelioma trust funds was created. Asbestos trust funds ensure that all qualified victims of asbestos-related injuries are compensated without the hassle of going to trial and filling up the courts with an excessive amount of time and lawsuits.
If you or a loved have an asbestos-related disease, you may be eligible for a large amount of compensation. Currently, there is over $30 billion in asbestos trust funds, set up for those who have been diagnosed with an asbestos-related illness. We invite you to use the Asbestos Attorney Locator Tool to find a top mesothelioma lawyer in your area.
History of Mesothelioma Trust Funds
In 1971, the Johns-Manville Sales Corporation was sued for product liability by the widow of Louisiana man who developed cancer from one of the company’s products. Federal court upheld the lawsuit, and the plaintiff won. Shortly after, courts across the nation were flooded with asbestos-related lawsuits.
Subsequently, many of the companies and manufacturers that were sued began to file for bankruptcy. However, as a condition for filing, these companies were required to set up trust funds that would compensate victims of asbestos-related illnesses. In the 1980s, John-Mansville set up the first trust fund, followed by several other companies.
Mesothelioma Trust Funds Today
There are currently a plethora of businesses that have trust funds set up. As previously mentioned, an estimated $30 billion has already been set aside for victims, and as more people continue to develop mesothelioma, the amount is expected to grow.
If you or a loved have an asbestos-related disease, you may be eligible for a large amount of compensation. Currently, there is over $30 billion in asbestos trust funds, set up for those who have been diagnosed with an asbestos-related illness. We invite you to use the Asbestos Attorney Locator Tool to find a top mesothelioma lawyer in your area.
History of Mesothelioma Trust Funds
In 1971, the Johns-Manville Sales Corporation was sued for product liability by the widow of Louisiana man who developed cancer from one of the company’s products. Federal court upheld the lawsuit, and the plaintiff won. Shortly after, courts across the nation were flooded with asbestos-related lawsuits.
Subsequently, many of the companies and manufacturers that were sued began to file for bankruptcy. However, as a condition for filing, these companies were required to set up trust funds that would compensate victims of asbestos-related illnesses. In the 1980s, John-Mansville set up the first trust fund, followed by several other companies.
Mesothelioma Trust Funds Today
There are currently a plethora of businesses that have trust funds set up. As previously mentioned, an estimated $30 billion has already been set aside for victims, and as more people continue to develop mesothelioma, the amount is expected to grow.
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