Is the company responsible for your mesothelioma bankrupt or insolvent

Is the company responsible for your mesothelioma bankrupt or insolvent?  It doesn't matter; it's STILL not too late to seek recovery.  Oftentimes companies who are responsible for causing mesothelioma or similar asbestos related diseases have become insolvent or bankrupt.  Naturally, those injured by one such company may feel that they have no recourse, no way to get justice against those responsible for causing this harm, and no way to be compensated for this injustice.  Much to their surprise they find out that the opposite is often true.

Two main reason for these bankruptcies are 1) meso symptoms can take up to 40 years to develop so a company may simply no longer be in business after so many years and 2) a company that used asbestos, knew of the risks, and didn't inform their employees, likely has become bankrupt after a series of previous lawsuits.  Generally, bankruptcy refers to a legal status of a person or an organization that cannot repay the debts owed to creditors.  As you will see below, the process fortunately works a little bit differently in situations like this.

So how does one receive compensation from a company with no money?  In many cases, as part of the company's bankruptcy proceedings, trusts were established to pay for future damages from lawsuits.  In other words, there is a pool of money set aside for lawsuits that will certainly be coming down the pike.  This is good news.  It ensures that the victims and/or the victim's families have a way to get compensated against the company that caused their illness.  The amount paid out from this trust will be largely determinant upon the nature of the disease and the company who created the trust.

It is important to understand that bankruptcy does not mean broke!  Filing for bankruptcy does not release the company of their financial responsibly for asbestos exposure claims.  Never assume that your opportunity has passed you by.  Find out if you are eligible for potentially millions of dollars.  There is no risk to find out.  You may contact us for free and our mesothelioma lawyers will help you fully understand your options.