Asbestos

Over the past 40 years, asbestos-related litigation has forced over 100 companies into bankruptcy — devastating workers, retirees, and entire communities. Some project the total cost of asbestos claims at more than $260 billion. Plaintiffs’ attorneys efforts to target companies that had little to do with the manufacture or supply of asbestos-containing products contributes to this astounding figure.  Read More...

An avalanche of asbestos claims has led to the creation of numerous bankruptcy trust funds, which were intended to allow businesses to restructure while providing compensation to affected individuals. Unfortunately, each trust operates completely independently and opaquely, hiding information from other trusts and defendant companies. This lack of transparency fosters an environment ripe for waste, fraud, and abuse, and the unsurprising result has been a significant decline in resources for victims.

Recently, four U.S. senators introduced the PROTECT Asbestos Victims Act, a bill that aims to protect future asbestos victims by implementing necessary reforms to the bankruptcy trust system. Plaintiffs’ lawyers often double-dip by making multiple, inconsistent claims against companies and trusts on behalf of their clients. The PROTECT Act would strengthen the U.S. Department of Justice’s (DOJ) ability to investigate double-dipping and other misconduct of asbestos claims while shining much-needed light on the operations of asbestos trusts.

Genuine reforms will protect job-creating businesses from abusive lawsuits and ensure that legitimate victims receive the compensation they deserve.

01/01/2019

Suggested Resources

Research
  • Dubious Distribution: Asbestos Bankruptcy Trust Assets and Compensation

    Dubious Distribution: Asbestos Bankruptcy Trust Assets and Compensation

    March 08, 2018

    The asbestos bankruptcy trusts, created with the goal of sustainably processing and paying valid asbestos personal injury claims, are quickly being depleted. ILR's research finds that of the 35 asbestos trusts operating as of early 2008, 21 are paying an average of 40 percent less today than in 2008, putting future compensation for asbestos victims in doubt. The paper documents the causes of this rapid depletion, including the highly significant impact of attorney contingency fees. Read More

  • On the Edge: New York County Asbestos Litigation at a Tipping Point

    On the Edge: New York County Asbestos Litigation at a Tipping Point

    August 03, 2017

    This report examines the history and current state of the New York County Asbestos Litigation (NYCAL) unit of New York City's state trial court. The analysis concludes that the procedural features that have driven verdicts and settlements higher than those in other jurisdictions are likely to continue under the Revised Case Management Order, absent fresh judicial interpretation and methods of implementation that correct current problems. Read More

All Results for Asbestos

  1. In the News Today - July 23, 2018

    July 23, 2018 | News

    Pennsylvania Bill Would Return Asbestos Injury Claims to the State's Workers' Compensation System; 20 Years of ILR Accomplishments: Lending a Helping Hand to a Local Business... Read More

  2. In the News Today - July 17, 2018

    July 17, 2018 | News

    Defense Attorney Says SCOTUS Decision on Personal Jurisdiction in Class Actions is "Inevitable;" Illinois Appellate Judge Reverses Lower Court Decision on Personal Jurisdiction in Asbestos Case... Read More

  3. In the News Today - July 11, 2018

    July 11, 2018 | News

    Bestwall Lawyers Push Back on Asbestos Plaintiffs' Lawyers Attempt to Hire Four New Firms; New Report Finds Cost of Securities Litigation Has Skyrocketed in Recent Years... Read More

  4. In the News Today - June 6, 2018

    June 06, 2018 | News

    Showtime's "Billions" Outlines Lucrative Work of Running an Asbestos Bankruptcy Trusts; Man Loses TCPA Lawsuit after Filing 83 of Them... Read More

  5. ILR Research Review - Spring 2018

    May 31, 2018 | Research

    The Spring 2018 ILR Research Review explores a wide range of long-standing and emerging issues in legislation, regulation, and litigation, including artificial intelligence and other emerging technologies, state qui tam False Claims Acts, West Virginia legal reforms, and asbestos bankruptcy trusts.... Read More

  6. Arizona Supreme Court Says Employers Aren't Liable for "Take-Home" Asbestos Exposure

    May 14, 2018 | News

    : A five-justice majority of the Arizona Supreme Court ruled that employers cannot be held liable for "take-home" asbestos exposure, the Associated Press reports.... Read More

  7. In the News Today - May 8, 2018

    May 08, 2018 | News

    Fight Over N.Y. Asbestos Court's New Punitive Damages Rules To Undergo Major Test... Read More

  8. In the News Today - May 1, 2018

    May 01, 2018 | News

    Sheldon Silver "Blinded by Greed," Prosecutor Says as Retrial Opens; Attorney Dispute Over Asbestos Lawsuit Fees to Continue ... Read More

  9. In the News Today - April 20, 2018

    April 20, 2018 | News

    Self-Driving Cars, Thinking Machines Will Test Limits Of Tort Law; Texas Panel Told To Revive Asbestos Depo 'Coaching' Row... Read More

  10. In the News Today - April 4, 2018

    April 04, 2018 | News

    Cleaning Up The Asbestos Litigation Mess: A Role For The Department Of Justice?; "Follow-On" Securities Lawsuits Face Formidable Obstacles... Read More