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Volver al Blog de AsbestosCorporate bankruptcies, including asbestos bankruptcies, have a complicated background. For many years, courts have consistently held that bankruptcy is a shield and not a sword. But clever corporate lawyers have found back doors and loopholes that allow large, rich companies to do just that. More on these things below.
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Si cree que estuvo expuesto al asbesto, incluso cuando era niño, hable con un proveedor de atención médica sobre pruebas y exámenes para ayudar a diagnosticar cicatrices pulmonares y detectar enfermedades relacionadas con enfermedades relacionadas con el asbesto.
Fortunately for victims, our asbestos exposure lawyers also know the law, and we know how to make it work for people. Asbestos companies that knowingly put people at risk for decades can use all the procedural tricks they want. But in the end, they must accept responsibility for their prior misconduct. Part of this responsibility includes paying compensation for economic losses, such as medical bills, and noneconomic losses, such as pain and suffering.
¿Califica usted para una compensación?
Descubra rápida y fácilmente cómo estuvo expuesto buscando en WARD, la base de datos de asbesto más grande del planeta.
BÚSQUEDA GRATUITA >A Brief Bankruptcy Primer
Many people believe that a real-life bankruptcy is like a Monopoly bankruptcy. Before we go further, we should dispel this common myth.
When Monopoly players declare bankruptcy, they lose all their fake money, all their plastic hotels, and everything else they own. Furthermore, these players must leave the game and can’t possibly get back in it.
To stay with this analogy, a real-life bankruptcy is like going to the “jail” square on the Monopoly board. Bankruptcy is bad, but it’s temporary. Furthermore, the Bankruptcy Code protects most personal and corporate assets. The different types of bankruptcy, named for their locations in the Bankruptcy Code, are:
- Chapter 7: “Liquidation” isn’t a very good name for this kind of bankruptcy, because as mentioned, most people keep most of their assets. Chapter 7 discharges most unsecured debts, like medical bills.
- Chapter 13: The “wage-earner plan” is basically a payment plan bankruptcy. Distressed debtors have between three and five years to catch up on past due bills. During this protected repayment period, the Automatic Stay remains in effect.
- Chapter 11: Corporations large and small use Chapter 11 to reorganize and renegotiate unfavorable contracts. Chapter 11 also gives companies a chance to play fast and lose with negligence and other personal injury laws.
Many asbestosis, mesothelioma, and other such victims who don’t partner with an asbestos exposure lawyer end up in bankruptcy court. Medical treatment in these cases could cost over $120,000 a year. High medical bills prompt about two-thirds of personal bankruptcy filings.
Las personas que trabajaron en estas industrias antes de mediados de la década de 1980 tienen un mayor riesgo de desarrollar enfermedades relacionadas con el asbesto:
| Construcción | Fábricas | Fundiciones | Refinerías | Astilleros | Minería / Molienda |
| Demolición | Aislamiento | Trabajadores del acero | Instalación de tuberías | Construcción naval | Mecánicos |
 |  |  | |||
| Techumbre | Textiles | Trabajadores del hierro | Calderas | Extinción de incendios | Reparación de frenos |
| Piso | Cemento | Electricistas | Reparación de juntas | Ferrocarril | Climatización |
Desafortunadamente también lo hacen sus familias.
How Asbestos Bankruptcies Shuts Families Out
The aforementioned sword/shield analysis usually refers to AUtomatic Stay violations. Some people file bankruptcy solely to frustrate creditors. They have no intention of finishing the bankruptcy. Corporate bankruptcy abuse is a little different.
The Texas Two-Step
In 1989, Texas lawmakers approved a measure that allowed a large corporation to split into two or more smaller corporations. Proponents said the measure, which gave businesses flexibility, would attract companies to the Lone Star State.
Corporate lawyers quickly found a way to twist the new law. Corporation A could divide itself into Corporations B and C. Then, Corporation C took on all unfavorable aspects, such as liability lawsuits, of the old business.
Pharmaceutical giant Johnson & Johnson recently tried this strategy. The company created LTL Management, LLC out of thin air. LTL, which became responsible for all talc/asbestos lawsuits, almost immediately filed Chapter 11 bankruptcy. A federal judge smelled a rat and delayed the process, which is still ongoing at this time.
“Por lo general, quienes desarrollan enfermedades relacionadas con el asbesto no muestran signos de enfermedad durante mucho tiempo después de la exposición”.Fuente: Instituto Nacional del Cáncer (NIH)1 |
Out With the Old, In With the New
To illustrate this corporate sleight of hand, we must go a little further back in time, to 2009. Thousands of victims sued GM over defective ignition switches. According to court documents, the automaker could’ve fixed this defect, which killed over a hundred people and injured hundreds more, for about $1 per vehicle.
Coincidentally, GM was in bankruptcy court at the time. During Chapter 11 proceedings, the company changed its name to Motors Liquidation Company (the “old” GM). General Motors Company LLC (the “new” GM) came out on the other side.
The new GM argued that it wasn’t liable for defective ignition switch injuries, because the old GM sold those vehicles. Eventually, the new GM compromised with defective ignition switch victims. The new GM paid compensatory damages, but not punitive damages.
Los riesgos para la salud de la exposición al asbesto pueden incluir:
| Mesotelioma | Cáncer de pulmón |
| Cáncer de laringe | Cáncer de ovarios |
| Cáncer de estómago | Cáncer de colón |
| Cáncer de faringe | La Asbestosis |
| Enfermedad Pulmonar Obstructiva Crónica (EPOC) | Atelectasia |
| Derrame pleural | Pericardial effusion |
Chapter 11 Walk-Aways
In the asbestos world, these issues came to a head in the 1980s. As mesothelioma and other health and safety lawsuits mounted, many asbestos manufacturers saw bankruptcy as an easy way out. They hoped to file bankruptcy and leave the growing controversy with their fortunes intact.
Eventually, federal judges oversaw another compromise that allowed corporate leaders to keep some of their money and also protected asbestos exposure victims.
¿Califica usted para una compensación?
Descubra rápida y fácilmente cómo estuvo expuesto buscando en WARD, la base de datos de asbesto más grande del planeta.
BÚSQUEDA GRATUITA >How Asbestos Bankruptcies Benefit Families
Between 1980 and 2010, about 100 asbestos manufacturers used a Chapter 11 walk-away, but not before they contributed to a $30 billion victim compensation fund. The expedited claims process may take as little as three months. Additionally, an asbestos exposure lawyer must only make a bare-bones case to obtain compensation. There’s no lawyer on the other side. Finally, VCF claims are usually less expensive than court claims.
Más de $ 30 mil millones todavía están disponibles (sin demandas. Sin tarifas a menos que reciba dinero. Sin riesgos). Haga su reclamo.  |
Primary (work-related) and secondary (environmental) exposure victims are eligible for VCF compensation.
Now for the downside. The average VCF mesothelioma payout is about $400,000. If an asbestos exposure lawyer files a court case, and the victim wins that case, the damages could easily be ten times as high. Additionally, fund administrators are notoriously stingy negotiators. A looming trial date doesn’t motivate fund administrators to settle. Additionally, a judge does not supervise these negotiations. Therefore, fund administrators usually make low-ball and “take it or leave it” offers.
Here’s the bottom line. If a VCF claim is an option, we usually encourage victims to pursue these claims. Compensation is lower, but a bird in the hand is worth two in the bush. Furthermore, after they receive devastating medical news, most families are anxious to quickly move on. A VCF claim creates that possibility. Learn more by speaking with an abogado de asbesto.
AsbestosClaims.Law
En AsbestosClaims.Law, nuestra misión de asegurar una compensación para las víctimas del asbesto es más que profesional;es personal.
Nuestro fundador, Justinian C. Lane, conoce de primera mano los efectos devastadores del asbesto.
Tanto sus abuelos como su padre, todos trabajadores del asbesto, fallecieron de cánceres inducidos por el asbesto sin darse cuenta de su elegibilidad para juicios por asbesto u otras formas de compensación.
Nuestro objetivo es evitar tales trágicos descuidos informando y guiando a las víctimas y sus familias a través de sus opciones legales.
Si usted o sus seres queridos han sufrido como resultado de la exposición al asbesto, podría ser elegible para una compensación considerable. Estos fondos podrían cubrir tratamientos médicos, servicios de remoción de asbestos y salvaguardar su salud.
Además, los fideicomisos de asbesto ofrecen una compensación sin necesidad de un juicio, brindando un camino más rápido y sencillo hacia la justicia.
Comuníquese con nosotros en [email protected] o (206) 455-9190 para obtener ayuda con su reclamo. Ofrecemos escucha compasiva, explicaciones claras y no cobramos un centavo a menos que ganemos su caso.
Más allá de las demandas legales, también asesoramos sobre discapacidad de veteranos, seguridad social y protección laboral como compensación de trabajadores, FELA, y La ley de Jones para trabajadores marítimos.
No hay riesgo ni costo para conectarse con nuestro equipo experimentado sobre sus derechos. Nuestro compromiso con su bienestar significa que no cobramos honorarios a menos que reciba una compensación.
| Para más consultas o inquietudes sobre el asbesto, explore nuestro sitio web y página de YouTube, con infografías, videos y respuestas a preguntas comunes sobre temas relacionados con el asbesto. |
También presentamos WARD, la base de datos de investigación mundial sobre el asbesto. Es el recurso más completo de información relacionada con el asbesto.
WARD ayuda a identificar posibles escenarios de exposición, productos que contienen asbesto y puede indicar los tipos y posibles montos de compensación que puede tener derecho a recibir.
No te demores — ponerse en contacto Con nosotras hoy!
1 Instituto Nacional del Cáncer (NIH) Hoja informativa sobre asbesto.
