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The U.S. Senate Judiciary Committee hopes to present a bill that would create a federal trust fund which could significantly reduce the amount of asbestos-litigation in the United States. The legislation would establish a trust fund into which asbestos and insurance companies would pay billions of dollars to compensate victims; thereby ending a majority of litigation related to compensating asbestos victims. However, the bill may allow victims to return to court if their claims are not paid, or not paid promptly.
Asbestos-related litigation has bankrupted over 60 companies and accounted for nearly 60,000 employment terminations nationwide, which has had a tremendous negative impact on the U.S. economy. Apart from the consequences of the financial damage caused by these lawsuits, the reality is that genuine asbestos victims are not being properly compensated. Nearly 60% of the asbestos-related awards have gone to plaintiff's lawyers and not to plaintiffs.
The Senate Judiciary Committee hopes to circulate a draft of the asbestos trust fund bill soon. Negotiations between the primary political parties are ongoing and the two sides appear to be bridging the divide between nearing a compromise. However, similar trust fund bills have not survived the Senate. Last year, two plans for trust funds were presented to the U.S. Senate, but neither one garnered enough support to escape the Senate floor.
It is generally known that people who live or work near asbestos related operations may inhale asbestos fibers that have been released into the air by work activities. However, the amount of asbestos an employee is exposed to will vary according to several factors, including: (1) the asbestos fiber concentration in the air; (2) duration of exposure; (3) worker's breathing rate; (4) weather conditions; and (5) whether protective equipment is worn.
Once inhaled, the small, inert asbestos fibers are known to penetrate the body's defenses. These fibers are deposited and retained in the airways and tissues of the lungs. In the alveoli which line the lungs and facilitate gas exchange, asbestos can cause the development of scar tissue. This thickening of the alveoli wall reduces the amount of oxygen available to the body. Because asbestos fibers remain in the body, each exposure increases the likelihood of developing one or more lung diseases.
Gordon & Rees has defended many different types of asbestos-related lawsuits throughout the Western United States, and has significant experience in extracting clients from prolonged litigation. If you would like additional information or assistance, please contact Gordon & Rees LLP.
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