Following passage of Ohio's new "asbestos transparency" law late last year, another state is now mulling the same.
Our mesothelioma attorneys
understand House Bill 529 in the Mississippi House of Representatives
would require asbestos plaintiffs to disclose all involvement with
asbestos trusts.
Specifically, the measure would mandate asbestos trust claimants to
submit a sworn statement disclosing all asbestos trust claims made
either by him or on his behalf. Additionally, the claimant would have to
turn over all information related to that claim at least a month before
the discovery phase of the case gets underway. In instances where such
claims were made after the suit was filed, the claimant would have a
month to let the defense know of that as well.
If the asbestos defendants find any issues (as they most certainly
are apt to do), they would have 2.5 months before the beginning of a
mesothelioma trial to request a stay in the case, provided they can show
credible evidence.
What's more, if a person files a claim to access funds in an asbestos
trust after he or she has obtained a court judgment, the court can
later decide to re-open that case in order to adjust the judgment
amount.
If its passed, it would apply to all asbestos-related claims filed
after the 1st of July of this year, and also to any pending cases for
which the trial hasn't yet started.
The reason all of this is so troubling is that many times in
mesothelioma cases, there are multiple defendants, with each likely to
have contributed to the fatal illness incurred by the plaintiff. These
individuals have two ways of seeking relief: Either by filing a lawsuit
or by making a claim to an asbestos trust. In cases where there are
multiple causes of exposure, these two remedies may not be mutually
exclusive. But legal reform like this is not, as backers suggest, a way
to provide "transparency." Rather, it is one more way in which
defendants can deny culpability or the extent of their liability. All it
does is make the process more complicated and time-consuming for
plaintiffs - who already are on borrowed time, as mesothelioma, once
diagnosed, is aggressive and rapid in its progression.
Asbestos trusts were founded as a way for mesothelioma sufferers to
obtain relief from companies that had filed for bankruptcy protection.
The courts determined that these firms should not be allowed to simply
walk away from the obligation to provide compensation to those harmed.
The U.S. Government Accountability Office estimates that as of 2011,
there were roughly 100 companies that had declared bankruptcy at least
in some part due to asbestos liability claims. The overall number of
asbestos defendants is estimated to be about 8,500, according to RAND
Corporation researchers.
Contrary to the characterization provided by asbestos defendants,
these trusts are not being bled dry. Current trusts are estimated to
control nearly $40 billion in assets, and those figures continue to
rise.
These actions are likely to prompt other states to do the same,
meaning it is all the more critical for mesothelioma sufferers and their
loved ones to carefully choose a law firm with a successful history of
mesothelioma litigation on behalf of victims and their families.
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