Jaime Doherty and Matt Fergus recently contributed to a report on asbestos trusts and their relationship to the current U.S. Tort system. A new study presented questions concerning the way settlement amounts are being determined, the costs shouldered by some defendants, and the availability of funds to settle future asbestos-related claims.
GRB consulted and advised on the current state and practical application of the law in Pennsylvania specifically concerning: 1) The Tort system in Pennsylvania; 2) Asbestos litigation in Pennsylvania; and 3) The interaction of asbestos litigation and asbestos bankruptcy trusts and practical and legal implications of that interaction.
“Asbestos Bankruptcy Trusts and Tort Litigation,” prepared by the RAND Institute for Civil Justice, studies the relationship between trusts and torts in six states: California, Illinois, New York, Pennsylvania, Texas and West Virginia.
The report examines the compensation system related to asbestos exposure over the past 30 years. According to an article on Law.com, “It is estimated that 730,000 people filed asbestos-related lawsuits between the early 1970s and 2002, drawing $49 billion in paid-compensation.”