Asbestos Victim Fund Could Reach $3 Billion

Breaking News

Asbestos Victim Fund Could Reach $3 Billion

May 16th, 2008

For victims suffering from asbestos-related diseases resulting from exposure by W.R. Grace, there may be an end in sight. The company has agreed to pay billions of dollars as a settlement in order to emerge from bankruptcy.

People that have been suing W.R. Grace for compensation over their exposure to asbestos may have some relief coming their way. Grace has agreed to deposit $1.8 billion in a trust to handle all current and future asbestos-related claims against them. The settlement would also include the right for victims to purchase Grace stock at a bargain price, making the total package estimate around $3 billion. Victims of asbestos exposure that are suffering from mesothelioma, asbestosis and other diseases will have compensation allocated from this fund. The settlement, if approved, will allow the company to begin to emerge from bankruptcy.

Grace owned mines in Montana that exposed thousands of people to airborne asbestos. Breathing in airborne asbestos particles has been linked to respiratory illnesses and cancer, like mesothelioma. Though asbestos can be a safe material, some forms of asbestos can break apart when it is disturbed. When the asbestos becomes airborne, it can be inhaled into the body, causing health problems.

Asbestos Closes Iowa School
June 5th, 2008
Air test results shut down an Iowa elementary school this week amid concerns of asbestos. With only three weeks left in the school year, the superintendent is looking for a place for the 145 students.
Read More >>

Natural Asbestos Causes Health Concern
June 4th, 2008
A park in California has had almost half its 75,000 acres shut to the public after high levels of naturally occurring asbestos was found. The asbestos is in the soil at the park, and can become airbor
Read More >>

Important Notice: Mesolink.org is a legal informational site sponsored by the Peterson Firm, LLC. The Peterson Firm's office is located at: 20 N. Orange Ave - Suite 400, Orlando, Florida 32801. The Peterson Firm is licensed by the Florida Bar Association to practice law within the state of Florida. If the Peterson Firm undertakes representation of a client outside the state of Florida, it will do so with assistance of local counsel from a law firm located in the state where the case is filed. If Peterson Firm undertakes representation in the state of Florida it will also do so with assistance of co counsel.

The content contained herein was not prepared by lawyers and should not be taken as a substitute for legal advice from a licensed attorney. Additionally, this information is not intended to create an attorney-client relationship simply by its viewing. The creation of an attorney-client relationship requires more than viewing this or affiliated websites. Neither the transmission nor receipt of this website material will create an attorney-client relationship between sender and receiver. The material contained herein is general in nature and may or may not be applicable to a viewer's individual legal needs. Online readers should not act on this information without seeking professional counsel. Please read our 'Terms & Conditions Of Use' for more information.

Additionally, the information contained on Mesolink.org, including but not limited to informational articles, other text/images, and on or off site links, has not been prepared, endorsed, or reviewed by any form of licensed medical professional, including but not limited to physicians, doctors, and so on. Nothing on the this website should be taken as medical advice, but instead should act as a useful resource in providing general information that may be useful to members of the general public. All visitors are encouraged to consult with a physician or other licensed medical professional for any form of medical advice. Please see our 'Terms & Conditions Of Use' for further information.