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A Philadelphia Mesothelioma Lawyer at Shein Law Will Help You Seek Compensation for Your Asbestos Disease

What if the Company Responsible for My Asbestos Disease Has Gone Out of Business?

Asbestos, a known carcinogen, was once widely used for its ability to strengthen and fireproof various materials, such as concrete, bricks, fireplace cement, pipes, and insulation. Rates of mesothelioma are high in military veterans, particularly in the U.S. Navy, which used asbestos extensively as a fire-preventative material in ships, submarines, and shipyards. Other industries that exposed employees to asbestos with high rates of mesothelioma include but are not limited to:

  • Auto mechanics
  • Construction workers
  • Plumbers, pipefitters, and steamfitters
  • Insulation workers
  • Painters and drywall workers
  • Electricians
  • Foundry workers
  • Industrial workers
  • Maintenance workers
  • Power plant workers
  • Railroad workers
  • Refinery and steel workers
  • Shipyard workers
  • Longshore and dock workers
  • Utility workers
  • Tire workers
  • Factory workers
  • Warehousers

Determining liability for asbestos exposure is complicated and often involves multiple responsible companies. For a case to succeed, you must establish each party’s liability for exposing you to asbestos, whether or not the party continues to operate. There are a few different reasons why a company may no longer be active, such as the following:

  • Company filed bankruptcy: Companies with insufficient funds to compensate the number of victims often declare bankruptcy. However, this does not completely absolve them from responsibility. You may still be eligible for compensation through an asbestos trust fund.
  • Another acquired company: When companies are acquired by or merge with another company, the successor company may be liable for injuries caused by the one they acquired if successor liability exists. Successor companies are not automatically liable.
  • Company no longer exists: It can be challenging to file a lawsuit against a dissolved company, particularly if its assets have been sold. In other cases, you may be able to file a suit for a limited time following the company’s dissolution.

There are many ways that companies no longer doing business may still be responsible for compensating you for your asbestos disease. You will need the services of an experienced mesothelioma lawyer who can explore the viability of filing a lawsuit and recovering compensation.

What Are Asbestos Trust Funds?

Asbestos trust funds are created to compensate victims of asbestos-related diseases from companies that have declared bankruptcy. Trust funds ensure that bankrupt companies continue compensating those exposed to asbestos.

Asbestos trust funds have strict regulations and criteria victims must meet for eligibility, which include a valid medical diagnosis of asbestos disease, such as mesothelioma and lung cancer, and evidence of exposure. An estimated $30 billion is available in asbestos trust funds to compensate victims.

A Philadelphia Mesothelioma Lawyer at Shein Law Will Help You Seek Compensation for Your Asbestos Disease

If you or a loved one has been diagnosed with an asbestos disease such as mesothelioma or lung cancer, an experienced Philadelphia mesothelioma lawyer at Shein Law will help. Even if the company responsible for your diagnosis is bankrupt, you can still pursue compensation. We can help you explore your legal options. Call 877-743-4652 or contact us online to schedule a consultation. Located in Philadelphia and Pennsauken, New Jersey, we serve clients throughout Pennsylvania and New Jersey.

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