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Asbestos litigation is the longest, most expensive mass tort in U.S. history, involving more than 8,000 defendants and 700,000 claimants. [1] By the early 1990s, "more than half of the 25 largest asbestos manufacturers in the US, including Amatex, Carey-Canada, Celotex, Eagle-Picher, Forty-Eight Insulations, Manville Corporation, National Gypsum, Standard Insulation, Unarco, and UNR Industries ...
Such a release prevents all litigants from recovering for their harms from the parent company. [1] Third-party releases are controversial in their own right, but are explicitly allowed in asbestos-related bankruptcies, and have been used successfully in non-asbestos cases. [1] [5]
The chrysotile asbestos previously used in Garlock's gaskets is roughly 1/100 to 1/2000 as carcinogenic as the friable amphibole asbestos used in the insulating tape just mentioned. Over a thirty-five year period Garlock was sued hundreds of thousands of times and forced to pay about $1.3 billion in judgements, settlements, and defense costs.
(Reuters) -A state judge in Oregon has overturned a jury's $260 million verdict against Johnson & Johnson in a lawsuit brought by a woman who said she got mesothelioma, a deadly cancer linked to ...
A health clinic in a Montana town plagued by deadly asbestos contamination must pay the government almost $6 million in penalties and damages after it submitted hundreds of false asbestos claims ...
This would be an estimated 2,000 cases totalling costs of A$500 million in damages from CSR. [21] In the 1980s CSR was pursued by victims of asbestosis caused by the operation of its Midalco subsidiary in Western Australia. By 1988, 258 damage-related suits had been taken against CSR, though only a handful of cases had been heard in the courts.
In a trial, the jury decides whether any or all defendants are liable and the value of the case. In the trust system, the bankruptcy courts use actuarial models to determine the trust's share of responsibility based on disease and occupation. Trusts pay only ten to thirty cents on the dollar of these predetermined shares.
The payouts range from $150,000 to $450,000 — with an additional $100,000 offered if the exposure resulted in a death.