Mesothelioma Attorneys Announce Proposed $19.5 Million Settlement for Libby Asbestos Victims
Asbestos victims sickened by exposure from W.R. Grace & Co.'s former vermiculite plant near Libby, Montana have long-awaited good news. The Washington Post is reporting a proposed bankruptcy deal that would put $19.5 million into a trust for people who lived and worked near the contaminated Montana mine. The significance of this settlement cannot be overlooked. The money will be used to offset the escalating costs of medical treatment for thousands of people who are suffering from mesothelioma, absestosis, and other asbestos-related diseases. The agreement also ensures that the company will continue to fund a critical medical program for the Libby victims even after bankruptcy proceedings have finalized.
The news comes more than a decade after a lawsuit was first filed against Montana state officials who failed to warn workers and their families of the significant asbestos exposure risk. The Libby mine and mill produced more than 1500 tons of asbestos-containing materials that were sold and distributed worldwide, eventually shutting down in 1990 after reports of hundreds of deaths and thousands of serious asbestos-related injuries. In an effort to escape liability, W.R. Grace & Co. filed for bankruptcy in 2001, putting all lawsuits on hold until a reorganization plan was approved and a bankruptcy trust was created for the asbestos victims.
On January 30, 2012, the U.S. District Court for the District of Delaware finally approved the asbestos-related bankruptcy plan that will allow claimants to be compensated. Property owners, mine workers, and secondhand parties who can prove that their diseases are the result of asbestos exposure are eligible to be paid from the trust, which is funded by sources such as cash, insurance proceeds and stock. Although the plan is subject to appeal, once the final settlement plan is approved, all objections to the plan will be withdrawn as a matter of law. Additionally, the bankruptcy agreement calls for the continuation of a medical plan that has been voluntarily operated and funded by the company since 2001. Asbestos victims may also be able to collect from a separate Asbestos Personal Injury Trust fund.


Two new studies are contributing to the ongoing debate over cellular phone use and a possible brain cancer link. One group of researchers declared cell phones a cancer-causing agent, presenting the same public health risk as engine exhaust and asbestos. Another group found no convincing evidence of a cancer connection. 


