Dubious Distribution: Asbestos Bankruptcy Trust Assets and Compensation
By Marc Scarcella and Peter Kelso for the U.S. Chamber Institute for Legal Reform
Dubious Distribution: Asbestos Bankruptcy Trust Assets and Compensation, shows that of $40 billion contributed to asbestos trusts between 2004 and 2016, $25 billion remain. In fact, of the 35 asbestos trusts operating as of early 2008, 21 of them are currently paying an average of only 60 percent of what they paid that year. The report also points out that most trusts have no contingency fee caps, and allow plaintiffs’ attorneys to collect 40 percent or more of claims paid out.
This research delves into the details of asbestos trust expenses and claim payment. The paper concludes that the depletion of trust assets will result in the systematic under-compensation of legitimate asbestos victims in the future if left unabated.
To request a complimentary copy of this paper, written by Roux’s Marc Scarcella and Peter Kelso of our Economic & Complex Analytics Practice, please click below:
Roux’s Economic & Complex Analytics (ECA) team is nationally recognized for its expertise in helping clients evaluate the legal, scientific, and financial risks associated with environmental, mass tort, and product liability litigation. Our ECA experts have analyzed a diverse set of environmental and product liability risks, including asbestos, benzene, talc, perfluorooctanoic acid (PFOA), polychlorinated biphenyls (PCBs), diacetyl, silica, isocyanate, pharmaceutical and medical devices, and many others. Overall, our analysts work to reduce risks for our clients through better forecasting and predictive modeling. Read more here
The New York office hosted our seventh annual fundraiser for the American Cancer Society (ACS) this year; we selected this charity because the battle against cancer is ongoing for many of our friends, family, colleagues, and loved ones of all ages.
The American Cancer Society was founded in 1913 and has since been removing barriers to quality health care by providing transportation to treatment and other cancer-related appointments, access to lodging for patients seeking treatment away from home, and cancer education and screenings—overall averting 2.1 million cancer deaths since 1991.
This year’s event was the most successful one to date! More than 120 people attended and took part in our raffles. Because of the overwhelming generosity of our employees, friends, and family, we raised over $16,000. All proceeds from this record year will go directly to the American Cancer Society.
Thank you to all who participated and donated to this cause for making this year’s event a groundbreaking success for our firm and our CSR team. To donate to the cause, visit the ACS website at the link above.
Sunday, May 20 – Wednesday, May 23 Join us at the world’s largest global gathering of retail real estate professionals! ICSC RECon is an annual real estate convention with nearly 40,000 attendees gathering for power deal making, networking, and education—allowing real estate professionals to conduct a year’s worth of business in just three days.
Roux will be located at booth number 1318 in the North Hall at the Las Vegas Convention Center. We look forward to seeing you! Learn more
Monday, May 14 Join Roux at the New York League of Conservation Voters‘ (NYLCV) 2018 Spring Gala at Pier Sixty at Chelsea Piers. Each year, the Spring Gala brings together a group of business leaders, elected officials, and environmental partners to celebrate and support the work of NYLCV and the New York League of Conservation Voters Education Fund (NYCLVEF). This year’s keynote speaker is Governor Andrew M. Cuomo.
To read more and register, please click here.
As environmental consultants, it is our goal to provide the highest quality environmental services to our clients. In order to provide the best service, it is paramount to ensure the continuing health and safety of our employees and subcontractors. The health and safety success of our team assures the success of our projects. At Roux Associates, we are dedicated to promoting a positive safety culture in the field, within our offices, and throughout our personal lives.
In our quarterly newsletter below, some of our Roux staff members highlight safety tips and protocols on the following subjects:
- PPE: What to Consider
- The Flu
- Noise Exposures
- Walking on Slippery Surfaces
Monday, April 30 – Tuesday, May 1 Roux will be exhibiting at the Chemistry Council of New Jersey (CCNJ) 34th Annual Spring Conference. The Spring Conference is a major New Jersey industry event that provides attendees, exhibitors, and sponsors the opportunity to interact with executives from leading companies and promote products and services. More than 200 professionals engaged in the business of chemistry will learn about the latest developments affecting their business, get updates on legislative and regulatory issues, participate in seminars, and interact with elected officials. Click here to learn more.