Energy Future Holdings Claims, Asbestos Bankruptcy and Defendant Information.
EFH Asbestos Claims – After nearly four years, Energy Future Holdings Corp. (“EFH”) is poised to finally exit bankruptcy. EFH is a Dallas-based energy company that provides electric power generation, transmission, and distribution services in Texas.
According to its bankruptcy filing, EFH is the largest electric energy provider in Texas. It, along with 70 of its subsidiaries, filed for Chapter 11 protection under the United States Bankruptcy Code in the Bankruptcy Court for the District of Delaware on April 29, 2014, to restructure nearly $49 billion in debt.
All EFH site employees, contractors, and family members are at risk of having been exposed to asbestos. If you now have mesothelioma or any other asbestos-related disease diagnosis and you or a family member worked at any EFH site, you must file a claim. But even if you are healthy now, if an EFH site is part of your or a family member’s work history, you must file a claim now. Otherwise your future legal rights will be lost if you ever do get sick.
You or your attorney must file a claim with the EFH Claims Processing Center by 5 PM Eastern Standard Time on December 14, 2015, or you will forever lose all rights to make any EFH asbestos claims against this corporate giant and its insurance companies.
A qualified asbestos attorney can file the claim for you. He or she can help you with the documentation you will need to verify you or a family member worked at a site covered by the bankruptcy. Don’t try to do it yourself! If you already have an asbestos attorney, call him or her. Otherwise, call us!
At Kazan Law, we do not charge any fee for this service. You won’t have to pay us anything unless and until we get you money.
About Asbestos Bankruptcy Trust Funds
Asbestos litigation is a specialized field. Many law firms exclusively litigate mesothelioma and other asbestos-related disease cases. This is a complex arena where knowledge of case precedents and previous defendants are part of building a legitimate claim for plaintiffs. In fact, asbestos litigation is so large that American courts and legislators recognized the problem by developing specific laws and procedures to deal with the volume of plaintiffs and defendants.
There is no central repository for listing who’s sued who in asbestos cases. By best estimates, over 6,000 separate defendants have been litigated.
Some defendants were large and highly visible defendants like Johns-Manville, Owens-Corning, United States Gypsum and W.R. Grace. These asbestos-producing giants are still in business after setting aside nearly $15 billion in combined trust account funding.
Most of the 6,000 asbestos defendants went bankrupt and are gone from the map. They simply didn’t have the funds or assets to liquidate and settle suits or create trusts.
There are approximately 100 remaining defendants held responsible for negligently producing and supplying asbestos-containing materials (ACM). These companies survived because they used provisions of the United States Bankruptcy Code (USBC) to protect them.
U.S Bankruptcy Code Protection for Asbestos Defendants
The United States Bankruptcy Code isn’t light reading. Many attorneys specialize in bankruptcy cases and know this book inside out. Lawyers helped many asbestos-producing companies defend their lawsuits by using sections in the USBC that apply to financial protection and resolution.
These are the two main USBC sections that litigated asbestos defendants turned to:
- Chapter 7 Liquidation: This chapter applies to defendants without sufficient capital or hard assets to pay lawsuit plaintiffs and creditors. Once a defendant is found responsible for paying compensation but is insolvent, the court orders a special trustee to seize the company’s remaining cash and hard assets. These assets are liquidated and the proceeds disbursed to various plaintiffs. Normally, the company is forced out of business which is what happened to most of the 6,000 bankrupt asbestos defendants.
- Chapter 11 Protection: This USBC chapter is designed to limit legal actions against solvent companies and give them time to restructure while remaining in business. One of the Chapter 11 provisions is section 524(g) that allows for defendants to create independent trust funds to pay present and future plaintiffs who were harmed by their products or through their negligence. Trust funds have a complicated formula. They’re based on what funds are anticipated for the defendant’s long-term settlement amounts. Bankruptcy trust funds are administered by a third-party and remain detached from the defendant company. Once a trust is established, the defendant is protected from all future litigation regarding asbestos claims.
Lawyers who specialize in asbestos litigation are acutely aware of existing bankruptcy trust funds and how to accesses them for clients. There are over $30 billion currently held in American asbestos trusts. This money is available to mesothelioma and other asbestos-illness suffers, provided they meet certain eligibility requirements.
Bankrupt Defendant Trust Funds Eligibility
To access compensation money in bankrupt asbestos defendants’ trust funds, a claimant must prove they’re eligible. This burden rests with the individual plaintiff.
Because the asbestos law is so complicated and the available funds are so large, every person considering applying for trust fund compensation must retain a law firm that specializes in mesothelioma and other asbestos-disease cases.
A mesothelioma attorney assesses three criteria to see if a claimant is eligible for trust funding:
- Medical Proof: A claimant must have medical proof that they suffer from a disease caused by asbestos exposure. This is straightforward for mesothelioma patients as asbestos exposure is the sole known cause of this disease. Proof is supported by a recognized medical diagnosis and is supported by physical evidence like biopsy pathology, X-rays and medical testing records.
- Exposure Proof: Trust fund claimants have to show they were exposed to certain ingredients which may have had asbestos-containing materials (ACM) in products at specific sites. This can be a difficult hurdle as mesothelioma has an extremely long latency period. It often doesn’t present symptoms for decades after a claimant had asbestos exposure. Memories fade and records disappear. Experienced mesothelioma attorneys have vast information on what company work sites and products were contributors to the asbestos disease epidemic.
- Negligence Proof: Claimants must also show the defendant was negligent in some way. This is generally demonstrated by an overall pattern where other facts prove a company knew how dangerous their products were. Some well-known defendants failed to warn product users and conspired to hide this information in favor of profits. A law firm specializing in mesothelioma practice knows who these defendants are. Tying a claimant’s history, work location and occupation to a defendant’s responsibility is what these attorneys excel at.
Once an attorney has reasonable grounds to represent a plaintiff, they make a formal application to the defendant’s trust fund and present their case. Negotiating a settlement is another area that a specialized mesothelioma law firm handles.
How much compensation a plaintiff is awarded depending on the trust fund structure and the severity of the claimant’s case. Most asbestos bankruptcy trust funds have a pre-existing value schedule which they use to classify a claim. Generally, trust funds pay a percentage of scheduled values.
List of Active Trust Fund Companies
Not every trust fund that was established remains active. Some trusts exhausted their funds and are now insolvent. They’ve been closed and deregistered. As well, some trusts are proposed but not yet defined by Chapter 11 restructuring. These are the top remaining an active asbestos bankruptcy trust funds.
The names of companies with over $1 billion in assets appear in bold.
- A-Best Products — A-Best Asbestos Settlement Trust
- A.P. Green Industries — APG Asbestos Trust
- A.B.B. Global Inc. — Lummus 524(g) Asbestos Personal Injury Trust
- A&I Corporation — A&I Corporation Asbestos Bodily Injury Trust
- A, C & S Inc. — A, C & S Asbestos Settlement Trust
- API, Inc. — API, Inc. Asbestos Settlement Trust
- Armstrong World Industries — AWI Inc. Asbestos Personal Injury Settlement Trust
- ARTRA Group — ARTRA 524(g) Asbestos Trust
- Asarco, Inc. — ASARCO LLC Asbestos Personal Injury Settlement Trust
- Asbestos Claims Management Corp./National Gypsum Company — NGC Bodily Injury Trust
- Babcock & Wilcox Company — Babcock & Wilcox Asbestos Trust
- Bondex — Bondex Trust
- Burns & Roe Enterprises Inc. — Burns& Roe Asbestos Personal Injury Settlement
- C.E. Thurston & Sons — C.E. Thurston & Sons, Inc. Asbestos Trust
- Celotex Corporation/Carey Canada, Inc. — Celotex Asbestos Settlement Trust
- Combustion Engineering — Combustion Engineering 524(g) Asbestos Personal Injury Trust
- Congoleum Corporation — Congoleum Plan Trust
- Dresser Industries — DII Industries LLC Asbestos Personal Injury Trust
- Eagle Pitcher Corporation — Eagle Pitcher Industries Persona Injury Settlement Trust
- EJ Bartels Co, Inc. — Bartels Asbestos Settlement Trust
- Federal Mogul Corp. — Federal Mogul U.S. Asbestos Personal Injury
- Fedodo — Federal-Mogul Asbestos Personal Injury Trust – Fedodo Subfund
- Flexitallic — Federal-Mogul Asbestos Personal Injury – Flexitallic Subfund
- Flintkote Co./Flintkote Mines Ltd. — Flintkote Company and Flintkote Mines Limited Asbestos Personal Injury Trust
- General Motors — MLC Asbestos Personal Injury Trust
- Global Industrial Technologies (Harbison-Walker) — DII Industries LLC Asbestos Personal Injury Trust
- G-1 Holdings — G-1 Asbestos Settlement Trust
- Hercules Chemical — Hercules Chemical Company Inc. Asbestos Settlement Trust
- H.K. Porter Co. Ltd. — H.K. Porter Asbestos Trust
- J.T. Thorpe (C.D. Cal) — J.T. Thorpe Settlement Trust
- J.T. Thorpe (S.D. Tex.) — J.T. Thorpe Company Successor Trust
- Johns-Manville Corp./Philadelphia Asbestos Corp. (Pacor) — Manville Personal Injury Settlement Trust
- Kaiser Aluminum Corp. — Kaiser Asbestos Personal Injury Trust
- Keene Corp. — Keene Creditors Trust
- Kentile — Metex Asbestos Personal Injury Trust
- Leslie Controls — Leslie Controls, Inc. Asbestos Personal Injury Trust
- MacArthur Co./Western Asbestos Company — Western Asbestos Settlement Trust
- National Gypsum — NGC Bodily Injury Trust
- North American Refractories Co. (NARCO) — North American Refractories Company Asbestos Personal Injury Settlement Trust
- Owens Corning — Owens Corning Fiberboard Asbestos Personal Injury
- Pittsburgh Corning — Pittsburgh Corning Corporation Asbestos Personal Injury Trust
- Plant Insulation Company — Plant Insulation Company Asbestos Settlement Trust
- Pilbrico Co. — Pilbrico Asbestos Trust
- Porter-Hayden Co.— Porter-Hayden Bodily Injury Trust
- Quigley Co. — Quigley Co. Inc. Asbestos Personal Injury Trust
- Raymark Corp. Raytech Corp. — Raytech Corporation Asbestos Personal Injury Settlement Trust
- Shook & Fletcher Insulation Co. — Shook & Fletcher Asbestos Settlement Trust
- Stone & Webster Engineering — Stone & Webster Asbestos Trust
- T.H. Agriculture & Nutrition — T.H. Agriculture & Nutrition LLC. Asbestos Personal Injury Trust
- Thorpe Insulation Co./Pacific Insulation Co. — Thorpe Insulation Company Asbestos Personal Injury Settlement Trust
- Turner & Newall — Federal-Mogul Asbestos Personal Injury Trust – Turner & Newall Subfund
- United States Gypsum Co./USG Corp. — United States Gypsum Asbestos Personal Injury Settlement Trust
- United States Mineral Products — US Mineral Products Company Asbestos Personal Injury Settlement Trust
- UNR Industries/UNARCO Industries Inc. — UN Asbestos-Disease Personal Injury Trust
- W.R. Grace & Co. — WRG Asbestos Personal Injury Trust
- Yarway — Yarway Asbestos Personal Injury Trust
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