ABB Lummus Global Asbestos Trust Fund: Claim Types, Payments and Legal Options
Dive into the origins and purpose of the ABB Lummus Asbestos Trust, established in 2006, designed specifically for the efficient processing and compensation of valid asbestos injury claims. Here's an in-depth exploration of its functionality, claim procedures, and how to reach out directly.
Introduction to ABB Lummus Global Asbestos Trust
The ABB Lummus Asbestos Trust, formed in 2006, emerged as an outcome of ABB Lummus Global Inc.'s Chapter 11 Reorganization Plan. Designed to address and streamline asbestos injury claims, this Trust has been instrumental in ensuring justice and compensation for affected parties.
ABB Lummus Global Asbestos Trust Purpose and Functions
Originating from the confirmation of ABB Lummus Global Inc.'s reorganization, the Trust's primary purpose is to process, validate, and ultimately compensate valid personal injury claims related to asbestos exposure. The creation of the Trust is a testament to ABB Lummus Global Inc.'s commitment to addressing the issues arising from asbestos-related damages, ensuring that all valid claims are adequately addressed systematically and efficiently.
ABB Lummus Global Asbestos Trust Claim Submission and Resolution
To maintain transparency and clarity in its operations, the Trust follows a set of distribution procedures, often referred to as the "TDP" (Trust Distribution Procedures). Under the guidelines of the TDP, the Trust has set forth clear policies that guide individuals in submitting their claims for asbestos-related injuries. Part of this procedure involves submitting a specific claim form, which stands as proof of one's claim, ensuring a fair and structured evaluation process.
ABB Lummus Global Asbestos Trust Current Payment by Claim Type
Current payment amounts for each type of claim:
Mesothelioma Claims:
- Expedited Review: $25,000
- Individual Review: $400,000
- Ratio*: 9.5%
Lung Cancer Claims:
- Expedited Review: $7,500
- Individual Review: $75,000
- Ratio*: 9.5%
* The trust funds ensure a fixed percentage of compensation known as a "ratio", which reserves funds for potential future victims based on the claim's worth.
ABB Lummus Global Asbestos Products
- AC cables
- Electrical systems
- Feedwater heaters
- Gas-insulated switchgears
- Gaskets
- Generators
- High-capacity transformers
- Steam turbines
- Valves
- Wiring insulation
ABB Lummus Global Trust Fund Asbestos Exposure Calculator
National average for mesothelioma lawsuit settlements typically range from $1.1 million to $1.5 million while lung cancer settlements may range between $150,000 and $350,000. Use Asbestos Compensation Calculator for a personalized compensation estimate.
ABB Lummus Global Trust Fund Mesothelioma & Lung Cancer Compensation Calculator
Get a comprehensive mesothelioma or lung cancer compensation estimate after asbestos exposure form products related to ABB Lummus Global Asbestos Trust Fund. Follow a few quick steps to receive your personalized result in seconds.
Asbestos & Mesothelioma Law Firm Near You
National law firms, with their experience in handling cases and trust fund claims across the country, can be a smart choice. Opting for a nationwide firm means you'll have a team of lawyers who know the ins and outs of asbestos cases in every state. They'll figure out the best place to file your claim and make sure it's done within the legal deadlines, all to get you the maximum possible compensation.
Peiffer Wolf Carr Kane Conway & Wise is Helping Asbestos Victims for Over 25 Years
Experienced mesothelioma attorneys offer compassionate support and fight tirelessly for justice.
$500 Million Recovered for Clients
(855) 305-3205
