Yarway Asbestos Trust Fund: Claim Types, Payments and Legal Options

Explore the foundation and workings of the Yarway Asbestos Personal Injury Trust. Delve into its origins, understand its procedures for claim submissions, and discover the mechanism for claim resolution.

Table of Contents
Introduction
Trust Purpose and Functions
Claim Submission and Resolution
Current Payment by Claim Types
Asbestos Products
Legal Options & Free Legal Consultation

Introduction to Yarway Asbestos Trust

Established in 2015 following the confirmation of Yarway Corporation's Chapter 11 Joint Plan of Reorganization, the Yarway Asbestos Personal Injury Trust aims to facilitate and handle asbestos-related personal injury claims in line with its Trust Distribution Procedures.

Yarway Asbestos Trust Purpose and Functions

The primary objective of the Yarway Asbestos Personal Injury Trust is to ensure the efficient processing and disbursement of genuine asbestos personal injury claims. Born out of the Yarway Corporation's reorganization strategy, this Trust operates as per set guidelines and principles outlined in the Trust Distribution Procedures. Its creation ensures that victims of asbestos-related injuries are provided an avenue to seek compensation.

Yarway Asbestos Trust Claim Submission and Resolution

Potential claimants can submit their claims to the Trust post-December 21, 2015. To streamline the process, the Trust has laid out specific protocols which encompass submission methods like electronic filing and the necessary documentation like the claim form. Between December 21, 2015, and June 20, 2016, any claims submitted are deemed to have been filed on the Initial Claim Filing Date, which is June 20, 2016.

Such claims undergo processing in the sequence determined by Section 5.1(a)(1) of the Trust Distribution Procedures. Pertinent resources, including submission guidelines, forms, and other relevant information, are readily accessible on the Trust's official website Resources page.

Yarway Asbestos Trust Current Payment by Claim Type

Current payment amounts for each type of claim:

Mesothelioma Claims:

Expedited Review: $55,000
Individual Review: $150,000
Ratio*: 25.0%

Lung Cancer Claims:

Expedited Review: $17,500
Individual Review: $40,000
Ratio*: 25.0%

* 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.

Yarway Asbestos Products

Adjustable Spray Head
Air Control Valves
Automatic Boiler Skimmer
Cylinder Guided Expansion Joints
Double-Tightening Valves
Gun-Pakt Expansion Joints
Hydraulic Valves
Pipe-Joint Clamps (Simplex)
Process Steam Traps
Seatless (Simplex) Blow-off Valves
Series 40 Steam Traps
Starting and Pressure Unloader
Tandem Blow-off Valves
Wrought Steel Expansion Joints

Asbestos Law Firms 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.