Download Free Bankruptcys Effect On Product Identification In Asbestos Personal Injury Cases Book in PDF and EPUB Free Download. You can read online Bankruptcys Effect On Product Identification In Asbestos Personal Injury Cases and write the review.

"One of the most significant developments in asbestos litigation in the past 15 years is the rising rate of bankruptcy among asbestos defendants. More than 100 companies have filed for bankruptcy at least in part because of asbestos lawsuits. As a result, contemporary asbestos ligation now involves both tort suits against solvent defendants and claims for compensation filed with the specially created asbestos bankruptcy trusts. The outcome of an asbestos lawsuit crucially depends on whether litigants in the tort case introduce evidence of exposure to the products of bankrupt parties. If some of these exposures are not identified, more fault can be assigned to the remaining solvent defendants. These defendants are thus likely to end up paying more when such evidence is not developed than when it is. Plaintiffs might also receive more in compensation from the courts and trusts combined if fault is not allocated to the bankrupt parties. This analysis provides empirical evidence that bankruptcy reduces the likelihood that interrogatories and depositions will identify exposure to the asbestos-containing products of the bankrupt parties. It also presents plaintiff and defense perspectives on whether the findings are a cause for concern and what, if anything, should be done in response."--Back cover.
This report describes the creation, organization, and operation of asbestos personal-injury trusts and compiles publicly available information on the assets, outlays, and governing boards of the 26 largest trusts. The authors find that the publicly available information provides a rich source of information on trust activity but that more detailed information is needed to determine their impact on important compensation outcomes.
Asbestos litigation is the longest-running mass tort litigation in U.S. history. Through 2002, approximately 730,000 individuals have brought claims against some 8,400 business entities, and defendants and insurers have spent a total of $70 billion on litigation. Building on previous RAND briefings, the authors report on what happened to those who have claimed injury from asbestos, what happened to the defendants in those cases, and how lawyers and judges have managed the cases.
Asbestos bankruptcy trusts play an important role in compensating asbestos injuries. This monograph examines how state tort laws address compensation paid by trusts and the evidence submitted in trust claim forms, how court proceedings take this evidence and compensation into account, and how the establishment of the trusts potentially affects compensation.
This selection of papers encompasses recent methodological advances in several important areas, such as multivariate failure time data and interval censored data, as well as innovative applications of the existing theory and methods. Using a rigorous account of statistical forecasting efforts that led to the successful resolution of the John-Manville asbestos litigation, the models in this volume can be adapted to forecast industry-wide asbestos liability. More generally, because the models are not overly dependent on the U.S. legal system and the role of asbestos, this volume will be of interest in other product liability cases, as well as similar forecasting situations for a range of insurable or compensational events. Throughout the text, the emphasis is on the iterative nature of model building and the uncertainty generated by lack of complete knowledge of the injury process. This uncertainty is balanced against the court's need for a definitive settlement, and how these opposing principles can be reconciled. A valuable reference for researchers and practitioners in the field of survival analysis.