The flashcards below were created by user
ED_6C3
on FreezingBlue Flashcards.
-
Current status of asbestos trusts
- 56 trusts have been set up on behalf of asbestos defendants and have declared bankruptcy
- payments from these trusts have risen rapidly
- as of 2008, largest trust paid $10.9B on 2.4M claims
- payments coming from trusts and from tort defendants are not explicitly coordinated
-
Interactions between trusts and tort cases
- information sharing: trusts must be disclosed, but isn’t usually required before trial
- setoffs: some states allow setoffs for all trusts payments that occur during the tort case
- indirect trust claims: in joint-and-several liability states, a defendant that pays a full tort judgment will typically be able to recover from a trust
- limitation on trust payments: some trusts prohibit direct payments to claimants
-
Differences in payments by solvent defendants
- joint-and-several: payments by solvent defendants will likely increase
- several-liability: payments by solvent defendants can increase or remain unchanged
|
|