A firm that is representing a number of asbestos personal injury creditors in the United States has asked the courts to throw out around seven and a half thousand settlements from Dana Corp to asbestos creditors unless the corporation is prepared to provide additional details in the agreements, according to a recent report.
The settlements are part of Dana Corp’s bankruptcy, and papers were filed with the US Bankruptcy Court in Manhattan earlier in the week. Dana, which is an auto parts supplier, reached a deal to pay the seven and a half thousand asbestos creditors settlements totalling two million dollars.
The committee stated: “The ad hoc committee and other parties in interest are entitled to full disclosure of all of the terms of the proposed settlements by reviewing the actual settlement agreements and should not be limited to relying on Dana’s description of some of the terms of the settlements.”
The company sought Chapter 11 bankruptcy protection back in 2006, and is trying to move out of this protection plan through reorganization plans that may enable unsecured creditors to receive between seventy two and eighty six percent on their claims.
3 users commented in " Committee Asks For Asbestos Settlements To Be Thrown Out "
Follow-up comment rss or Leave a TrackbackThe public service of these class action suits are
a means for predatory lawyers to get a lot of money. lawyers in legislatures writing laws that
allow such predations which are decided by lawyer judges in sympathy with their fellow travelers. One wonders on which side of the law negligence
in such matters really falls? The real victims usually end up with no real justice and the lawyers end up with the real money.
I think it is a shame that people who die from lung cancer coming from unknown exposure to asbestos are thought to be liars.
My husband died from lung cancer for that very reason and companies got away with filing for bankruptcy and only paying a small portion of the claim or nothing at all
I should never have had to worry about money the rest of my life. Because they got away with this tactic, I am the one suffering with no money for heating oil and bills i can’t pay.
So, don’t ask me to feel sorry for the big companies. They are not suffering. It is the people, they cheated who are suffering. My husband died of lung cancer. He worked in the by product of the steel mill where he was a millwright. He came into daily contact with asbestos;but he did not know it was dangerous.He is dead now from the lung cancer and believe me, he suffered a great deal. I have 0 sympathy for the big companies.
Thank you
I am a widow also. My husband died 20yrs.ago. He worked as a boilermaker,and he also worked in unsafe conditions, each and every job he had. He was diagnosed with asbestosis and stomach cancer, and he was only 35yrs.old. We had 2 small boys, and we thought we had a good life ahead of us. And I as well as our children shouldn’t have to worry about anything the rest of our lives. But no one stepped in to help our lights, house pymts, heating bills, and whatever else it takes to live and send 2 boys through school. I still have an asbestos lawyer, but he said they were still in bankruptcy, and it has been a darn shame for a single mother of 2 boys, to have to go through what shouldn’t have been to start with. First of all, the children lost their daddy, and his security to always provide the proper way of living, we were used to having mama and daddy around, and that was what we had planned on for the rest of our lives. We just didn’t know his life would be cut short because of his work, that he was trying to support his family with. My husband worked all the time. He was always working when he could and work out of state also. My husband was a good daddy and husband, and a good provider for us. And it is a shame that his work is what killed him. I believe these companies should still have to pay us and our children for our pain and suffering. Thank You
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