PEDIATRICS Vol. 88 No. 3 September 1991, pp. A44
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THE LAWYERS DID FINE

J. F. L. MD

According to court papers, the [Manville Trust] has set aside $30 million in liability insurance for its executives and $76.4 million for its lawyers. It plans $27.5 million for operating expenses. Total projected expenses through most of next year are $133.9 million, leaving $93.2 million to pay $112.8 million in settled claims (it is running a deficit of $19.6 million).

This does not signify that the sick or families of the deceased will see all $93.2 million. Plaintiffs' lawyers are collecting between a third and 40 percent of the amounts victims get from the trust, though in most cases they do little more than submit clients' medical and work records to the trust. Using an average of 36.5 percent to calculate lawyer fee, the plaintiffs' lawyers can expect to receive an additional $34 million...

The Manville Trust was meant to compensate tens of thousands of workers dying or diseased from exposure to asbestos. But the two-year-old trust is already out of cash... Many victims will have to wait until 2015 to get any payments.


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