Asbestos settlements part of ‘global’ deal

Quoted from http://www.dailyinterlake.com/news/local_montana/article_b01405d8-1b0e-11e2-b712-001a4bcf887a.html

 

Asbestos settlements part of ‘global’ deal

Victims to receive varying amounts of compensation

By LYNNETTE HINTZE/The Daily Inter Lake Daily Inter Lake

Lawyers for Libby asbestos victims are working toward settlements with W.R. Grace & Co., BNSF Railway Co. and certain insurance companies in what Grace has deemed a “global resolution.”

The settlements would give victims varying amounts of financial compensation for exposure to toxic asbestos dust linked to the former Grace vermiculite mine near Libby.

Since the extent of the disease and death caused by asbestos exposure came to light in late 1999, the Center for Asbestos Related Diseases clinic in Libby has acquired a caseload of more than 2,800 patients and has continued to add new patients.

Grace filed for Chapter 11 reorganization in 2001 in response to a growing number of asbestos claims. An Asbestos Personal Injury Committee was set up as part of the reorganization.

Compensation for victims has been a long time coming, and there’s no indication of when the settlements will be finalized.

[Article continues at original source]

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