Asbestos Bankruptcy Trust for ACandS, Inc.
ACandS, Inc.ACandS Asbestos Settlement Trust
Filed 2002
An asbestos bankruptcy trust was filed for in 2002 for ACandS, Inc., under the name ACandS Asbestos Settlement Trust. Asbestos bankruptcy trusts are typically set up so that people who become victims of asbestos exposure can potentially obtain financial compensation for any illness incurred as a result of such exposure, including mesothelioma.
Exposure to asbestos can lead to a number of serious illnesses. One of the most devastating diseases is mesothelioma, a malignant form of cancer. The survival rate for mesothelioma is extremely low because symptoms do not begin to appear until 30 to 40 years after inhalation of asbestos fibers has occurred. By the point of diagnosis, the cancer has reached the later and nearly incurable stages.
As people became aware of the dangers of asbestos and mesothelioma diagnoses became more prevalent, people began hiring asbestos lawyers and suing the companies responsible for their illnesses. As the number of these lawsuits increased, it became necessary for the manufacturers and distributors of asbestos products to file for bankruptcy and reorganize their debts in a way that would allow them to pay off their liabilities. Part of this process involved setting up trusts to settle the claims.
ACandS Inc. has been an insulation contracting company since it began operations in January 1958. Its primary activity is the installation of thermal and mechanical insulation. It was discovered that between 1958 and 1974, some of the products installed by the company contained asbestos (acsbankruptcy.com).
After the harmful effects of the asbestos began to appear in people who had come into contact with these products, more than 250,000 asbestos-related claims were brought against ACandS. These claims resulted in over $1 billion in damages. In 2002, the company filed for Chapter 11. As a direct result of the Chapter 11 reorganization, the ACandS Settlement Trust was created.
For more information on this Asbestos Bankruptcy Trust, visit the Trust web site at http://www.acandsasbestostrust.com/ or call 609-466-0427Contact the asbestos lawyers at Clapper, Patti Schweizer & Mason for more information on the bankruptcy trust for ACandS, Inc., or if you have any other questions regarding mesothelioma.