Baltimore Celebrates $57 Million Settlement for Asbestos Victims
In a significant turn of events for many victims of mesothelioma and asbestos-related diseases, Baltimore recently brought some long-awaited news to the community. After a complex three-decade journey, more than 7,000 victims are set to benefit from a newly reached settlement of $57 million. This agreement results from a legal malpractice claim against the original law firm that handled their cases in the ’90s, a journey that has had its ups and downs.
A Trip Down Memory Lane
Let’s rewind the clock back to 1994. The Law Offices of Peter Angelos negotiated a settlement with the Baltimore-area asbestos installer, MCIC, Inc., which at the time offered varying compensation ranging from $1,000 to $9,500 per claim. The premise of this settlement was based on MCIC’s insurers paying out all available insurance to fund the claims of those impacted by asbestos exposure. Unfortunately, the reality turned out to be more complicated than expected.
Fast forward to 1998, and the legal team discovered that there was actually “substantial additional insurance” that could have been tapped into for the claims. However, despite this groundbreaking discovery, the firm did not act quickly; a motion was only filed in 2002. By that time, the courts decided that too much time had passed to enforce the initial settlement effectively.
The Road to Justice
As we entered the following decades, many of the mesothelioma victims, feeling left behind, sought new representation. A different law firm took on the mantle of responsibility and filed a suit against the Law Offices of Peter Angelos, accusing them of legal malpractice. After nearly twenty years of waiting, the work of this new legal team culminated in a monumental settlement last month, bringing hope to thousands.
The Settlement Details
What does this mean for the victims? Well, the $57 million settlement is not just a drop in a bucket; it’s a lifeline. Funds will be allocated according to the injury categories that were laid out in the original 1994 settlement. This financial relief is expected to change the lives of many who have battled the harsh realities of asbestos diseases.
Interestingly enough, much of the funds for this new settlement will be disbursed from the estate of Peter Angelos himself. Angelos, who died at the ripe age of 94 in March 2023, holds an esteemed legacy in the legal world, especially among those affected by asbestos exposure. He notably secured over $1 billion in damages from various asbestos companies during his illustrious career.
A Legacy of Support
The general counsel of the firm now overseeing the distribution of funds expressed excitement over the settlement, noting that “Peter’s legacy and the ongoing commitment of his family have ensured a resolution that serves to add further benefit for many historic clients of our firm.” It appears that while Peter Angelos may be gone, his impact continues to provide for those in need.
Looking Ahead
This newly reached settlement shines a light on the importance of perseverance and diligent advocacy for justice. As the wheels of justice turn, initial payments are expected to reach the victims early next year, allowing many to find some breathing room as they contend with their health challenges.
If you or someone you care about has been diagnosed with malignant mesothelioma, there are resources available. The Patient Advocates at Mesothelioma.net are ready to assist and provide guidance through this tough journey. Just give them a call at 1-800-692-8608 for more information.
It’s important to note that the information provided by Mesothelioma.net is not a substitute for any professional medical advice, diagnosis, or treatment.
A Long Way to Go
As Baltimore looks toward the future, the suffering endured by mesothelioma victims becomes more audible, and their voices are resonating with renewed strength. The long and winding road of seeking justice has yielded results, and perhaps this settlement marks a milestone on the path to recovery for many.
