[net-gold] [Workers' Compensation] The Fatal Consequences of the GM Bankruptcy
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
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- Date: Sun, 5 Sep 2010 13:14:39 -0400 (EDT)
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Date: Sun, 5 Sep 2010 07:26:32 -0700 (PDT)
From: Jon L. Gelman <jon@xxxxxxxxxxx>
Reply-To: Net-Gold@xxxxxxxxxxxxxxx
To: net-gold@xxxxxxxxxxxxxxx
Subject: [Net-Gold] [Workers' Compensation] The Fatal Consequences of the GM
Bankruptcy
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[Workers' Compensation]
The Fatal Consequences of the GM Bankruptcy
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The General Motors (GM) bankruptcy
is going to adversely impact
workers' compensation. It has been
estimated that GM is facing $500
Million worth of future mesothelioma
claims that its bankruptcy estate
is going to avoid paying. The claims
will arise because deadly asbestos
fiber that was used in in the
manufacture of GM products including
brakes.
Last month U.S. Bankruptcy Judge
Robert Gerber in New York permitted
the unsecured creditors (asbestos
claimants) to obtain documentation
from GM about the number of estimated /
asbestos liability claims it
could be facing in the future.
As a result of the bankruptcy action,
GM transfered its assets only to Motors
Liquidation Co., but it plans not
to transfer its asbestos liabilities
to the new company. Therefore, future
asbestos claims against GM will not be
paid.
Brakes linings were raw asbestos.
GM brakes were sold to and used by
auto-mechanics for decades. Asbestos
is a known carcinogen and its deadly
effects have been recognized since the
early 20th century. One of the latent
diseases caused by asbestos exposure is
mesothelioma, a rare and fatal illness.
Workers' Compensation systems
throughout the United States have been
literally swamped with asbestos
related claims as the workforce aged
and the disease has manifested.
The workers' compensation insurance
carriers and past employers who used
asbestos products have sought to
be reimbursed for benefits paid to
injured workers by the ultimate
wrongdoers, the suppliers, manufacturers
and distributors of asbestos
products. Those wrongdoers failed to
place warning of its products
concerning the hazards of asbestos
fiber and knew of the hazards.
Taking away the right of ill employees
to seek benenfits from GM for
its alleged wrongful acts will
severely impact the workers'
compensation system throughout
the US, especially if this process of
avoidance becomes of model for
future asbestos bankruptcy actions.
Difficulties navigating the workers
compensation systems at present for
occupational illness benefits have
become burdensome and extremely
difficult for injured workers and
their families. GM's attempt to
absolve itself from financial
responsibility for asbestos related
disease should not be permitted as
it may create a final economic
attack on the ailing compensation
system.
For over 3 decades the Law Offices
of Jon L. Gelman 1.973.696.7900
jon@xxxxxxxxxxx have been representing
injured workers and their
families who have suffered asbestos
related disease.
Related articles GM's Estate
May Face Billions in Asbestos Claims
(businessweek.com) The Asbestos
Debate is Over Who is Exposed to
Asbestos-Who is At Risk? History
of Asbestos and the Law
--
Posted By Jon L. Gelman to Workers'
Compensation at 9/05/2010 10:26:00 AM
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Other related posts:
- » [net-gold] [Workers' Compensation] The Fatal Consequences of the GM Bankruptcy - David P. Dillard
