This article discusses a study of claims of asbestos disease submitted by plaintiffs’ firms to the Manville Trust, which was created and funded with $2 billion following the 1982 bankruptcy of Johns-Manville. The Trust pays out set amounts to those who file injury claims alleging exposure to its products. Among many disturbing findings, the study found one doctor who had diagnosed a staggering 30,467 claimants with low-level asbestos disease in a six-year period. According to my calculations, that works out to an average of about 21 positive diagnoses each day for six years! Sound fishy to you?
A settlement by Sealed Air Corp. on Friday is raising hopes (noted by the financial markets) that the end of the asbestos litigation nightmare may finally be coming into view, according to this article. UPDATE (12/18/02): Halliburton has also settled all its asbestos claims, for some $4 billion, according to this.