Federal-Mogul Corp. is asking the judge presiding over its bankruptcy case to approve its reorganization plan, which would resolve as much as $9.41 billion in claims for victims of mesothelioma and other asbestos-related diseases. The asbestos victims’ trust fund would be granted 50.1 percent of the company’s stock and the right to pursue insurance payments. Federal-Mogul and 156 affiliate companies filed for bankruptcy in 2001.
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Since 1977, the law firm of Baron & Budd, P.C. has championed the rights of people and communities harmed by corporate misconduct. With over 50 attorneys and offices in Texas, California, and Louisiana, Baron & Budd enjoys a national reputation as a leader of the plaintiffs’ bar. The firm represents individuals with mesothelioma and other diseases caused by asbestos and injuries caused by other toxic substances and pharmaceuticals. The firm also represents water authorities seeking clean-up costs for drinking water contamination; securities investors and governmental entities defrauded by corporate wrongdoing; and consumers. For more information about Baron & Budd, call 800-222-2766 or contact us via our secure form.