Asbestos victims, their families and attorneys are claiming a Koch Industries-owned company and its lawyers are using a controversial bankruptcy maneuver to avoid paying millions in compensation to its former employees.
The case has come as the Koch brothers’ political network has pushed for legislation to protect companies facing asbestos-related claims and limit payouts for victims.
The billionaire Charles Koch and his late brother David have funded and supported legislative efforts to make it more difficult for asbestos victims and their families to collect compensation.
Clay Thompson, an attorney with MRHFM, the largest law firm in the US devoted to mesothelioma cases, said that Georgia-Pacific was defending and resolving asbestos claims without any financial distress or need for bankruptcy protections before initiating the Texas two-wtep maneuver.
Either the victims will cave and take pennies on the dollar in a bogus fraudulent billionaire bankruptcy attempt, or they just delay and that’s what’s largely happened.”
He said none of the asbestos victims will receive anything until a final plan is confirmed and all appeals are exhausted as attorneys have sought to fight the Texas-Two step maneuver.
The original article contains 1,108 words, the summary contains 184 words. Saved 83%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Asbestos victims, their families and attorneys are claiming a Koch Industries-owned company and its lawyers are using a controversial bankruptcy maneuver to avoid paying millions in compensation to its former employees.
The case has come as the Koch brothers’ political network has pushed for legislation to protect companies facing asbestos-related claims and limit payouts for victims.
The billionaire Charles Koch and his late brother David have funded and supported legislative efforts to make it more difficult for asbestos victims and their families to collect compensation.
Clay Thompson, an attorney with MRHFM, the largest law firm in the US devoted to mesothelioma cases, said that Georgia-Pacific was defending and resolving asbestos claims without any financial distress or need for bankruptcy protections before initiating the Texas two-wtep maneuver.
Either the victims will cave and take pennies on the dollar in a bogus fraudulent billionaire bankruptcy attempt, or they just delay and that’s what’s largely happened.”
He said none of the asbestos victims will receive anything until a final plan is confirmed and all appeals are exhausted as attorneys have sought to fight the Texas-Two step maneuver.
The original article contains 1,108 words, the summary contains 184 words. Saved 83%. I’m a bot and I’m open source!