Campbell & Levine serves as general counsel to a number of so-called “524(g) asbestos settlement trusts” established in the context of court-approved bankruptcy plans of reorganization for major U.S. corporations. These trusts are established for the purpose of assuming liability for and paying the holders of both present and former claims arising out of bodily injury or death caused by exposure to asbestos. These trusts have been funded with billions of dollars, and the firm provides legal advice to the Trustees that manage the trust, who are charged with the responsibility for managing the investment of the funds, the processing of claims, and the distribution of trust assets to the beneficiaries, all in accordance with the various and particular documents that govern the trust.
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