MCIC Asbestos Plaintiffs' $57 Million Settlement

If you were represented by the Angelos Law Firm in connection with the 1994 MCIC asbestos settlement, you may be eligible to claim a portion of a $57,000,000 class action settlement.

The Angelos Law Firm has agreed to settle a class action lawsuit related to the handling of additional insurance claims following the 1994 MCIC Settlement Agreement.

Who are the class members?

The class members include individuals who were represented by the Angelos Law Firm in the 1994 MCIC Settlement Agreement and are listed as beneficiaries or surviving family members.

The criteria for being a class member are as follows:

• All persons or their estate representatives or next of kin who were represented by the Angelos Law Firm in connection with the Motion to Enforce and/or the Tort Action.
• Identified on the MCIC Settlement Beneficiary List or the Surviving Family Member List.

These lists are attached to the Settlement Agreement available on the official settlement website. If you received a notice, it indicates that you are likely a class member.

How much can class members get?

The settlement fund will be distributed among class members based on their disease category at the time of the 1994 MCIC Settlement Agreement.

Approximate payments:

• Non-Malignancies: $3,340.51
• Other Cancers: $5,010.76
• Lung Cancer: $14,197.15
• Mesothelioma: $31,734.80

These amounts will be paid in five annual installments. The first payment will be the largest, followed by four equal smaller payments.

Class members do not need to take any action to receive their settlement payments. The Settlement Administrator will distribute the payments automatically to eligible class members over five years.

Settlement fund breakdown

The settlement fund of $57,000,000 will cover:

• Payments to class members based on their disease category.
• Attorneys' fees, which are 33% of the settlement fund.
• Administrative costs estimated at $500,000.
• Incentive payments of $10,000 each to the three Class Representatives.

When is the payout date?

The Court will hold a Final Approval Hearing on November 22, 2024. If the settlement is approved, payments will be distributed to class members as outlined.