Following years of litigation, the Hess Corporation has agreed to settle hundreds of asbestos exposure lawsuits filed by victims of mesothelioma and other asbestos-related diseases on the island of St. Croix. The company will establish a $106 million trust for the benefit of victims, their surviving family members, and those who may be diagnosed in the future.
St. Croix Oil Refinery Linked to Mesothelioma and Other Disease Diagnoses
According to the mesothelioma victims’ filings, the Hess-owned HONX oil refinery operated on the island of St. Croix from 1965 to 1998, and throughout those years the plant not only exposed workers to asbestos but also released hundreds of thousands of pounds of benzene into the area’s groundwater. After HONX resolved approximately 600 claims out of court, it filed for bankruptcy protection. In response, the victims sought compensation directly from the parent company.
The newly revealed settlement was filed in a Texas bankruptcy court and will see Hess Corporation provide $90 million in compensation for mesothelioma and other affected claimants who have already filed for compensation from the oil giant. An additional $15 million is being set aside to benefit those who may be diagnosed with an asbestos-related disease in the future, and $1 million will be provided to cover the trust’s administrative costs. The company has also agreed to set aside an additional $10 million should future claims exhaust the $15 million set aside for that purpose.
Resolution of Mesothelioma Claims Answers Needs of Older, Sicker Victims
The sizeable mesothelioma settlement comes after a change in the laws in the U.S. Virgin Islands which allowed sick, elderly victims to have their personal injury claims expedited. The Hess subsidiary had initially filed for bankruptcy protection to try to protect its assets from victims of asbestos exposure.
If you or someone you love has been exposed to asbestos, you need help getting the justice you deserve. For more information, contact the Patient Advocates at Mesothelioma.net today at 1-800-692-8608.
