In 1994, a Baltimore law firm reached a settlement with an asbestos installer that paid thousands of mesothelioma and asbestos-related disease victims between $1,000 and $9,500 per claim. Three decades later, the victims settled a legal malpractice claim with the law firm over errors made in the original agreement: the new settlement provides an additional $57 million to the more than 7,000 beneficiaries.
Complex Thirty-Year Journey Leads to $57 Million Asbestos Settlement
The path that mesothelioma and other asbestos-disease victims traveled to the new $57 million asbestos settlement has been long and winding. The original 1994 settlement agreement with Baltimore-area asbestos installer MCIC, Inc. was negotiated by the Law Offices of Peter Angelos. That agreement agreement was predicated on an MCIC’s insurers paying out all available insurance to a settlement fund. But in 1998, the Angelos firm discovered “substantial additional insurance applicable to the claims.”
The firm filed a motion on behalf of the mesothelioma and asbestos-disease victims to enforce the settlement but did not do so until 2002, by which time the courts ruled too much time had passed. Nineteen years later, a different law firm representing those victims filed suit against the original attorneys who managed their claim, accusing the firm of legal malpractice. Last month, that claim resulted in an agreement to pay $57 million to those victims based on the injury categories established in the original settlement. The monies will largely be paid from the estate of the law firm’s principal.
Estate of Famed Mesothelioma Attorney Will Pay $57 Million to Asbestos Victims
Interestingly, the $57 million will be paid from the estate of Peter Angelos, who died at the age of 94 in March of 2023 after a lifetime spent representing mesothelioma and asbestos-related disease victims. Angelos is estimated to have won more than $1 billion in damages from asbestos companies.
According to the general counsel of the firm that bears his name, “We are delighted that Peter’s legacy and the ongoing commitment of his family have ensured a resolution that serves to add further benefit for many historic clients of our firm.” Initial payments are expected to be distributed to victims early next year.
If you or someone you love has been diagnosed with malignant mesothelioma, the Patient Advocates at Mesothelioma.net are here to help. Contact us today at 1-800-692-8608 to learn more.
