In a recent decision, a federal court approved a bankruptcy plan that sets aside $50 million to compensate those affected by asbestos-contaminated talc supplied by Presperse and its parent company. This new trust fund will allow victims of mesothelioma and ovarian cancer and their families to seek financial compensation without needing to engage in lengthy, expensive litigation.
Over the past several years, Presperse, a New Jersey-based supplier of cosmetic talc, has faced a growing number of lawsuits. Close to 300 claims have been filed against the company, with plaintiffs alleging that asbestos fibers found in the company's talc resulted in mesothelioma and other asbestos-related illnesses. While Presperse continuously denies any wrongdoing and claims that the lawsuits lack merit, it ceased selling its talc products in 2023, and last year, it filed for Chapter 11 bankruptcy. This came after the company lost over $40 million in 2024. Presperse is the main talc supplier for more than 300 corporate clients and over 400 products, making the costs of defending itself unmanageable.
Recently, a federal court approved the company's $50 million settlement plan. This plan will make it easier for affected individuals to seek compensation. Instead of filing lawsuits in court and facing the lengthy and costly process, victims and their families can submit paperwork to the trust for evaluation. When a claim is approved, money will be disbursed from the fund, providing a faster and less stressful process.
The Presperse settlement comes amid a surge of talc-based lawsuits in the country. According to a 2024 review, almost 4,000 asbestos lawsuits were filed in that year, with nearly 800 specifically linked to talc exposure. Notably, approximately 90% of those lawsuits involved mesothelioma claims, a rare but aggressive form of cancer whose only known cause is asbestos. This growing number of talc-based lawsuits shows that the public is becoming increasingly aware of asbestos risks in cosmetic talc. Research has continuously found that naturally occurring talc can be contaminated with asbestos, which can lead to mesothelioma and other illnesses when inhaled.
Victims of mesothelioma and ovarian cancer, and their families, can now file their paperwork against the trust and seek to recover compensation for, among others, the following damages;
● Medical expenses
● Pain and suffering
● Lost income
● Funeral and burial expenses
Hopefully, this trust will deliver timely assistance to people with limited time and resources following a diagnosis.
Asbestos Trust Funds
This plan is not the first in the nation. Many other companies in various industries have set up asbestos trust funds to compensate victims and their families. Currently, it is estimated that over 60 such trusts hold tens of billions for eligible plaintiffs. Court-appointed trustees manage these trusts and disburse funds based on established payment percentages for different asbestos-related illnesses. Because of the large number of plaintiffs, trusts only pay a percentage of the settlement value to ensure all claimants receive something.
Arizona Mesothelioma Lawyers
If you or a loved one were diagnosed with mesothelioma, contact our office to speak to one of our experienced Arizona mesothelioma attorneys about your situation. Our office can help investigate your case and determine if compensation can be sought from negligent parties to help pay for your medical treatment.
