Forbes contributing writer Dan Fisher nailed it!
Check out his new article detailing Asbestos Trust Fraud, Insider Dealing and the Misappropriation of Funds –
Here’s a link to the article –
These corrupt lawyers involved don’t think we (those representing victims) don’t know?
To be sure they read the article – I made sure to e-mail each a link to the article – Here’s the e-mail – ;-P
LET THESE “LOSERS” (FIDUCIARIES) BELOW KNOW EVERYONE KNOWS THE FUNDS THEY ARE STEALING FROM ASBESTOS VICTIMS –
From: Michael Mandelbrot <mandelbrot@asbestoslegalcenter.org>
To: Alfred Wolin <awolin@saiber.com>; Bethany P. Recht <brecht@kmklaw.com>; Bob Capritti <rcapritti@verusllc.com>; Marc E. Wolin <mwolin@saiber.com>; Suzanne Barkoff <sbarkoff@saiber.com>; Mary Ellen Nickel <mnickel@delcpf.com>; Melissa Metzfield <mmetzfield@claimsres.com>; Dan Myer <dmyer@verusllc.com>; Sander L. Esserman <esserman@sbep-law.com>; Mike Rooney <mfrclaims@mfrclaims.com>; Kathleen Campbell Davis <kdavis@camlev.com>; Marla R. Eskin <meskin@camlev.com>
Cc: Molly Spieczny <mspieczny@diiasbestostrust.org>; Nancy Freeman <nfreeman@diiasbestostrust.org>; Jared Garelick <jgarelick@claimsres.com>; Jason C. Rubinstein <jrubinstein@fklaw.com>; Marcellene Malouf <mmalouf@diiasbestostrust.org>; “ustpregion16.la.ecf@usdoj.gov” <ustpregion16.la.ecf@usdoj.gov>; Peter D’Apice <dapice@sbep-law.com>; Tom Florence <thomas.florence@ankuraconsulting.com>
Sent: Friday, June 8, 2018 11:21 AM
Subject: Asbestos Trust Funds – Recent Article
Notice – copy to blog/U.S. Trustee
Hi – Happy Friday.
Just wanted to be sure each of you “Fiduciaries” had seen the recent article below relating to Asbestos Trusts.
We all know what is taking place at every Trust in the Country. Favoritism (by a pack of “pliable” Fiduciaries); Misappropriation of Victim Trust Funds (hundreds of millions to ‘favored parties’ and to yourselves..i.e… I have a receipt showing Brayton used victims Trust funds to pay for his wedding bills…); Sham Audits by interested parties like Ankura/Morgan Lewis (…”let’s deceive the U.S. Trustee that we are properly auditing claims after misappropriating billions….and hey, let’s fund Tom Florence – an interested party…”); Concealment of Asbestos Sites (at every Trust) harming Future and Present Victims of due Compensation. Asbestos Victims just want this conduct and vast misappropriation to stop.
Please be sure to share with each of your ‘Fiduciary’ friends. I’ve also attached another recent article with shows where victims money is going. Page 7 has a wonderful graphic.
I added some of my favorite quotes from the article below. “Pliable”
Have a nice weekend.
Art Imitates Life: ‘Billions’ Describes Six-Figure, Part-Time Jobs On Asbestos Trusts
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“Trustees, typically selected by plaintiff lawyers, can earn several hundred thousand dollars a year for part-time jobs overseeing the management and dispensing of claims from the trusts….”
“In exchange, they (Kazan, Brayton and other Plaintiff Lawyers) want control over anybody who has a say about how this money is handed out,” said David Christian with DCA Law, who has represented numerous insurance companies in the often-adversarial process of determining who will ultimately foot the bills for asbestos claims. “They want somebody who is pliable.”
“Koppelman’s co-trustee on two trusts is Alfred M. Wolin, a retired federal judge whom the Third Circuit ordered off of several asbestos cases after insurers complained he had held hundreds of ex parte meetings with plaintiff lawyers. The court didn’t accuse Wolin of wrongdoing but cited the appearance of impropriety. Now in private practice, Wolin serves on seven asbestos bankruptcy trusts..” (…added text: …laughable to assume to there is not insider dealing in the selection of Wolin).
“The THAN trust was dominated by frequent fliers on the asbestos bankruptcy scene including Koppelman and Wolin, as well as an expert witness who has testified on the value of asbestos claims in nearly every bankruptcy in the past decade or so. The Future Claims Representative was Samuel Issacharoff, a NYU Law School expert on class actions and civil procedure who swore that future claimants were well protected under the first plan of distribution….
“Once in business, the trust started paying claims at 100% of estimated value, quickly transferring $325 million to current claimants and their lawyers (i.e. Kazan and other “Favored Parties”), who typically collect 30% or more of any claim.”
After the highest-value claims had been paid (to “favored parties” such as Kazan/Brayton), the trust announced a 16-month halt, then readjusted its estimates to reduce the payout to 30%, citing the need to preserve assets for the future against a higher-than-expected $2.5 billion in claims.” (here, every future THAN victim got ‘screwed’ while Plaintiff lawyers and Fiduciaries got rich…complete fraud…)
Christian, the lawyer who frequently represents insurers at odds with plaintiff lawyers, co-wrote a 2011 article blaming plaintiff lawyers and their hand-picked allies on the bankruptcy trusts for what happened at the THAN Trust. He and his co-authors concluded that “thousands of claims were suddenly manufactured and voted on,” giving plaintiff lawyers overwhelming control over the process….(..with no Fiduciaries – just ‘buddies’ of favored parties overseeing the process…)
Thanks,
Mike
Mandelbrot Law Firm/Asbestos Legal Center
1223 Grant Ave. Suite C
Novato, CA 94945
(415) 895-5175
(415) 727-4700 (fax)
Mandelbrot@asbestoslegalcenter.org
www.mesothelioma.pro
www.asbestoslegalcenter.org
JUN 6, 2018 @ 08:56 AM 1,956 The Little Black Book of Billionaire Secrets