Posts tagged #Mass Torts

BP Oil Spill claims, News for the Medical Benefit only class of claims

Late last week, the BP Oil spill claims process was in the news once again, this time with the announcement that the 5th Circuit Court of Appeals had issued a mandate on the Medical Benefit only class of claims. This second class, which is totally seperate from the business economic loss class, is focused on medical reimbursement for three unique groups of claimants who were either clean up workers, support workers or residents in the general zone of clean ups. 

This video features Attorney's Rick Kuykendall, Craig Downs and Daniel Perez in a 15 minute discuss of what this class is, who is eligible, the process by which the claims my be filed and the medical issues that are covered. Also, one of the unique features of this agreement is that for certain claimants there will be a 20 year comprehensive medical monitoring process to determine what, if any, medical issues might appear in the class over time. 

This is an important video in that it lays out the time frame during which claims can and should be made and provides lawyers and claimants with some crucial information as to whether or not people should attempt this process with out the assistance of an attorney. We will also being doing another video next week on the 2-1 decision of the Appeals Court which leans toward the resumption of payments on the BP Oil Spill economic loss claims process. 

The Settlement Channel is a weekly broadcast and commentary program hosted by Mark Wahlstrom, the President of Wahlstrom & Associates, one of the nations leading experts in settlement planning, structured settlements, multi-claimant litigation and QSF Trust administration.

Posted on March 6, 2014 .

Wahlstrom partners with SPI to develop Mass Tort division and expand Settlement Planning options for advisors

Mark Wahlstrom, the President and Founder of Wahlstrom & Associates announced today on his weekly broadcast, Speaking of Settlements, that his firm has reached an agreement to partner with Settlement Professionals Inc, (SPI) of Portland, OR. 

Wahlstrom will head up and develop the newly created SPI Mass Torts division with the intent of taking the decades of experience developed by Wahlstrom & Associates in Mass Torts and Multi-claimant litigation, and making it available to current and future settlement planners in the SPI national network.

This video will be of particular interest to structured settlement professionals and settlement planners, but also financial planners looking to add settlement planning to their professional practice. SPI will be announcing a variety of initiatives and expansion plans in the coming weeks and months with the objective being to create a dramatically different planning firm that appeals to top tier financial planning and consulting firms who are looking to either break into or expand their existing practice.

Posted on January 10, 2013 .

Structured settlements and mass torts, not for the "do it yourself" crowd...

As a follow up to my article and commentary last week I shot an edition of Speaking of Settlements in which I discuss again the problems that occur when a settlement planner decides to "do it themselves" in a complex situation.

Actually the situation and case I am discussing is even more distressing than I outlined in my prior commentary, largely because the litigation provided for several sub qualified settlement funds to be created on a firm or regional basis, and in almost every instance, the law firms either decided to not provide planning for their clients or elected to have their QSF set up by firms that have never done a taxable damage QSF.

How do I know this?

All you need to do is read the filings in federal and state courts to determine that in a couple of cases the documents were pure boiler plate from previous mass tort's, typically pharmacutical litigation.

While any structured settlement professional is free to work with whom ever they want, I think it would benefit our profession greatly if brokers would refrain from providing "free solutions" to lawyers who either don't understand the value of a qualified settlement fund, or don't want to pay for the value it does provide.

Free solutions and/or do it yourself...neither is how I'd want to have my claim settled.

Posted on January 23, 2012 .