Bankruptcy Lawyer Bryan W. Stone answers the question: “What are North Carolina’s exemptions?”
In the various stories we discuss on this blog, we frequently include warnings against hiding assets when filing for bankruptcy. One particular case this summer provides an illustration of precisely why doing so can land you in hot water—and prison.
Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “What are the pros and cons of bankruptcy ?”
After Vincent Golini was diagnosed with mesothelioma in 2009, he met with lawyers at Philadelphia, Pennsylvania’s Shein Law Center.
According to law suits unsealed by a Charlotte, North Carolina bankruptcy court, Golini told Shein lawyers that he had been exposed to as many as fourteen asbestos products produced by a range of bankrupt companies including Owens Corning and Armstrong World Industries.
Mesothelioma is a deadly lung disease caused by exposure to harmful asbestos particles, often inhaled while working in industries that use asbestos to produce certain products.
When Shein brought suit on Golini’s behalf against Garlock Sealing Technologies, a now-bankrupt western-North Carolina based gasket maker, he denied being exposed to asbestos through products made by companies other than Garlock. Evidence of exposure through products made by other companies was intentionally suppressed, the news service Reuters reports, because those companies were bankrupt at the time Golini brought suit. That made Garlock a far-more attractive target to asbestos claimants like Golini.
After Garlock settled with Golini, lawyers at Shein directed Golini to “file claims with the asbestos trusts that were set up by Owens Corning and other bankrupt makers of asbestos products.”