Owens Corning Fibreboard Asbestos Bankruptcy Trust Fund
The Owens Corning Fibreboard Asbestos Trust Fund is available for people diagnosed with mesothelioma after exposure from the company’s asbestos-containing products. If you were exposed to asbestos from an Owens Corning or Fibreboard product and have been diagnosed with Mesothelioma, we want to help. Call Baron & Budd today at 855-280-7664 to see if you qualify to file trust fund claim for compensation.
Owens Corning Fibreboard Trust Fund Compensation
Despite having knowledge of the dangers of asbestos exposure, Owens Corning continued to use asbestos in many of their most popular home improvement products and industrial, high temperature insulation products from the 1950’s until 1972.
After filing for Chapter 11 bankruptcy, the company was required to set aside funds to compensate current and future victims who had fallen ill as a result of asbestos exposure while personally using or working around others using their asbestos products. The Owens Corning Fibreboard Asbestos Trust was created with funds close to $7 billion. If you were exposed to asbestos because of an Owens Corning or Fibreboard product, call our law firm to see if you qualify for a trust fund settlement.
Lawsuits for Years of Negligence & Asbestos Exposure
The first asbestos related lawsuit against Owens Corning was filed in 1978 on behalf of over 5000 individuals who had either worked directly with their asbestos-containing products or had been exposed to asbestos from Owens Corning products while working around others using the products. Evidence was presented indicating that the company had been aware of the hazards of asbestos since 1938, yet this company continued to use asbestos without informing the workers of the risks.
Settlement Amounts Paid by Owens Corning to Mesothelioma Victims
In a landmark case against Owens Corning in 1997, a plaintiff suffering from mesothelioma was awarded $31 million in punitive damages and $1.8 million in compensatory damages after the jury agreed the company had been well aware of the asbestos risks for more than three decades. Owens Corning then acquired another asbestos company called Fibreboard Corp., who also utilized asbestos in their asbestos-containing products under the trade name of PABCO.
Millions of dollars have been paid to our veterans with mesothelioma through VA mesothelioma claims and from the trust fund after exposure to Owens Corning Kaylo boiler and pipe insulation and PABCO insulation products. More people are diagnosed every year, and many of them are eligible to file for an Owens Corning asbestos trust fund settlement.
Formation of the Owens Corning Fibreboard Asbestos Trust
An initial petition for chapter 11 bankruptcy was filed in 2000, leading to the formation of the Owens Corning Fibreboard Asbestos Personal Injury Trust a few years later. More than $7 billion in funds were set aside to compensate victims who had developed an illness after exposure to asbestos contained in their products and/or while directly working for the company. Within two years of its initial creation, the trust paid out more than $360 million to claimants.
Owens Corning Asbestos Products
For well over 20 years, Owens Corning continued to add asbestos to many insulation and home improvement products, including but not limited to:
- Kaylo Pipe Insulation
- Kaylo Duct Insulation
- Kaylo heat insulating block and
- Kaylo Insulating Roofing Tiles
- Kaylo Cold Storage Units;
- The “One Cote Cement” product;
- OCF Mastic Adhesive Products.
Despite knowledge of the hazards of asbestos, Owens Corning labeled the above products as “non-toxic” until 1972. As a result of this negligence, a countless number of construction workers and tradesmen, U.S. Navy servicemen and shipyard workers, employees of Owens Corning, custodians, demolition workers and more were exposed to asbestos over long periods of time. Many people exposed during their work would bring the asbestos home on their clothing into their homes such that it would expose their family members.
With the acquisition of Fibreboard in 1997, Owens Corning also took financial responsibility for any asbestos-related claims which resulted from Fibreboard’s negligent use of asbestos in their own line of flooring and industrial insulation products that were marketed under the trade name – PABCO.
Claims Can Be Filed Electronically, But an Attorney Can Help Negotiate a Higher Payout
The Owens Corning Fibreboard Asbestos Personal Injury Trust has money waiting in it for victims diagnosed after asbestos exposure. We strongly advise working with an experienced mesothelioma trust fund lawyer who is familiar with asbestos trust like Owens Corning’s. Call our firm at 855-280-7664 to see if you qualify for a trust fund payout; our attorneys can make sure you are receiving the maximum amount of compensation possible.