US Gypsum Asbestos Bankruptcy Trust Fund
Were you exposed to asbestos by personally working with or around other workers using US Gypsum products? If so, the mesothelioma trust fund attorneys at Baron & Budd would like to help. Call 855-280-7664 today to see if you qualify for an asbestos bankruptcy trust fund settlement from USG.
US Gypsum’s History of Asbestos Lawsuits
The United States Gypsum Corporation, also known by the shorter name of USG, has been manufacturing construction related products for well over 100 years. Between the 1920’s and the 1970’s, however, many of their popular products contained asbestos and workers and consumers were never warned of the hazards associated with their products.
The US Gypsum Asbestos Trust was approved in 2006 and funded with $4 billion to be distributed to construction workers, shipbuilders, roofers and more who had been diagnosed with an asbestos-related illnesses after exposure to one or more of USG’s asbestos-containing products.
US Gypsum Mesothelioma Settlements & Knowledge of Asbestos Dangers
A significant case in Maryland filed by the city of Baltimore resulted in USG paying $4 million in punitive damages and another $8.2 million to compensate the city for the cost of asbestos removal from the local police headquarters. USG had continuously been found guilty of negligence due to their extensive marketing campaigns touting the safety of asbestos during the period in which the material was added to their construction products. Evidence indicated that USG had been aware of the health hazards of asbestos since the 1940’s, as they had hired a laboratory to study the impacts of the material a full decade earlier.
Bankruptcy Led to Formation of the US Gypsum Asbestos Trust Fund
USG initially filed for a chapter 11 bankruptcy in 2001. Five years later, the reorganization was approved and the US Gypsum Asbestos Bankruptcy Trust Fund was created. The company agreed to fund the trust with $4 billion in assets and the first claims were accepted in early 2007.
Asbestos-Containing Construction Products Dating to the 1920’s
After their formation near the turn of the 20th century, USG quickly became famous for their popular lines of construction related products. The DURABOND, Red Top, and Perf-A-Tape brands of plaster, adhesives, cements, protective coatings, paints and more were all formulated with asbestos as early as the 1920’s; many of their joint compounds, plasters, textures, ceiling tiles, block insulation, roofing materials and beyond also contained the dangerous mineral. Asbestos continued to be added to these products until 1978.
Unfortunately, USG failed to warn the public of the risks of asbestos exposure; as a result, hundreds of thousands of individuals have been impacted by a serious health disorder resulting from inhalation of these carcinogenic fibers from their products.
Construction Workers and Others Severely Impacted
People employed in any of the following industries or roles before 1978 were likely exposed to one or more asbestos-containing USG products:
- Construction workers or builders. Home remodelers, carpenters, plumbers, electricians and their supervisors are all at risk.
- Roofers. USG shingles and siding products contained asbestos.
- Ship builders or maintenance workers. USG produced wall insulation and roofing materials which were extensively utilized in ship construction.
- Petrochemical, chemical and utility workers, welders and those in the iron and steel industry.
Contact an Experienced Attorney for Asbestos Trust Fund Claims
Call 855-280-7664 to speak with Baron & Budd about your potential trust fund claim for mesothelioma. We represent people diagnosed with mesothelioma and their families across the country, in every city and state. We look forward to helping you get the money that’s waiting for you.