Armstrong World Industries Asbestos Trust Fund
In response to a wave of asbestos-related lawsuits, Armstrong World Industries established an asbestos trust fund in 2002, allocating two-thirds of their company shares to address liabilities following their bankruptcy in 2000. By 2007, this trust, backed by over $2 billion, commenced accepting claims, with settlements based on factors such as exposure, age, and injury severity. Despite a decrease in the payment percentage to 19.7% by 2020, Armstrong World Industries continues operations with over 3,000 employees and 25 manufacturing plants.
Occupational exposure to asbestos was widespread due to Armstrong’s products, putting workers and the public at risk. Over 750 individuals were employed by the company 30 years after its inception, and by 2016, the number had grown to 3,000. High-risk occupations included plant workers, insulation installers, construction workers, and more. Anyone employed from the 1900s to the 1980s may have been exposed to harmful asbestos. Armstrong’s asbestos-containing products were not only used in industrial settings but also installed in homes nationwide and utilized during World War II, further extending the scope of potential exposure.
The Armstrong World Industries Asbestos Trust Fund, managed by Trust Management Solutions, LLC, aims to compensate individuals harmed by Armstrong’s asbestos products. Established to address liabilities, the trust’s claims process has specific eligibility criteria. Compensation is determined based on injury severity, with guidelines provided on the trust’s website. Trust Management Solutions administers claim submissions, reviews, and distributions, prioritizing transparency, fairness, and the long-term viability of compensation for victims. Through its meticulous claims process and commitment to transparency, the trust aims to support individuals and families affected by asbestos exposure, ensuring they receive the assistance they need while upholding financial stability for future compensation.
Key Figures:
Founded: 1860
Assets: Approximately $40 million.
Payouts: Over $25 million to date.
Average Compensation: $50,000 to $200,000, depending on injuries.
Evaluation: Claims meticulously reviewed for fairness.
Accountability: Adheres to established guidelines and regulations.
Support: Assists victims and families throughout the process.
Viability: Focuses on financial stability and sustainability.
Additional Information:
Website: www.armstrongtrust.com
Managed By: Trust Management Solutions, LLC.
Purpose: Compensate those harmed by Armstrong’s asbestos products.
History: Established to address asbestos-related liabilities.
Claims Process: Open to victims, with specific eligibility criteria.
Compensation: Determined based on injury severity.
Transparency: Detailed guidelines available online.
Administration: Manages claim submissions, reviews, and distributions.
Mission: Fairly compensate victims while ensuring trust sustainability.
Image Source: https://en.wikipedia.org/wiki/Armstrong_World_Industries
FAQs About Applying for Armstrong World Industries Asbestos Trust Fund and Asbestos Exposure/Mesothelioma Lawsuits:
Who is eligible to apply for compensation from the Armstrong World Industries Asbestos Trust Fund?
Individuals who have been harmed by Armstrong’s asbestos products, including those diagnosed with asbestos-related diseases, may be eligible to apply.
How do I apply for compensation from the Armstrong Trust Fund?
Applicants must follow the outlined claims process, which typically involves submitting documentation of asbestos exposure, medical records, and other relevant information through the trust’s designated channels.
What types of compensation are available through the Armstrong Trust Fund?
Compensation may include funds for medical expenses, lost wages, pain and suffering, and other damages resulting from asbestos exposure and related illnesses.
Is there a deadline for filing a claim with the Armstrong Trust Fund?
Yes, there are usually deadlines for filing claims, known as statutes of limitations. It’s crucial to file within these timeframes to be considered for compensation.
What should I do if I believe I’ve been exposed to asbestos from Armstrong’s products but haven’t been diagnosed with an asbestos-related illness?
It’s essential to seek medical evaluation immediately if you suspect asbestos exposure. Additionally, consulting with legal experts familiar with asbestos litigation can help you understand your rights and options.
Can I file a lawsuit against Armstrong World Industries if I’ve been diagnosed with mesothelioma or another asbestos-related illness?
Yes, individuals diagnosed with asbestos-related diseases may pursue legal action against responsible parties, including Armstrong World Industries, to seek compensation for damages.
What steps should I take if I’ve been diagnosed with mesothelioma or another asbestos-related illness and wish to pursue legal action?
Seek legal counsel experienced in handling asbestos cases promptly. They can guide you through the legal process, including gathering evidence, filing a lawsuit, and advocating for your rights in court.
How long does it typically take to receive compensation from the Armstrong Trust Fund or through a mesothelioma lawsuit?
The timeframe for receiving compensation can vary depending on various factors, including the complexity of the case, the efficiency of the claims process, and the willingness of the defendant to settle. It’s essential to discuss timelines with your legal representation.
Is there assistance available for navigating the claims process or pursuing legal action for asbestos exposure and mesothelioma cases?
Yes, there are organizations, support groups, and legal resources dedicated to assisting individuals affected by asbestos exposure. Seeking guidance from experienced professionals can be invaluable in pursuing compensation and justice.
History of Asbestos Use
Armstrong World Industries originated in Pittsburgh, Pennsylvania, and was founded in1860 by John D. Glass and Thomas M. Armstrong. The company flourished quickly and by the 1890’s Armstrong World Industries was incorporated and considered one of the largest cork manufacturers in the world.
After conquering the cork industry, they began to expand and produce other products including insulation, flooring, and ceiling materials. Coincidently at the same time they began to expand, the use of asbestos became popular due to how inexpensive it was. One of their most popular products that used the toxic materials was vinyl asbestos tile which could be found in homes across the USA. Asbestos is a group of minerals that contain fibers that stop heat, and companies are allowed to use the product as long as it doesn’t account for more than 1% of the product. Armstrong World Industries had products with an incredibly high amount of the toxic material. For example, their vinyl and linoleum flooring contained up to 70% asbestos, and their limpet spray insulation contained 100% asbestos. Employees working for Armstrong and World Industries as well as the general public were exposed to these harmful materials. People with exposure were put at risk for diseases such as mesothelioma or asbestosis as well as cancers which have serious long-term effects.
Armstrong World Industries continued thriving through difficult circumstances including the death of Thomas Armstrong, the Great Depression, and World War II. The company’s business continued to surge, and they were able to build factories in California, Illinois, and Mississippi. Armstrong World Industries was able to capitalize on the war by producing plane parts, submarine parts, ammunition, and even camouflage. Asbestos was a material highly utilized in the war by many industries.
The industry did not stop working with asbestos until 1987, and by this point Armstrong World Industries consisted of multiple companies and entities. By 2000 over 175,000 claims had been made against the company for harmful effects and injuries from asbestos. It was estimated that their potential liability would be over $1.3 billion. Finally, in 2000, the company filed for bankruptcy and six years later they reorganized. When they reorganized, they set up an asbestos trust fund and in 2007 began receiving claims.
Asbestos Products
Accobest AS-474 Gasketing Material
Accobest AS-8073 Gasketing Material
Accopac AD-8024 Asbestos Paper
Acoustic Cement
Armstrong 314 Acoustic Cement 1945-1953
Armstrong Armaspray 1966-1968
Armstrong Accobest Gasketing Material 1963-1967
Armstrong Accopac Asbestos Paper 1930-1939
Armstrong Armaspray 16 Spray-on Insulation
Armstrong Armatemp Cement No.10
Armstrong Asphalt Tile 1961-1972
Armstrong CC Navy Sealer 1931-1972
Armstrong Emulsions
Armstrong Excelon Tile
Armstrong Excelon Vinyl Asbestos Floor Tile 1939-1957
Armstrong Finishes
Armstrong FRJ
Armstrong Heavy-Duty FRJ 1954-1980
Armstrong Heavy-Duty FRJ Insulation Jacket
Armstrong Hydrocord Flooring Felt 1939-1957
Armstrong LT- Cork Covering
Armstrong LT- Minus Thirty Cork Covering
Armstrong LT- Thirty Cork Covering
Armstrong LT- Zero Cork Covering
Armstrong LT Sealer
Armstrong Mastics
Armstrong Nonpareil High-Pressure Cement
Armstrong Nonpareil High-Pressure Covering Block
Armstrong Ring Facing Material
Armstrong Rubber Tile
Armstrong S-89 Adhesive 1939-1957
Armstrong S-90 Adhesive 1939-1957
Armstrong Sealers
Armstrong Sheet Gasketing Material
Armstrong Sprayed Limpet
Armstrong Vinyl Asbestos Tile 1955-1956
Asbestos Felt
Asbestos Flooring
Asbestos Tile
CC Navy Sealer 1942-1962
Hydrocord Flooring Felt- 1955-1963
LT- Cork Covering 1956-1959
LT Sealer 1939-1957
Nonpareil High-Pressure Cement 1909-1932
Nonpareil High Pressure Covering Block 1909-1932
S-89 (adhesive) 1965-1983
S-90 (adhesive) 1934-1983