G-I Holdings Inc. Asbestos Personal Injury Settlement Trust
Asbestos Trust Funds Claims and Mesothelioma
U.S Asbestos Bankruptcy Trusts Funds have paid out nearly 21 billion to more than 600,000 asbestos claimants. There are about 60 active Asbestos Trust Funds with an estimated $32 billion in remaining assets.
Asbestos Settlement Trusts were established to help compensate workers and their families for asbestos exposure causing Mesothelioma and other asbestos-related diseases. When an Asbestos company establishes a Trust Fund all settlements are managed by trustees that decide the compensation amounts paid to Mesothelioma claimants. U. S. Courts allow Asbestos defendants to file for protection under a legal process known as bankruptcy reorganization. This allows the company to pay claims and stay in business.
Asbestos Trust Fund settlements typically do not come with an admission of guilt by the asbestos company that set up the trust.
Global Asbestos Disaster Study Estimates More than 39,000 USA Deaths Annually from Asbestos-Related Diseases.
Specifically, asbestos contributes to 34,270 lung cancer deaths, 3,161 mesothelioma deaths, 787 ovarian cancer deaths, 443 larynx cancer deaths and 613 chronic asbestosis death. Source: www.adao.us
G-I Holdings Inc. Asbestos Personal Injury Settlement Trust
Head Quarters: Wayne, New Jersey
Turn out: Roofing and construction materials
Operating status: Still Currently Operating
Asbestos Trust: Yes
Trust began: 2009
Trust Amount: $770 million
Asbestos Trust Fund
After filing for bankruptcy in 2001, G-I Holdings, the parent company of GAF Corporation, created a trust to handle the current and future asbestos claims. The trust was officially formed in 2009 and began accepting claims in 2010. Every case is evaluated on various factors, including age, exposure, and illness. Currently, the payment percentage for successful claims is 7.4%.
GAD began seeing asbestos-related lawsuits at the end of the 1980s, and by 2005 the company and G-I Holdings had paid over $750 million to asbestos victims. It was expected that the company would face over 100,000 asbestos lawsuits to handle the accumulating claims G-I Holdings, GAF’s parent company, filed for Chapter 11 bankruptcy in 2001.
Since products containing asbestos were highly prevalent in GAF, many individuals, including workers and the general public, were put at risk. Since the company expanded quite quickly, there were multiple locations where individuals may have come into contact with asbestos materials. Some workers were exposed on a routine schedule, and due to effects have asbestos-related health complications. Various occupations that may have been affected include: carpenters, chemical plant workers, construction workers, electricians, flooring workers, GAF asbestos miners, GAF manufacturing plant workers, HVAC workers, insulators, metal workers, oil refinery workers, painters, plumbers, power plant workers, roofers, Ruberoid manufacturing plant workers, siding contractors, Veterans of the U.S. armed forces.
History of Asbestos Use
Initially known as American I.G., G-I Holdings started as an American Branch of the German company I.G. Dyes, a chemical conglomerate. After the company acquired General Aniline Works and merged with Agfa-Ansco Corporation, they decided to change the name to General Aniline and Film in 1939.
The company was growing consistently but paused in 1942 when the United States of America seized the company during World War II due to its affiliation with Germany. The company was run for twenty-three years by federal-government-appointed directors. In 1965 the company was released, and they decided to expand and go public. They acquired Ruberoid Corporation, a roofing supply manufacturer, and three years later permanently switched their name to GAF.
When the company acquired Ruberoid Corporation, they also joined the world of asbestos. Ruberoid had an asbestos mine in Lowell, Vermont and had a product line containing asbestos in products such as insulation and roofing shingles. Although asbestos became known as dangerous in the early 1930s, the Ruberoid asbestos mines stayed open until 1975, and that same year miners raised enough money to purchase the mines from GAF. GAF products containing asbestos were produced through 1981.
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. GAF products were using asbestos in their products above the legal limit. Employees working for them were exposed to environments full of airborne asbestos fibers. When exposed to large amounts of the materials, it can cause diseases such as mesothelioma, asbestosis, and cancers with serious long-term effects.
GAF Corporation saw the bulk of its success in the mid-1980s when there was a demand for its products. Over time their asbestos history caught up to them, and they began accumulating thousands of asbestos-related illness lawsuits. Eventually, they were forced to file for bankruptcy due to financial costs.
Chrysotile Asbestos Fiber
GAF Air-Vent Asbestos Felt
GAF Asbestos Base Felt Roofing
GAF Asbestos Combination Flashing
GAF Asbestos Rollboard
GAF Asphalt Tile
GAF Boiler Jackets
GAF Brick-Strip Paper
GAF Bright Future Luxor Vinyl Floors
GAF Calsilite Insulating Cement
GAF Cement Roofing Shingles
GAF Color-Tex Cement Sheets
GAF Contico Asbestos Floor Tile
GAF Fashioncraft VinylFlex Floor Tile
GAF Flat and Corrugated Asbestos Paper
GAF Flat Corrugated Asbestos Paper
GAF Frost-Proof Pipe Covering
GAF Grade Hard Finish (HF) Cement
GAF Hearth-Glow Brick
GAF Hi Pipe Covering
GAF Hooker Grade Fiber
GAF Imperial Insulation
GAF Imperial Sheet Vinyl Flooring
GAF Insulating Cement
GAF Luran Airtred Vinyl Floors
GAF Luran Airtred Sheet Vinyl Flooring
GAF Luran Imperial Sheet Vinyl Flooring
GAF Luran Regency Sheet Vinyl Flooring
GAF Pipe Covering Insulation
GAF Range Boiler Jacket
GAF Roofing Felts
GAF Roofing Painting Products
GAF Satin Finish Cement
GAF Sheet A-1 Vinyl Floors
GAF Sponge Felt
GAF Stoneglow Vinyl Asbestos Tile
GAF Sure-Stik Adhesive-Backed Vinyl Tile
GAF T/NA Insulation Jacket
GAF T/NA 100 Asbestos Paper
GAF T/NA 100 Plastic Film
GAF T/NA 200 Asbestos Paper
GAF T/NA 200 Plastic Film
GAF Timbertex Shingles
GAF Vinyl Asbestos Floor Tiles
GAF VinylFlex Floor Tile
GAF 313 Mineral Wool Insulation Cement
GAF 412 Single-Coat Insulation Cement
GAF Ruberoid Air Cell
GAF Ruberoid American Thatch Roofing Shingles
GAF Ruberoid American Thatch Shingles
GAF Ruberoid Anti-Sweat Pipe Covering
GAF Ruberoid Aristo Insulating Siding
GAF Ruberoid Asbestos Millboard
GAF Ruberoid Asbestos Rollboard
GAF Ruberoid Calsilite Block Insulation
GAF Ruberoid Calsilite Covering Insulation
GAF Ruberoid Calsilite-Hi Pipe Block insulation
GAF Ruberoid Calsilite-Hi Pipe Covering Insulation
GAF Ruberoid Calsilite Insulating Cement
GAF Ruberoid Calsilite Pipecovering
GAF Ruberoid Corrugated Asbestos Cement Sheets
GAF Ruberoid Deluxe Stonewall Boards
GAF Ruberoid Dura-Color Colonial Siding
GAF Ruberoid Eternit Cement Sheets
GAF Ruberoid Eternit Pressure Pipe
GAF Ruberoid Grain-Tex Asbestos Cement Siding
GAF Ruberoid Matico Asbestos Floor Tiles
GAF Ruberoid Roofing Asphalt
GAF Ruberoid Stonewall Boards
GAF Ruberoid Utility Corrugated Asbestos Sheets
GAF Ruberoid Vermot Asbestos Fibers
GAF Ruberoid Vermont Asbestos Insulating Cement
GAF Ruberoid Vermont Asbestos Grade 115 Raw Asbestos Fiber
GAF Ruberoid WatcoCell Sheets & Block
GAF Ruberoid SuperCell Pipe Covering
GAF Ruberoid SuperCell Sheets & Block
GAF Ruberoid Weather Coat Emulsion
GAF Woolfelt Pipe Covering Insulation
GAF Ruberoid 115 Insulating Cement
GAF Ruberoid 203 Insulating Cement
GAF Ruberoid 214 Insulating Cement
Have A Question About Asbestos Trust Funds?
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How Do Mesothelioma Trust Funds Work?
Asbestos exposure victim’s diagnosed with mesothelioma and other asbestos-related diseases can submit their claims to asbestos settlement trusts belonging to the bankrupt asbestos companies responsible for their illness. Surviving relatives of mesothelioma that have died from asbestos exposure are also eligible to submit claims to responsible asbestos trust funds.
After submitting a claim, asbestos trust funds decide whether to pay a claim. The decision to pay a claim is made separate from the company that created the trust fund.
Asbestos Trust Fund Information
- There are more than 65+ Asbestos Trust Funds set up by U. S. Courts.
- Asbestos bankruptcy reorganization can be a lengthy process that can span several years.
- Asbestos Trusts publish additional information about their Trust guidelines, qualifications and rules.
- Representatives of current and future Mesothelioma claimants must consent to any significant changes to these trusts.
- Since 1988, Asbestos trusts have paid out about $17.5 billion representing more than 3 million claims.
- Since 2011, Asbestos Trust Funds have combined assets of $36.8 billion.
- Since 2010, the average percentage paid per asbestos victim is 25 percent of a claim.
- Asbestos Trust Funds set Statutes of Limitations that only allow a certain amount of time to file an Asbestos claim.
- Mesothelioma Claimants can sometimes file both Asbestos Trust lawsuits and Asbestos claims.
- S. Courts must approve the amount that is set aside before the Asbestos company will be granted bankruptcy protection.
Evidence Required to File an Asbestos Trust Fund Claim
Diagnosis: Medical Documentation, including biopsy information, and pathology report, showing claimant is diagnosed with mesothelioma or an asbestos-related disease.
Physician Statement: The victim must also provide medical documentation to confirm the mesothelioma diagnosis, signed off by a doctor or mesothelioma specialist.
Exposure Evidence: Witness affidavits, employment records, company invoices linking a company product or facility to asbestos exposure.
Asbestos Trust Fund Claims
It is very important to contact a Mesothelioma lawyer soon after you have been diagnosed with Mesothelioma. The only known cause of this Mesothelioma is exposure to asbestos. Mesothelioma is a progressive disease, with a 10-50 year-latency period developing over years or even decades in many patients. Therefore, your statute of limitations does not begin with the time of exposure. Rather, it begins with your diagnosis that you have Mesothelioma.
If you have been diagnosed with Mesothelioma, you have legal rights. But you need to act quickly, because the statute of limitations in most states is 1-3 years.
Mesothelioma and Asbestos Exposure
- Malignant Mesothelioma is commonly diagnosed in people between the ages of 50 and 75 years old.
- There are 3000-3,500 malignant Mesothelioma cases diagnosed each year in the United States.
- 1 in 3 U. S. military veterans will develop an asbestos related disease in their lifetime.
G-I Holdings Inc. Asbestos Personal Injury Settlement Trust and Mesothelioma Claims
A person diagnosed with Mesothelioma may be entitled to recover compensation for the following:
Factors that May Affect the Value a Mesothelioma Case Include:
- Age, Gender, Location, and Work History
- History of Military Service
- Pain and Suffering
- Where Asbestos Exposure Occurred
- How Many Asbestos Products are involved with Your Exposure
There Are 4 Primary Types of Mesothelioma Claims:
Product Liability – Can be filed against companies that manufactured and distributed asbestos products.
Medical Malpractice – Can be filed against doctors or hospitals if they misdiagnose or delay your diagnosis of Mesothelioma.
Workers Compensation – Can be filed against an employer if you were exposed to asbestos while on the job.
Wrongful Death – Can be filed against asbestos manufacturers, asbestos distributors, or an employer of a product containing asbestos that directly caused a person’s death if their actions constituted gross negligence for a deceased worker s safety.
How a Mesothelioma Attorney Can Help
An experienced Mesothelioma lawyer will help you to file a Mesothelioma lawsuit to hold negligent asbestos manufacturers and asbestos companies accountable for the severe pain and suffering that comes with a Mesothelioma cancer diagnosis.
Military Veterans Diagnosed With Mesothelioma
Recent Mesothelioma Verdicts
- $4.6 Million Mesothelioma Settlement: For a union insulator that developed malignant Mesothelioma from asbestos exposure.
- $10.2 Million Mesothelioma Verdict: For a Paper Mill worker suffering from pleural Mesothelioma.
- $8 Million Mesothelioma Award: For a man diagnosed with Mesothelioma.
- $1.2 Million Mesothelioma Settlement: For a 76 year-old carpenter that developed malignant Mesothelioma.
- $1.1 Million Veteran Mesothelioma Settlement: For a Navy veteran machinist that developed malignant Mesothelioma at age 71.
- $245,000 Asbestosis Settlement: For a Paper mill worker suffering from Asbestosis.
- $2.5 Million Mesothelioma Settlement: For a union pipefitter man who died from malignant Mesothelioma.
- $2.6 Million Shipyard Worker Mesothelioma Settlement: For the family of a 72-year old shipyard worker with Mesothelioma who suffered secondhand exposure.
- $5 Million Navy Veteran Mesothelioma Verdict: For a Navy Boilerman who developed Mesothelioma during his service.
- $1.8 Million Mesothelioma Settlement: For a carpenter that developed malignant Mesothelioma at age 68.
- $7.5 Million Mesothelioma Verdict: For a woman that developed peritoneal Mesothelioma from laundering her husband s work clothes.
TO GET HELP – Our Nationwide Toll-Free Mesothelioma Helpline Number is 888.640.0914
Settlement Averages for Mesothelioma Lawsuits
The average verdict in a mesothelioma lawsuit is about $2.4 million, and the average settlement is between $1 million and $1.4 million according to Mealey’s Litigation Report.
Malignant Mesothelioma is rare form of cancer that affects lining of the lungs, abdomen, heart, and major organs in the body. Mesothelioma is a disease in which malignant cancer cells are found in the sac lining the chest (pleura) or the abdomen (peritoneum). There are about 3,000 new malignant Mesothelioma cases diagnosed each year in the U. S. If you are experiencing any Mesothelioma symptoms you should contact a doctor immediately.
Diagnosed With Mesothelioma?
If you or a family member has been diagnosed with malignant Mesothelioma you are going to have a lot of questions about living with Mesothelioma and what legal options you have against asbestos manufacturers and asbestos companies for your asbestos exposure. Mesothelioma is a seriously deadly disease. According to the American Cancer Society with the average survival time for people with Mesothelioma is 4-18 months.
Mesothelioma Personal Injury Lawsuit
Can be filed by anyone after being diagnosed with mesothelioma cancer.
Can be Filed against companies responsible for a victim’s asbestos exposure.
A Mesothelioma personal injury lawsuit allows victim’s to receive compensation for pain, and suffering, lost wages, costly treatment, travel, and other and related costs.
Call TOLL FREE 888.640.0914 right now to talk with a live Mesothelioma Counselor that can answer many of your questions and give you the peace of mind that you need.
Family Member Died From Mesothelioma?
If you have a family member that has died from Mesothelioma cancer you should immediately consult with an experienced Mesothelioma diagnosis lawyer about what compensation may be available to you from asbestos trust funds that total more than 30 billion dollars.
Mesothelioma Wrongful Death Lawsuit
Can be filed by surviving family members after the death of a loved one from mesothelioma cancer.
Can be Filed against asbestos companies responsible for a victim’s asbestos exposure causing death.
A Mesothelioma wrongful death lawsuit allows victims to receive compensation for burial and funeral expenses, lost wages, loss of companionship, and other and related costs.
It is VERY IMPORTANT that you file your Mesothelioma claim within your states Statute of Limitations.
We have seen many families lose their right to file a lawsuit because their Statute of Limitations had expired while they were grieving. We know it is a tough time to grieve the loss of a loved one, but please do not let your Statute of Limitations expire for filing your Mesothelioma lawsuit. In most states the Statute of Limitations is 2-3 years. Some states have 6-year Statute of Limitations.
Mesothelioma Latency Period
Mesothelioma has a long latency period of 10-50 years. Many Veterans, Shipyard Workers, Construction Workers, Power Plant Workers, Mill Workers, Steel Workers, Railroad Workers, Pipefitters, Insulators, Electricians, Carpenters, Welders, Auto Mechanics, Veterans, Factory Workers, and laborers are living in the early stages of a variety of asbestos related diseases. Many Mesothelioma lawyers will not accept asbestosis, asbestos lung cancer, pleural plaques, pleural thickening, colon cancer and esophageal cancer cases.
There is More Than 30 Billion Dollars Set Aside for Mesothelioma and Asbestos Victims in Asbestos Bankruptcy Trusts
Need a Mesothelioma Lawyer?
If you or a family member has been diagnosed with Mesothelioma or an asbestos related disease, we can help you start a Mesothelioma lawsuit against asbestos companies responsible for your injuries. Our experienced nationwide Mesothelioma lawyers will come to you.
Call our Mesothelioma Toll Free Helpline at 888.640.0914 and get help today!
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We can usually tell within a few minutes whether we can help you, and if we can not maybe direct you to someone who can. We are always accessible by phone, email and online chat.
We are always available to answer your questions with a phone call and will always keep you informed. We will do everything we can to ensure that you receive the highest compensation for your injuries.
If you have a legal question about a Mesothelioma lawsuit, you don t have to come into our office. Call us, and you will speak directly to a lawyer, and if a lawyer is not available, your call will be returned as quickly as possible.
Workers and Asbestos Containing Products
People that worked in shipyards, refineries, power plants, mills, factories, plants, salvage yards, engine rooms, installing brakes, gaskets, insulation, valves and pipes have a higher risk of developing an asbestos related disease in their lifetime.
How Second-Hand Asbestos Exposure Occurs
When asbestos is disturbed, broken apart, cut, decayed, or damaged, it releases tiny asbestos microscopic fibrous particles that can cling to hair and clothing. These asbestos fibers are easily transferred to others where they can accumulate in the lining of lungs that cause mesothelioma lung
Top 225+ Most Mentioned Asbestos Products in Lawsuits
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Asbestos Trust Funds: G-I Holdings Inc. Asbestos Personal Injury Settlement Trust