Keasbey & Mattison Asbestos Trust Fund
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
Keasbey & Mattison Asbestos Trust Fund
Facts:
Founded: 1873
Head Quarters: Ambler, Pennsylvania
Turn out: various construction supplies and auto parts
Operating status: Stopped Operation in 1987
Asbestos Trust: Yes
Trust began: 2006
Trust Amount: $2.11 billion
Asbestos Trust Fund
Armstrong World Industries couldn’t handle the accumulating amount of asbestos-related claims, and in 2000, they filed for bankruptcy. The company then started creating a reorganization plan and established the Armstrong World Industries Asbestos Personal Injury Settlement Trust Fund with $2.11 billion. In 2007, the fund officially began accepting claims. The current payment percentage for successful claims is 26%. Every case is evaluated on various factors, including age, illness, and exposure.
Asbestos Litigation
Keasbey & Mattison began accumulating lawsuits in the 1980s and were a subject of a landmark legal case in 1987. In 1987, Keith Edwin Gibson sued Armstrong World Industries due to asbestos exposure and damage it caused him. The U.S. District Court of Colorado declared that since Nicolet had purchased K&M’s assets and manufactured their asbestos products, they were liable for the thousands of asbestos claims. Due to the fact that Armstrong World Industries had absorbed Nicolet, they were responsible for every suit filed against K&M and Nicolet. The court decision made it so that companies were responsible for the assets and liabilities of the businesses they bought.
This landmark case made it possible for asbestos-illness victims to receive compensation from a large number of companies.
Environmental Effects
In 2009, multiple areas in Pennsylvania where the company operated were added to the United States Environmental Protection Agency’s National Priorities List. The sites contained asbestos from products like shingles and millboards.
Before being identified as dangerous locations, they were being utilized by the public. One of the areas was used as a playground and public park before being shut down in the 1980s.
Armstrong World Industries was responsible for covering financial costs for recovery and clean-up costs in Ambler, Pennsylvania.
In 2017, the final clean-up for their BoRit site was scheduled, and an air testing proved there was no unacceptable risk from airborne asbestos in surrounding areas.
Occupational Exposure
Since products containing asbestos were highly prevalent in Keasbey & Mattison, many individuals, including workers and the general public, were put at risk. Since the company expanded quite quickly, there were multiple plants 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: roofers, plumbers, pipefitters, maintenance workers, insulators, K&M employees, interior decorators, electricians, construction workers, carpenters, brake mechanics, boiler workers, automotive mechanics, and automobile factory workers.
History of Asbestos Use
The Nicolet Company was originally known as the Keasbey & Mattison Company and was founded by two business partners, Henry G. Keasbey and Dr. Richard V. Mattison, in 1881. They initially started their pharmaceutical company in Philadelphia but decided to move it to the town of Ambler in Pennsylvania. The citizens living in the town hoped it would rebuild their economy.
The company did well and created job prosperity with factory jobs for the people in Ambler. Mattison went as far as to have a library and opera house built in the town. Eventually, Keasbey & Mattison stepped away from producing patent medication after Mattison discovered that the combination of Milk Magnesia and Asbestos created material for pipe insulation.
By the late 1880s, the company had completely shifted its focus to manufacturing industrial and construction supplies. They became one of the biggest manufacturers of asbestos products including textiles and changed their name to K&M by the twentieth century.
Companies often add asbestos to products such as insulation and cement to achieve heat resistance. Asbestos is an inexpensive group of minerals that contain fibers that stop heat, and companies are allowed to use it as long as it doesn’t account for more than 1% of the product. Keasbey & Mattison Company’s 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.
In 1934, the Keasbey & Mattison was sold to British company Turner & Newall. They operated the company for almost thirty years until they sold to Nicolet Industries and CertainTeed Corporation in 1962. Nicolet continued producing asbestos products until they were forced to file for bankruptcy in 1987 after being named in more than 60,000 asbestos-related cases.
Eventually, Armstrong World Industries acquired the company, and they filed for bankruptcy in 2000 due to asbestos claims.
Asbestos Products
Air-Cell Pipe Covering
Ambler Asbestos Fibers
Amberlerex No. 2 Asbestos Cement
Asbestos-containing Lumbar
Asbestos Electrical Tape
Asbestos Electrical Tubing
Asbestos Furnace Cement
Asbestos Millboard
Asbestos Paper
Asbestos Pipe Joint Tape
Asbestos Roll Board
Asbestos Textiles
Asbestos Wick Packing
Automotive Gaskets
Bestfelt Pipe Insulation
Century Asbestos Corrugated Roofing
Century Asbestos Corrugated Siding
Century Asbestos Shingles
Century Asbestos-Cement Shingles
Compressed Asbestos Sheet Packings
Duplex Wrap Insulation
Ebonized Asbestos Sheets
Featherweight Insulating Cement
Fireproof Curtains
Hy-Temp Pipe Insulation
Insupanel
Kay-Therm Pipe Insulation
Insupanel
Kay-Therm Pipe Covering
Kolor-Mate Asbestos Cement Composition Board
Linabestos Siding
Monobestos Cement
Rope Packing
Sheetflextos Cement
Simplex Pipe Covering
Sprayed Limpet Asbestos
TexMo Brake Lining
Twisted Asbestos Rope Packing
Trafford Tile
Waltile
White Cold Molded Asbestos
Zebra Insulation
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.
Keasbey & Mattison Asbestos Trust Fund 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
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.
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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.
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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
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