Plibrico 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.
Plibrico Asbestos Trust Fund
Facts:
Founded: 1914
Head Quarters: Northbrook, Illinois
Turn out: manufacturing pliable brick materials as well as refractory products
Operating status:
Asbestos Trust: Yes
Trust began: 2006
Trust Amount: $205,000,000
Asbestos Trust Fund
After filing for Chapter 11 bankruptcy in 2002, Plibrico created a plan to reorganize. Four years later, in 2006, they emerged from bankruptcy and officially established the Plibrico Asbestos Trust Fund. The trust settles current and future asbestos claims against the company. Every case is evaluated on various factors, including age, exposure, and illness. Currently, the payment percentage for successful claims is incredibly low at 1.36%.
Asbestos Litigation
Pilbrico began receiving asbestos-related lawsuits in the 1980s and continued receiving them through the 2000s. They held liability for not only manufacturing their products but also for distributing them to other companies. They faced multiple large cases, including a big lawsuit in 2001 where the New Jersey Steamfitters Union sued numerous companies for exposing workers to asbestos. Plibrico was eventually forced to file for Chapter 11 Bankruptcy in 2002, but their business is currently flourishing. They recently entered into a new European partnership created in a relationship with 12 countries.
Occupational Exposure
Since products containing asbestos were highly prevalent in Plibrico Company, many individuals, including workers and the general public, were put at risk. Since the company expanded, there were a variety of 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 conditions. Various occupations that may have been affected include: boiler workers, furnace operators, insulator installers, insulator repair workers, ironworkers, pipefitters, pourers, smelter workers, steamfitters, and steelworkers.
History of Asbestos Use
Plibrico Company was initially founded in 1914 by W.A.L. Schaeffer and was known as the Pliable Brick Company. Schaeffer understood the importance of pliable firebrick, especially for cargo ships during WWI, and he knew brick linings would benefit the world. His innovative ideas led to the future creation of plastic refractories.
The products Plibrico was creating needed to withstand extremely high temperatures and they often added a variety of materials to them to achieve that. In the 1950s, the company began to add a mineral called asbestos to its products.
Plibrico added asbestos to many of its products, including its insulating cement and boiler coating. 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. Plibrico Company’s products were using asbestos in their products above the legal limit.
Employees working for Plibrico Company were exposed to environments full of airborne asbestos fibers. When exposed to large amounts of the material, it can cause diseases such as mesothelioma, asbestos, and cancers with serious long-term effects.
The company finally stopped using its products in the 1970s, but unfortunately, individuals were already facing the consequences of asbestos exposure. Starting in the 1980s, Plibrico began receiving asbestos-related lawsuits, and in 2002, they filed for Chapter 11 Bankruptcy.
The company currently operates and works with the manufacturing and installing of aluminosilicate and high alumina monolithic refractories.
Asbestos Products
Plicast Airlite
Plicast LWI-24G
Pliseal Boiler Wall Coating
Plisulate Insulation Block
Plisulate Insulating Cement
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Asbestos Trust Fund Information
- There are close to 60 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. Court 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, Pathology Report, showing claimant diagnosed with an asbestos-related disease.
Physician Statement: Statement from a qualified doctor regarding the diagnosis.
Exposure Evidence: Witness affidavits, employment records, company invoices linking a company product or facility to asbestos exposure.
Mesothelioma Trust Funds and Asbestos Exposure
- Malignant Mesothelioma is commonly diagnosed in people between the ages of 50 and 75 years old.
- There are 2,500-3,000 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.
Malignant Mesothelioma has been linked to workplace 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 2,500-3,000 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.
Mesothelioma Claims and Plibrico Asbestos Trust Fund
A person diagnosed with Mesothelioma may be entitled to recover compensation for the following:
Mesothelioma Damages
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 Branches of Service
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. NonAsbestos Trust Funds and $1.5 Million for Asbestos Trust Funds.
- $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 second hand 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
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.
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.
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?
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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.
If you have a legal question about a Mesothelioma lawsuit, you don t have to come into our office. Call us, and you ll 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.
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