Shook And Fletcher Asbestos Settlement 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
Shook And Fletcher Asbestos Settlement Trust Fund
Head Quarters: Birmingham, Alabama
Turn out: insulation products
Operating status: Still Currently Operating
Asbestos Trust: Yes
Trust began: 2002
Trust Amount: $109 Million
Asbestos Trust Fund
After filing for Chapter 11 bankruptcy protection in 2002, Shook & Fletcher decided to reorganize. They officially put their reorganization plan into effect in 2002 by establishing the Shook $ Fletcher Asbestos Settlement Trust. The trust consisted of around $109 million to compensate victims and handle future asbestos claims. Claims are accepted from any of the 400 job sites where the company’s products were found, and the current payment percentage is 50%.
Thousands of employees were exposed to harmful materials from 1949 to the 1970s due to Shook & Fletcher’s use of asbestos. The company didn’t begin to face lawsuits until the 1970s, but they quickly accumulated cases by the tens of thousands when they did. By the time they filed for Bankruptcy in 2002, they had faced over 80,000 asbestos-related lawsuits. The company paid $40 million in claims before even filing for bankruptcy. In 1993, the company attempted to file a class-action lawsuit to settle its claims along with nineteen other asbestos companies. The case went to the Supreme Court and was rejected.
In one case, the company faced a woman who sued Shook & Fletcher as well as other companies for her husband’s death caused by an asbestos-related illness. Her husband had worked for decades as an insulator for multiple companies and was exposed to asbestos often at work. He developed mesothelioma, and the companies involved had to split a final verdict of $84 million.
Since products containing asbestos were highly prevalent in Pittsburgh Corning, 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: automobile factory workers, boiler workers, chemical plant workers, construction workers, general contractors, industrial workers, insulators, mill workers, oil refinery workers, laborers, paper plant workers, pipefitters, power plant workers, shipyard workers, steel plant workers, textile plant workers, and Veterans of the armed forces.
History of Asbestos Use
Shook & Fletcher Insulation Company was initially founded in Birmingham, Alabama in 1901. The company started as a brick, coal, and iron products manufacturer but quickly expanded into new fields. In 1949, they transitioned into the insulation industry, producing asbestos-containing insulation products. The company became one of the United States’ largest producers of industrial insulation.
Companies often add asbestos to products such as insulation to achieve heat resistance. 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. Shook & Fletcher 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 1967, a group of employees purchased Shook & Fletcher, and three years later, they stopped using asbestos in their products in 1970. They began to use fiberglass and other chemicals to replace the asbestos. They still currently operate six distribution facilities and work with over twenty-five manufacturers producing specialty products.
The company began to receive asbestos-related lawsuits in the middle of the 1970s and eventually was overwhelmed with costs. They filed for bankruptcy in 2002.
Shook & Fletcher Acoustical Insulation
Shook & Fletcher Adhesives
Shook & Fletcher Banding Seals
Shook & Fletcher Ceramics
Shook & Fletcher Ceramic Fibers
Shook & Fletcher Coatings
Shook & Fletcher Cryogenic Wool
Shook & Fletcher Curtain Wall Insulation
Shook & Fletcher Fabrication Equipment
Shook & Fletcher Fibers
Shook & Fletcher Fiberglass
Shook & Fletcher Fibrous Glass Cloth
Shook & Fletcher Insulation
Shook & Fletcher Insulating Cement
Shook & Fletcher Mineral Fiber Pipe
Shook & Fletcher Plastic Jacketing
Shook & Fletcher Phenolic Foam
Shook & Fletcher Seals
Shook & Fletcher Tapes
Shook & Fletcher Textiles
Shook & Fletcher Thermal Insulation
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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.
Shook And Fletcher Asbestos Settlement 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 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 can usually tell within a few minutes whether we can help you, and if we cannot 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
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