United States Mineral 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.
United States Mineral Asbestos Trust Fund
Facts:
Founded: 1875
Head Quarters: Stanhope, New Jersey
Turn out: Fireproofing Material
Operating status: Still Currently Working
Asbestos Trust: Yes
Trust began: 2005
Trust Amount: $8 million
Asbestos Trust Fund
After United States Mineral Products filed for bankruptcy in 2001, they were required to begin a trust fund for asbestos victims. In 2005 the United States Mineral Products Company Personal Injury Asbestos trust was formed with $8 Million. The trust fund was made so that the mesothelioma victims would receive compensation while the company continued operating. Currently, the payment percentage for claims that are successful is 15%.
Asbestos Litigation
The consequences of United States Mineral Products using asbestos in their products began to catch up to them. In the 1980s, they began to accumulate asbestos-related lawsuits and along with it high financial costs. By 2001, the company had received over 220,000 claims and filed for Chapter 11 Bankruptcy in July.
A portion of their claims originated from their use of products containing asbestos utilized in the World Trade Center. When the World Trade Center was being built workers were exposed to the material, and when it, unfortunately, collapsed after the 9/11 terrorist attacks first responders and individuals responsible for cleanup were exposed. One sheet metal worker was exposed to asbestos after working with asbestos products during the construction of the World Trade Center. He was diagnosed with colon cancer due to his exposure in 1983 and passed away six months after his diagnosis at the age of forty. His wife, Arlene M. Maiorana, was awarded $3.31 million by a jury.
Occupational Exposure
Since products containing asbestos were highly prevalent in USMP, 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: cement masons, architects, fire proofers, factory workers, insulators, construction workers, inspectors, sheet metal workers, and engineers.
United States Mineral Products use of asbestos was used in various locations where individuals could have been exposed, including public gathering spots, hospitals, sporting venues, schools, and stores. Notable location names included Florida’s Disney World, Boston University Nursing School, and New York’s Kennedy Airport.
History of Asbestos Use
The United States Mineral Products, also known as USMP, was founded in New Jersey in 1875. Initially, the company manufactured mineral wool but as the company expanded, it rebranded to produce various products.
The company manufactured products across the United States, including in New Jersey, California, and Texas. They created fire-proofing materials for defense and construction purposes. Starting in 1954, the company added asbestos to its products and continued to use it until the beginning of the 1970s.
Companies often add asbestos to products 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. United States Mineral’s products were using asbestos in their products above the legal limit amount. Employees working for the company 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.
United States Mineral Products were marketed with names based on where the materials were sold. A common brand used in the North American region was CAFCO. The name is still used today.
Asbestos Products
United States Mineral CAFCO Blaze Shield Fireproofing
United States Mineral CAFCO Blaze Shield Type D
United States Mineral CAFCO Comico All-Purpose Insulating Cement
United States Mineral CAFCO Comico Mono-Ply Insulating Cement
United States Mineral CAFCO Fireproofing
United States Mineral CAFCO Heat Shield Fireproofing
United States Mineral CAFCO Patching Fiber
United States Mineral CAFCO Power Shield Fireproofing
United States Mineral CAFCO Sound-Shield
United States Mineral CAFCO Spray
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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 United States Mineral 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.
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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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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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