Yarway Asbestos Personal Injury Trust
Asbestos Trust Funds Claims and Mesothelioma
Yarway Corporation, known as the Simplex Engineering Company until 1969, was founded by Robert Yarnall and Bernard Waring in 1908 in Philadelphia, PA. The company was purchased by Keystone International, Inc. in 1987 and then acquired by Tyco International Ltd. in 1997. From the 1920s all the way up to the 1980, Yarway incorporated asbestos materials into their products.
In 2013, Yarway filed for bankruptcy protection trust fund for pending and future asbestos claims against them. Their trust officially formed in 2015 and was initially funded with $325 million.
10,000 asbestos and mesothelioma lawsuits were reported from 2007-2012 totaling upwards of $125 Million.
Yarway Corporation Trust Fund and Settlements
The first wrongful death exposure lawsuits by was settled against Yarway in 1991. The cost of litigation led the company to file for bankruptcy in 2013 and Yarway Corporation create an asbestos trust fund in 2015 to compensate victims diagnosed with mesothelioma and other asbestos-related diseases. Those mainly exposed to asbestos were pipefitters, oil refinery workers, machinists, valve workers, steam workers, power plant workers, engineering technicians.
Yarway Asbestos Personal Injury Trust
Facts:
Founded: 1908
Head Quarters: Philadelphia, Pennsylvania
Turn out: Power products in the steam industry
Operating status: Still Currently Operating
Asbestos Trust: Yes
Trust began: 2015
Trust Amount: $325 million
Asbestos Trust Fund: Yarway Trust Fund
After Yarway Corporation filed for bankruptcy in 2013, they created a reorganization plan that was approved in 2014. In the summer of 2015, the company officially started the Yarway Asbestos Trust Fund, and in December of that year, they began accepting claims. Every case is evaluated based on various factors, including age, illness, and exposure. The current payment percentage for successful claims is 25%.
Asbestos Litigation
Yarway was initially named as a defendant in an asbestos-related case for the first time in 1991. After that, they began accumulating thousands of lawsuits, mostly with their asbestos use in manufacturing gaskets and packing materials. From 2007 to 2012, the company had to pay over $120 million to handle around 10,000 mesothelioma cases.
In 2013, the company had used all of the money they could get from instance policies, leaving them with no plan to handle current and future cases. They wouldn’t be able to manage the growing legal costs, so they filed for Chapter 11 bankruptcy protection.
The company began developing a reorganization plan to create a trust fund to handle claims while keeping the blame and liability separate from Tyco since they didn’t use asbestos.
Occupational Exposure
Since products containing asbestos were highly prevalent in Yarway Corporation, 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: steamfitters, shipyard workers, power plant workers, pipefitters, oil refinery workers, Navy veterans, machinists, HVAC workers, engineering technicians, and boiler men.
History of Asbestos Use
Yarway Corporation was founded by Robert Yarnell and Bernard Waring in 1908. The company was initially Simplex Engineering Company, but after seven brand changes, it officially became Yarway Corporation in 1962. The company worked in the steam power industry and manufactured power generation components, including gaskets, steam traps, and valves.
During the 1920s, asbestos became a popular mineral in high heat resistance products because it was very affordable. Yarway began to utilize the mineral in their power industry products because of its durability and price. 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. Employees working for Yarway Corporation 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.
Over time the company continued to expand and grow in popularity. It began to produce outside of the power-generation industry and branched into the pulp and paper industries. They were a commanding force in the marketplace, and in 1987, they were purchased by another manufacturer of specialty valves called Keystone International Incorporated. They bought the company for $100 million. The merger was successful, and the company was then acquired again ten years later in 1997 by Tyco International Ltd.
By the time Tyco International purchased the company, Yarway’s products had discontinued their use of asbestos since 1988. The company’s previous asbestos history would eventually catch up to them, forcing them to file for Chapter 11 bankruptcy protection.
Currently, Tyco continues to manufacture Yarway asbestos-free products today, such as valves and boiler equipment.
Yarway Corporation Products
Yarway produced steam power products such as steam traps, valves, and controls. Over time, the company also produced products for the chemical, pulp and paper industries, as well as automatic boiler skimmers.
| Cylinder Guided Expansion Joints |
| Gun-Pakt Expansion Joints |
| Wrought Steel Expansion Joints |
| Yarway (Simplex) Pipe-Joint Clamps |
| Yarway Adjustable Spray Head |
| Yarway Air Control Valve |
| Yarway Automatic Boiler Skimmer |
| Yarway Double-Tightening Valve |
| Yarway Hydraulic Valve |
| Yarway Impulse Steam Trap |
| Yarway Process Steam Trap |
| Yarway Regulator Valve |
| Yarway Seatless (Simplex) Blow-Off Valve |
| Yarway Seatless Valve |
| Yarway Series 40 Steam Trap |
| Yarway Starting and Pressure Unloader |
| Yarway Starting Pressure Unloader |
| Yarway Tandem Blow-Off Valve |
| Yarway Valves |
| Yarway-Brand Product |
U. S. Asbestos Bankruptcy Trusts Funds
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
Our Mesothelioma Patient Advocates can answer questions about trust funds, treatments, settlements and other types of Mesothelioma compensation.
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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.
Yarway Asbestos Personal Injury 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.
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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.
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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