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Johns-Manville Corporation Trust

The Johns-Manville Corporation used to be one of the largest manufacturers of products containing asbestos in the country. In the 1980s, Johns-Manville created the Manville Personal Injury Settlement Trust as part of its bankruptcy filing. It is one of the largest asbestos trust funds today, with a current value of approximately $2.5 billion.

Nearly 1 million claims have already been filed against this trust fund by victims of asbestos exposure; however, compensation is still available. To find out if you qualify for compensation through this trust fund or to request legal assistance filing a claim, contact Bailey & Glasser, LLP for a free case consultation.

Why Is Asbestos Dangerous?

Asbestos refers to a group of six silicate minerals that are found naturally in rock and soil. Asbestos is naturally resistant to heat and corrosion. It is also durable and was once mined in abundance, making it a convenient and cost-effective additive for many consumer goods and products prior to the 1980s. Unfortunately, exposure to asbestos can cause cancer and other serious illnesses.

Asbestos started being regulated in the U.S. in the 1970s. It was not until 1987, however, that research by the International Agency for Research on Cancer confirmed that all six types of asbestos could cause cancer. Asbestos exposure can lead to illnesses such as mesothelioma and asbestosis by becoming lodged in the inner tissues of the body. Over time, these fibers and particles can cause enough irritation to result in cancer and other serious illnesses.

Johns-Manville’s History of Using Asbestos

The Johns-Manville Corporation was founded in the late 1800s with the merging of H.W. Johns Manufacturing Company and Manville Covering Company. H.W. Johns manufactured fire-resistant roofing materials using asbestos, while Manville Covering made asbestos insulation. From the very beginning of the partnership, Johns-Manville relied on asbestos for all of its products. Eventually, the company started producing asbestos-based cements, packing materials, acoustic products, automotive sheet backing and other popular asbestos products in addition to roofing materials and insulation. It also distributed raw asbestos.

Johns-Manville was aware of the potential health risks associated with asbestos at least as far back as the 1920s, when 11 workers settled for $30,000 in an asbestos exposure claim against the company. Yet it still took steps to cover up the risks of this mineral. For example, in 1933, an employee advised a Johns-Manville company physician not to post warning signs informing workers of asbestos-related health risks. The company also adopted policies to keep workers in the dark about the known risks associated with asbestos exposure.

What Is the Johns-Manville Corporation Trust?

In the 1970s, thousands of people began noticing the effects of working with asbestos materials and filed lawsuits against Johns-Manville. By 1982, an unprecedented number of lawsuits had been filed against the corporation for illnesses and health effects caused by asbestos exposure. These lawsuits were brought by employees of the company as well as people living in surrounding communities who had been affected by industrial pollution and asbestos contamination from the company’s manufacturing plant. The high number of lawsuits forced Johns-Manville to declare bankruptcy.

The Manville Personal Injury Settlement Trust was an outcome of the company’s bankruptcy filing. This is an asbestos trust fund, meaning its funds are reserved solely for those who have been injured from asbestos exposure by products manufactured by the Johns-Manville Corporation. The fund originally had about $3 billion when it was created, making it one of the largest asbestos trust funds in the nation. The Johns-Manville Trust is one of many similar types of trust funds set up by major asbestos product manufacturers to compensate victims of asbestos exposure.

Do You Qualify to File an Asbestos Trust Fund Claim?

The people who are most at risk of developing mesothelioma from Johns-Manville’s products are workers; both employees of the company back when it used to rely on asbestos for most of its products as well as workers today who may encounter old asbestos-containing Johns-Manville materials on the job. It often takes many years for victims to discover illnesses connected to asbestos exposure. For example, the average latency period for mesothelioma is 20-60+ years.

High-risk occupations for asbestos exposure include:

  • Construction workers
  • Contractors and laborers
  • Renovators and demolition workers
  • HVAC technicians
  • Electricians
  • Pipefitters
  • Insulation installers
  • Shipbuilders and shipyard workers
  • Manufacturing and power plant workers
  • Military members
  • Automotive mechanics
  • Firefighters

In addition, family members and anyone living with workers who are around asbestos could be at risk of secondhand exposure. This is when workers carry asbestos particles home with them on their clothing, hair or gear and expose others. Finally, residents living in buildings that were constructed with asbestos products could be at risk of harmful asbestos exposure, especially during repairs or renovations that send asbestos dust into the air.

How Much Does a Johns-Manville Trust Fund Claim Pay?

If you are eligible to file a claim with the Manville Personal Injury Settlement Trust, the amount of financial compensation that you could potentially receive will depend on the facts of your case. The factors that go into calculating trust fund claim values include the claimant’s diagnosis, prognosis for the future, long-term symptoms or health effects, and quality of life. An attorney can help you estimate how much your case could be worth.

Claimants must also contend with rules and procedures put in place by the trust. This includes different schedules that determine how much a claim is worth according to the severity of the victim’s diagnosis. It also includes a payment percentage, which is used by all asbestos trust funds. Currently, the Johns-Manville Trust pays 5.1 percent of the value of a claim. Limits exist on how much is available through a trust fund claim to ensure funds continue to be available for future victims of asbestos exposure.

Contact Bailey & Glasser, LLP for Legal Assistance

If you or someone you love has been diagnosed with mesothelioma or another disease connected to exposure to asbestos and believe the Johns-Manville Corporation is to blame, contact Bailey & Glasser, LLP to discuss your legal options. Our attorneys can help you with an asbestos trust fund claim against Johns-Manville using years of experience in this practice area. We accept cases around the nation. Request a free case consultation today to learn more about your rights. Contact us online for a prompt callback or call (866) 871-7971 to speak to someone directly.