Over the years, millions of people have been diagnosed with asbestos-related diseases, including asbestosis, mesothelioma and lung cancer. These illnesses can change a victim’s life forever. Harmful exposure to asbestos often occurs from contact with consumer products that contain asbestos as a primary ingredient. This includes many products manufactured by Owens Corning, a company that focuses on the production of insulation and roofing materials.
If you or a loved one has been injured by asbestos present in a product from Owens Corning, you may be eligible for financial compensation from the Owens Corning Fibreboard Subfund Trust. Contact an attorney at Bailey & Glasser, LLP for a free case consultation to learn more.
The History of Owens Corning Fibreboard
Being exposed to asbestos particles even once could potentially lead to mesothelioma and other asbestos-related illnesses, according to the National Cancer Institute. Exposure incidents often stem from contact with products and materials that contain asbestos, especially if they get damaged or disturbed. A renovation project involving an older building, for example, could send asbestos dust into the air that affects those working or living in or near the structure.
One of the major manufacturers of asbestos-containing products in the 1900s was Owens Corning. Owens Corning began when two glasswork companies – Corning Glass and Owens-Illinois – merged and became the largest fiberglass manufacturer in the world. Owens Corning was the first company to manufacture fiberglass insulation. Since asbestos was cheap, easy to obtain, and naturally resistant to heat and fire, it became the perfect material to incorporate into Owens Corning’s insulation products.
In 1997, Owens Corning acquired Fibreboard Corp, a manufacturer of flooring and industrial insulation that also contained asbestos. Owens Corning faced asbestos lawsuits from consumers beginning around the 1980s, and litigation only grew with the acquisition of Fibreboard Corp. In a 1999 court case, evidence was presented showing that Owens Corning had knowingly concealed the health risks of asbestos from its employees and consumers, including advertising its asbestos-containing products as non-toxic.
Asbestos Products Manufactured by Owens Corning Fibreboard
Insulation was the main type of product manufactured and distributed by Owens Corning. The company’s groundbreaking insulation products – known for their pink color – were very popular. This insulation was installed in tens of thousands of homes and commercial properties. Owens Corning continued to use asbestos in its insulation products until around the mid-1970s.
Some of the most well-known Owens Corning Fibreboard products are:
- Fiberglass ceiling tiles
- Fiberglass ready mix cement
- Kaylo cold storage systems
- Kaylo duct insulation
- Kaylo equipment insulation
- Kaylo heat-insulating block
- Kaylo insulating roof tiles
- Kaylo pipe insulation (wrap-around)
- OCF mastic adhesives
- One Cote insulating cement powder
Kaylo asbestos-containing insulation products were used in a variety of industries and applications, including the military, shipbuilding and construction. Owens Corning Fibreboard put thousands of people at risk of developing mesothelioma and suffering other injuries from exposure to asbestos through its products. If you or a loved one worked for Owens Corning Fibreboard or lived in a home that contained its products, you may be entitled to financial compensation.
What Is the Owens Corning Fibreboard Subfund Trust?
Asbestos trust funds were created as a way to compensate victims of asbestos exposure even after the companies responsible for manufacturing the asbestos products went bankrupt. They have protected funds to pay people who were injured due to asbestos in the bankrupt company’s products.
After facing numerous lawsuits and major financial losses, Owens Corning was forced to file for Chapter 11 bankruptcy in 2000. By 2006, the company had created its asbestos trust funds as part of its bankruptcy restructuring. It created two different trusts and two subfunds, one of which was the Fibreboard Subfund. This trust was endowed with $3.4 billion to pay valid asbestos-related claims. As of the latest notice posted by the Fibreboard Sub-Account, the current payment percentage is 4.4 percent.
This means the trust will pay 4.4 percent of the value of a claim. Payment percentages help ensure that future asbestos victims can receive financial compensation. Any qualifying person who can prove asbestos exposure from one of Owens Corning Fibreboard’s products and a related illness could receive a payout from this subfund. The financial compensation available may cover a victim’s medical bills, lost wages, attorney’s fees, funeral and burial costs, and more.
Asbestos, Consumer Products and Mesothelioma
Asbestos refers to six silicate minerals that are naturally found in certain types of rock and soil. For many years – mainly in the 1800s and 1900s – asbestos was used as a staple ingredient in the manufacture of a variety of consumer products. Asbestos was especially popular in construction materials, building materials, and equipment and machinery due to its resistance to heat and corrosion. This includes roofing shingles, ceiling tiles, floor tiles, siding, cement, insulation, drywall, piping and ductwork.
In the 1970s, the Environmental Protection Agency began to pass federal regulations against the use of asbestos in consumer goods. By 1987, the International Agency for Research on Cancer had confirmed the carcinogenic (cancer-causing) properties of all six types of asbestos. Research found that exposure to asbestos could result in asbestos fibers becoming lodged inside the body. Over the course of many years (an average of 20-60+ years), the particles can cause irritation and scar tissue that can result in cancer cells.
Mesothelioma is one of the deadliest diseases associated with exposure to asbestos. It is a terminal type of cancer that originates in the protective membrane that surrounds many of the organs, known as the mesothelium. The average life expectancy for someone who is diagnosed with mesothelioma is 12 to 21 months, with treatment, according to research published in the National Library of Medicine. Sadly, there is no known cure for mesothelioma.
Speak to an Attorney About Your Legal Options Today
At Bailey & Glasser, LLP, our asbestos attorneys can review your case to determine your asbestos trust fund eligibility. If we believe you have the right to pursue compensation from the Fibreboard Subfund, we can help you choose the right type of claim. We can file the paperwork to request either an expedited review or individual review of your claim. Each type has different pros and cons.
Our attorneys have years of experience handling complicated asbestos and mesothelioma claims. We can assist you with the trust fund claims process from start to finish. Contact us at (866) 871-7971 today for a free case evaluation.