If you worked for Celotex Corporation at any time before the late 1980s and were diagnosed with mesothelioma or another asbestos-related illness, you may be eligible for compensation from the Celotex Asbestos Settlement Trust. At Bailey & Glasser, LLP, our attorneys help clients recover the financial compensation they deserve from asbestos trust funds and other sources, including personal injury lawsuits. Contact us today for a free case evaluation.
About Asbestos and the Risks of Exposure
Asbestos was widely used by manufacturing companies in the 1900s despite known health risks. Any level or amount of exposure to asbestos can cause cancer and other adverse health effects, according to the National Cancer Institute. All six types of asbestos were confirmed as carcinogenic by the International Agency for Research on Cancer in 1987. Mesothelioma is the primary type of cancer associated with asbestos exposure.
If asbestos particles become airborne, they can be inhaled or ingested by people in the vicinity and become lodged in the inner tissues of the victim’s body; mainly, the mesothelium. This is the protective lining that surrounds many internal organs, including the lungs, heart and stomach. Over the course of many years (the average latency period is about 20-60+ years), the particles can cause irritation, inflammation and scarring that may become cancerous or cause various other illnesses.
Celotex’s History of Using Asbestos in its Building Products
Thousands of victims were exposed to asbestos by Celotex Corporation through the products it manufactured and distributed. Celotex was founded in 1921 as a manufacturer of building materials, including roofing and insulation products. Throughout its operation, Celotex went through several mergers and acquisitions, including acquiring Carey Canada Inc. as a subsidiary. This acquisition led to a subsequent increase in the use of asbestos by Celotex, as Carey Canada operated an asbestos mine until 1986.
Asbestos was added to many of Celotex’s building products and materials that were used for both residential and commercial applications, including:
- Acoustic tiles
- Asphalt roof rolls
- Carey 7-M asbestos shorts
- Carey block insulation
- Carey firefoil board and panels
- Carey industrial A/C boards
- Careyflex board
- Careytemp masonry block insulation
- Celo-Rok gypsum products
- Celo-Siding
- Cement
- Cemesto structural insulation
- Fiberboard insulation
- Flexcell joint filler
- Pipe coverings
- Roofing materials and siding
- Sealing materials
- Shingles
- Wallboards
The most at-risk individuals due to Celotex’s asbestos products and operations were factory workers, manufacturing plant workers, asbestos miners, and construction workers who installed and removed asbestos-containing building materials created by Celotex. In addition, family members who lived with the worker were at risk of secondary asbestos exposure from particles that were brought home on the worker’s clothes, hair and work equipment.
What Is the Celotex Asbestos Settlement Trust?
Celotex and Carey Canada faced litigation from hundreds of thousands of victims in the 1980s and 1990s for harmful exposure to asbestos. Court documents have shown that both companies knew of the risks connected to asbestos to their workers since about 1935, yet continued using asbestos in their products until the mid-1980s. In 1990, Celotex was forced to file for Chapter 11 bankruptcy due to the number of asbestos lawsuits filed against the corporation.
As part of its bankruptcy restructuring, the Celotex Asbestos Settlement Trust was created in 1998. This trust was initially funded with $1.5 billion in assets. This money is reserved for claimants who can prove that they have been diagnosed with an asbestos-related disease and were exposed to asbestos-containing products from Celotex or Carey Canada. This is one of many asbestos trust funds that were established by companies facing bankruptcy to continue paying future victims of asbestos exposure.
A successful asbestos trust fund claim could result in financial compensation being granted to the victim or victim’s family for losses related to mesothelioma, lung cancer or asbestosis – such as past and future medical expenses, lost wages, and death benefits. As of June 2023, claims with the Celotex Asbestos Trust are paid at a rate of 7 percent of their value, which is considered standard. Asbestos trust funds utilize payment percentages to ensure funds remain available for future victims.
How to File an Asbestos Trust Fund Claim With Celotex
There are two types of Celotex Asbestos Settlement Trust claims: an individual review claim (IRC) and discounted cash payment claim (DCP). Both have different advantages. The DCP process is much shorter, while the IRC option takes longer but could result in greater financial compensation. A mesothelioma attorney can review your situation and recommend the best type of trust fund claim for you and your family.
You or your lawyer will need to fill out and submit the appropriate Claim Form based on the type of claim you wish to file. Supporting documents must be sent along with the Claim Form, including medical documentation proving an asbestos-related diagnosis and records establishing the claimant’s exposure to asbestos products through Celotex or Carey Canada. All documents can be filed electronically or mailed to: Celotex Asbestos Settlement Trust, P.O. Box 1036, Wilmington, DE 19899-1036.
Is There a Time Limit for Filing a Claim With the Trust?
Celotex Asbestos Settlement Trust claims must be filed before the expiration of the relevant statute of limitations. The trust has declared the date that the statute of limitations started running is February 1, 1998. Claimants who were diagnosed with an asbestos-related disease before this date will have the full limitations period as set by his or her jurisdiction. For claimants who were diagnosed after this date, the applicable statute of limitations will run from the date of diagnosis.
Claims must meet either the applicable deadline assigned by the federal or state statute of limitations (or statute of repose) that was in effect at the time of the filing of a personal injury lawsuit or the filing of a claim with the asbestos trust. Filing deadlines can be tolled (paused) in certain circumstances. The best way to ensure you meet your filing deadline is to contact an attorney as soon as possible about a potential claim.
Request a Free Consultation With Our Celotex Asbestos Settlement Trust Attorneys
Funds are still available to asbestos exposure victims from the Celotex Asbestos Settlement Trust. To find out if you are entitled to a portion of these funds, contact Bailey & Glasser, LLP for a free case consultation. Our asbestos attorneys will carefully review your claim, explain your legal rights and options, and guide you and your family through the financial recovery process with tailored legal advice. We care about our clients and can offer important legal resources during this difficult time. Call (866) 871-7971 to contact our law firm today.
