Celotex
Celotex was a Delaware-based company that reincorporated in 1964. The company’s primary business was to make and distribute building products that were used both residentially and commercially. One of its subsidiaries was a mining company based in Canada that mined and processed asbestos fiber for Celotex products. It restructured in 1967 and became part of Rapid American.
Celotex and Asbestos
Celotex, when it was still Celotex, produced insulation that was used for industrial equipment, boilers and pipes. Asbestos was a common material used in insulation because of its ability to withstand fire and extreme temperatures. Celotex-related exposure to asbestos was multi-faceted. First were the miners. Because Celotex owned its own asbestos mine, it employed dozens (possibly hundreds) of workers who spent their days breathing in asbestos fibers. Exposure in the mine was especially toxic because a mine is a confined space.
Next were residents of the town near the mine. Studies have shown that people who lived near asbestos mines faced dangerous levels of exposure as well. In addition to mine-related exposure, Celotex employees were exposed to asbestos as they manufactured company products. It is unclear how much asbestos was used in Celotex products, but company has defended itself against lawsuits, often claiming that levels of asbestos were not high enough in many of its products to place people at risk. However, many health organizations have stated there is no safe level of asbestos exposure. In some cases, people develop mesothelioma cancer after only being exposed a few times.
The fourth and final group of people at risk of asbestos exposure includes those who installed or otherwise handled Celotex insulation products. Construction workers and repairmen are especially at risk because they were more likely to handle either Celotex insulation or the equipment it is designed to insulate.
Celotex and Asbestos Litigation
Despite the fact that Celotex and its mining subsidiary both defended themselves against lawsuits, asbestos-related liabilities mounted quickly. Celotex filed for Chapter 11 bankruptcy in October, 1990. The company’s reorganization plan was approved in 1996 and included the creation of the Asbestos Settlement Trust. From that point forward, Celotex was relieved of all current and future asbestos-related liability, having transferred it all to the trust.
The trust was formally founded in 1998 and took on asbestos claims for both Celotex and its mining company. The Asbestos Settlement Trust owned 100 percent of Celotex until its wallboard and ceiling interests were bought by BPB. The rest of the company, however, remains with the trust.
Individuals who file claims with the trust have two options, DCP and IRC, from which to choose. DCP claims receive expedited processing, which means a decision regarding the claim’s legitimacy is reached sooner. However, every approved DCP claim receives the same amount of money, regardless of the claimant’s degree of exposure or health condition. IRC claims do not have fixed payments, but they take longer to process. Monetary awards are made in two payments – one is issued immediately and the second is issued two years later.
If you were exposed to dangerous levels of asbestos because of a Celotex product, but you have not been diagnosed with an asbestos-related disease, you have the option of filing a “deferred claim” that can be reviewed in the event that you become ill. If you have already been diagnosed with mesothelioma or another asbestos-related disease, an experienced mesothelioma lawyer can advise you on filing a claim with the Celotex trust.
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© 2012 The Mesothelioma Center |
Last Modified Thursday, February 9th, 2012 | Disclaimer | Privacy Policy |
The information provided by The Mesothelioma Center is not a substitute for professional medical advice, diagnosis or treatment.
Sponsored by a law firm concentrating in asbestos litigation, The Peterson Firm, LLP with offices at 1350 Connecticut Ave, NW, Fifth Floor, Washington DC 20036.
