GAF Corporation made construction products with asbestos from the 1920s until the 1980s. Asbestos lawsuits led the company to bankruptcy. It then had to set up a trust fund with $770 million for future claims.
Written by D. Carl Money | Scientifically Reviewed by Sean Fitzgerald, PG | Edited by Amy Edel | Last Update: January 7, 2026
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G-I Holdings Inc., the parent company of GAF Corporation, filed for Chapter 11 bankruptcy protection on January 5, 2001, facing approximately 150,000 pending asbestos lawsuits. The company emerged from bankruptcy on November 12, 2009, having established the G-I Holdings Inc. Asbestos Personal Injury Settlement Trust with an initial funding of $770 million. As of 2022, the most recent year data is available, more than $298 million remained in the trust.
Asbestos Trust Fund Updates
GAF Corporation became G-I Holdings’ subsidiary following a leveraged buyout and corporate restructuring in the late 1980s and 1990s. In 2000, GAF merged into G-I Holdings, making G-I Holdings the legal successor to all of GAF’s asbestos liabilities. GAF was the 27th company in the U.S. to file Chapter 11 over asbestos claims. People exposed to asbestos from GAF products who develop asbestos-related diseases are eligible to file claims with the asbestos trust fund.
If you or a loved one developed mesothelioma from GAF products containing asbestos, you may qualify to file a claim with the asbestos trust fund to seek compensation. Funds from The G-I Holdings Inc. Asbestos Personal Injury Settlement Trust can help cover medical bills and compensate for lost income.
You’ll need to file a claim before the trust’s own deadline, called the statute of limitations. This is a time limit on how long you have to submit all of your paperwork, but a mesothelioma lawyer can help ensure all your documentation is properly submitted on time and correctly.
Our Patient Advocates can connect you with the best lawyers for your claim. They can help you find an expert in cases like yours who will assess if there are options beyond your trust fund claim, such as workers’ compensation or a mesothelioma lawsuit against other companies that may also be responsible. In addition to matching you to the right asbestos law firm for you and your family, our Patient Advocate team can connect you with top specialists, extensive resources and support groups.
You shouldn’t have to choose between getting care and paying for it. Get the financial support you deserve.
See My OptionsAs of 2000, the latest available data, more than 70,000 asbestos lawsuits had been filed against GAF. People diagnosed with illnesses connected to GAF’s products filed personal injury lawsuits and surviving families filed wrongful death lawsuits.
These lawsuits claimed product liability. They focused on negligent exposure and failure to warn about the dangers of asbestos. By 2001, GAF had settled more than 500,000 claims costing the company approximately $1.5 billion.
GAF Mesothelioma Settlements & Verdicts
GAF was one of the major asbestos companies dealing with mesothelioma claims in the mid-1980s. They helped create the Asbestos Claims Facility. It was set up to evaluate, settle and defend claims about asbestos exposure. The claims facility fell apart over fights between the member companies and insurers.
An undisclosed settlement between GAF and 8,500 Maryland workers was reached in 1993. They sued the company, claiming they got sick from working with GAF’s products. Most of the workers were exposed to GAF’s products at Bethlehem Steel Corporation’s Sparrows Point steel mill.
GAF’s connection to asbestos and involvement in mesothelioma claims traces back to its purchase of Ruberoid Company in the 1960s. The acquisition included an array of asbestos products and an asbestos mine in Vermont.
The asbestos mine caused serious health issues, which came into the public eye in 1973. A study found it would take $1 million to upgrade the mining operations for safety.
By 1975, GAF ceased operations at the mine. That year, mine workers raised $2 million to buy the mine from GAF and named their business Vermont Asbestos Group. Asbestos mining continued at the site until 1993.
The company’s roofing materials, including felts, had 60% chrysotile asbestos, as shown in legal documents. Paints used as coatings on roofs contained 10% to 20% chrysotile asbestos. At the time, companies used asbestos for its resistance to heat and corrosion.
GAF’s Asbestos Products
GAF’s asbestos products were used in a variety of industries. The U.S. Navy used various GAF products. These include Calsilite block insulation and pipe covering, made for marine use. Oil refineries and factories used Imperial insulation, made to handle high temperatures.
Asbestos exposure was highest among miners at GAF’s Vermont mine. They developed diseases like mesothelioma, lung cancer and asbestosis. Employees at GAF and Ruberoid manufacturing facilities also faced high levels of asbestos. Workers who installed or removed GAF’s asbestos products were also exposed.
Workers at Higher Risk
Workers in many industries used GAF Corporation’s asbestos products. This is especially true for those in roofing and siding. Construction workers are among the most vulnerable to exposure of these products. Family members of workers exposed to GAF products faced secondary exposure.
Remediation of GAF properties and facilities can present an exposure risk today. In 2024, old GAF buildings required remediation before a residential development project could begin.
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Asbestos.com. (2026, January 13). General Aniline and Film Corporation (GAF) Trust Fund and Lawsuits. Retrieved January 15, 2026, from https://www.asbestos.com/companies/gaf-corporation/
"General Aniline and Film Corporation (GAF) Trust Fund and Lawsuits." Asbestos.com, 13 Jan 2026, https://www.asbestos.com/companies/gaf-corporation/.
Asbestos.com. "General Aniline and Film Corporation (GAF) Trust Fund and Lawsuits." Last modified January 13, 2026. https://www.asbestos.com/companies/gaf-corporation/.
An occupational scientist or another expert who specializes in occupational hazards reviewed the content on this page to ensure it meets current scientific standards and accuracy.
Sean Fitzgerald, PG, is a research geologist specializing in asbestos environmental studies.
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