Years Operated: 1932 - 1992
Business: Industrial refractory contractor
Asbestos Trust: Yes
Bankruptcy Status: Filed in 2002.
Amount in Trust: $153 million
Year Created: 2006
J.T. Thorpe, Inc., specialized in the supply and installation of refractory, acid resistant and fireproofing materials for various markets.
The California-based company used asbestos in the manufacturing of many products, exposing its own workforce to the dangers of asbestos.
Starting in 1976, many workers began filing claims against the company, alleging bodily harm caused by the asbestos in its industrial products.
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Besides its employees, others who regularly worked around this equipment were the most affected.
That exposure led to asbestos diseases like mesothelioma and lung cancer.
J.T. Thorpe, Inc. filed for bankruptcy under Chapter 11 on Feb. 12, 2002. The company maintained in its filing that although it installed, maintained and sold asbestos-containing insulation or refractory lining products, it never made the products.
In 2006, the company emerged from bankruptcy and created the J.T. Thorpe Settlement Trust with more than $153 million.
This trust is not to be confused with the J.T. Thorpe Company Successor Trust, which is a different bankruptcytrust involving the JT Thorpe Company, a Texas corporation, which operated refractory businesses in Texas and Louisiana.
J.T. Thorpe Inc., is not affiliated with J.T. Thorpe & Sons Inc., which is a wholly unrelated California company.
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