Garlock Asbestos Trust Fund: Claim Types, Payments and Legal Options

Learn about the Garlock Settlement Facility, understand its foundation, purpose, and the systematic procedure for asbestos claim resolution, ensuring fair and equivalent compensation for affected parties.

Table of Contents
Introduction
Trust Purpose and Functions
Claim Submission and Resolution
Current Payment by Claim Types
Asbestos Products
Legal Options & Free Legal Consultation

Introduction to Garlock Asbestos Trust

The Garlock Settlement Facility, often referred to as "the Trust," originated from the reorganized plan of Garlock Sealing Technologies LLC and its affiliates, combined with OldCo, LLC, which succeeded Coltec Industries Inc. This formation aimed to address and settle asbestos-related claims associated with products from either Garlock or Coltec.

Garlock Asbestos Trust Purpose and Functions

The Trust's primary objective is to resolve, in a just and balanced manner, all asbestos-related claims due to exposure from products affiliated with Garlock or Coltec. To achieve this, the Claims Resolution Procedures (CRP) were introduced. Based on the CRP, the Trust's mission is to ensure all claimants receive their rightful share of the claims' value, working on an unbiased, first-come-first-serve strategy.

In its continuous quest for transparency and efficiency, the Trust recently updated the Claims Resolution Procedures, leading to the release of the Second Amended and Restated CRP, which claimants can easily access on the Trust's online resource page. It's essential to note that the limitation periods, including specific claims' filing deadlines, have been revised, with some claims expiring on April 1, 2022.

Garlock Asbestos Trust Claim Submission and Resolution

For individuals seeking compensation due to asbestos personal injuries, the Trust has a structured process in place. Prospective claimants are required to provide a filled-out Proof of Claim Form to initiate their claim with the Trust. Once submitted, the Trust reviews each claim, ensuring a thorough evaluation before reaching a resolution.

Garlock Asbestos Trust Current Payment by Claim Type

Current payment amounts for each type of claim:

Mesothelioma Claims:

Expedited Review: $37,300
Individual Review: $298,200
Ratio*: 100.0%

Lung Cancer Claims:

Expedited Review: $9,325
Individual Review: $74,550
Ratio*: 100.0%

* The trust funds ensure a fixed percentage of compensation known as a "ratio", which reserves funds for potential future victims based on the claim's worth.

Garlock Asbestos Products

Asbestos Packing
Asbestos Tape
Chemiseal Jacketed Gaskets
Compressed Asbestos Sheet
Garfite 200 Graphite Filament Packing
Insulation Tape
Lattice Braid Packings
Plastallic Packings
Plasti-Pak Packing
Pre-Cut Gasketing
Rope
Spiral Pasti-Thread Seal Tape
Spiral Wound Gaskets

Asbestos Law Firms Near You

National law firms, with their experience in handling cases and trust fund claims across the country, can be a smart choice. Opting for a nationwide firm means you'll have a team of lawyers who know the ins and outs of asbestos cases in every state. They'll figure out the best place to file your claim and make sure it's done within the legal deadlines, all to get you the maximum possible compensation.