Owens Corning/Fibreboard Asbestos Trust Fund: Claim Types, Payments and Legal Options
Learn about the Owens Corning Fibreboard Asbestos Personal Injury Trust, its purpose, functions, and the process of claim submission and resolution.
Introduction to Owens Corning/Fibreboard Asbestos Trust
The Owens Corning Fibreboard Asbestos Personal Injury Trust serves as a crucial avenue for addressing asbestos-related claims. Formed due to the bankruptcy of its parent entities, the Trust has been operational since October 31, 2006.
Owens Corning/Fibreboard Asbestos Trust Purpose and Functions
Owens Corning and its fully-owned subsidiary Fibreboard faced legal responsibilities concerning asbestos claims. As a consequence of this, the Trust was established. Its primary role is to ensure the rightful settlement of all valid asbestos personal injury claims against the aforementioned parties.
In carrying out its functions, the Trust strictly adheres to the Trust Distribution Procedures (TDP), which the bankruptcy court has sanctioned. Moreover, the Trust also emphasizes transparency by ensuring claimants and stakeholders understand its purpose and functioning.
Owens Corning/Fibreboard Asbestos Trust Claim Submission and Resolution
For those affected and looking to file a claim, the Owens Corning Fibreboard Asbestos Personal Injury Trust started its claim acceptance process on August 27, 2007, at 10:00 A.M. EST. Claimants need to be aware of the protocols and procedures to ensure a smooth resolution.
Owens Corning/Fibreboard Asbestos Trust Current Payment by Claim Type
Current payment amounts for each type of claim:
Mesothelioma Claims:
- Expedited Review: $135,000
- Individual Review: $450,000
- Ratio*: 4.4%
Lung Cancer Claims:
- Expedited Review: $27,000
- Individual Review: $90,000
- Ratio*: 4.4%
* 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.
Owens Corning/Fibreboard Asbestos Products
- 85% Magnesia Block, Pipe-covering and Thermal Insulation
- Aircell or Asbestos Paper Insulation
- Alumishield Roof Paint
- Asbestofelt (manufactured by a predecessor)
- Asphalt-Saturated Felts or Roll Roofing
- Caltemp (or Caltherm) Pipe Covering
- Caulking Compounds, Plastic Cements, Roof Coatings
- Colorok, Stormlap, Pabflex and Stonite Asbestos Cement Products
- FI Thermal Insulating Cement
- Flamecurb Gypsum Board
- Gaskets, Packings (manufactured by a predecessor)
- Gripdeck Floor Coating
- Gypsum Board and Lath
- Insulating Tape
- No. 127 Thermal Insulating Cement
- Pabco Pipe Covering
- Pebco Floron Floor Covering
- Plant Pipe Covering
- Prasco Pipe Covering
- Super Caltemp Pipe Covering
Owens Corning/Fibreboard Trust Fund Asbestos Exposure Calculator
National average for mesothelioma lawsuit settlements typically range from $1.1 million to $1.5 million while lung cancer settlements may range between $150,000 and $350,000. Use Asbestos Compensation Calculator for a personalized compensation estimate.
Owens Corning/Fibreboard Trust Fund Mesothelioma & Lung Cancer Compensation Calculator
Get a comprehensive mesothelioma or lung cancer compensation estimate after asbestos exposure form products related to Owens Corning/Fibreboard Asbestos Trust Fund. Follow a few quick steps to receive your personalized result in seconds.
Asbestos & Mesothelioma Law Firm 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.
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