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.

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 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

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.