Owens Corning Asbestos Trust Fund: Claim Types, Payments and Legal Options

The Owens Corning Fibreboard Asbestos Personal Injury Trust serves as a resolution mechanism for valid asbestos-related injury claims following the bankruptcy of Owens Corning and its subsidiary, Fibreboard. This article offers insights into the Trust's core purpose, claim submission, and resolution process.

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 Asbestos Trust

Established after Owens Corning and its subsidiary Fibreboard's bankruptcy, the Owens Corning Fibreboard Asbestos Personal Injury Trust plays a pivotal role in addressing and settling asbestos-related personal injury claims. This guide aims to shed light on the fundamental operations of the Trust and assist potential claimants in navigating the process.

Owens Corning Asbestos Trust Purpose and Functions

The Trust's primary mandate revolves around addressing and disbursing payments for legitimate asbestos-related personal injury claims against the mentioned defendants and any associated protected parties. This is done in strict adherence to the Trust Distribution Procedures (TDP), which have been sanctioned by the bankruptcy court.

The inception of the Trust underscores the commitment of Owens Corning and Fibreboard to transparently and justly address all asbestos-related claims that fall under their legal jurisdiction.

Owens Corning Asbestos Trust Claim Submission and Resolution

Potential claimants began submitting their claims to the Owens Corning Fibreboard Asbestos Personal Injury Trust on August 27, 2007, starting at 10:00 A.M. EST.

Owens Corning Asbestos Trust Current Payment by Claim Type

Current payment amounts for each type of claim:

Mesothelioma Claims:

Expedited Review: $215,000
Individual Review: $650,000
Ratio*: 5.9%

Lung Cancer Claims:

Expedited Review: $40,000
Individual Review: $150,000
Ratio*: 5.9%

* 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 Asbestos Products

Ceiling Boards
Finishing Cement
Insulating Cement
Kaylo 10 Block Insulation
Kaylo 20 Block Insulation
Kaylo Block Insulation
Kaylo Heat Insulation
Kaylo Insulation
Kaylo Pipe Covering
Kaylo Pipe Insulation
One Cote Cement
Ready Mix
Type II Mastic

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.