In this eye-opening episode of our Asbestos Trusts series, we shine a light on the historical journey of Harbison-Walker Refractories Company, formerly known as the Star Fire Brick Company, founded in 1865. Join us as we trace the company's transformation over the years, from producing clay bricks for large furnaces to becoming a renowned manufacturer of refractory materials in high demand during the rapid industrialization of the United States.
The 1950s marked a significant turning point for Harbison-Walker as it started incorporating asbestos fibers into its products, including block and cement by 1964. These asbestos-containing materials found widespread usage in various industries, from construction and mills to power plants and even some U.S. Navy ships.
In 1967, Harbison-Walker underwent a change in ownership when it was acquired by Dresser Industries, Inc. (now known as DII Industries). Subsequently, Harbison-Walker became affiliated with another asbestos corporation, the Halliburton Company, three decades later. It continued to use asbestos in its products until the 1970s.
In 2015, the company rebranded itself as HarbisonWalker International, but despite its legacy and achievements, the burden of handling asbestos injury claims became overwhelming. As a result, Harbison-Walker filed for Chapter 11 bankruptcy on February 14, 2002. However, this filing did not include a reorganization plan that establishes an asbestos bankruptcy trust.
On December 6, 2003, DII Industries, representing Harbison-Walker and several subsidiaries (like Halliburton), filed for Chapter 11 bankruptcy. Consequently, the DII Industries Asbestos Personal Injury Trust was established on January 20, 2005, generously funded with over $2.5 billion.
The current payment percentage from the Trust stands at an impressive 60%. This means qualifying claimants will receive 60% of the "scheduled payment value" designated for their specific injury and claim, a significantly higher portion compared to some other trusts.
In 2022, the Trust settled a substantial number of 2,615 Harbison-Walker claims, as reported in its annual financial report. An encouraging $61.7 million was disbursed in Harbison-Walker claims during the same year, helping asbestos injury victims on their path to recovery.
We’ve helped thousands of people receive the compensation they deserve for their asbestos injuries. Let us help you. You can contact asbestos attorney Justinian C. Lane at Asbestos Claims Law via his website at http://www.AsbestosClaims.law.
Email directly at help@asbestosclaims.law.
Or call anytime at (833) 4-ASBESTOS (427-2378).
