The J.T. Thorpe Company (now Thorpe Specialty Services Corporation) was incorporated in 1954 in Texas and functioned in the refractory contracting industry. Refractory materials were made to withstand extraordinarily high heat and for this reason, they commonly contained asbestos.
J.T. Thorpe operated primarily out of Texas and Louisiana but would sometimes work in other states as well, including Mississippi and Florida.
In addition to manufacturing refractory materials, it was also engaged in the thermal insulation business and sold, installed, and fabricated insulation in different industrial locations.
As a refractory contractor, the company was responsible for installing, repairing, or removing refractory materials at facilities like oil refineries, chemical plants, shipyards, steel mills, and other factories.
J.T. Thorpe employees that worked at industrial sites – pipefitters, boilermakers, insulators, laborers, to name a few – were at risk of exposure to asbestos and the development of an asbestos related disease.
Their work would have caused them to be repeatedly exposed to dangerous asbestos fibers, whether through the removal of old refractory material or the installation or repair of new material.
It is estimated that J.T. Thorpe Company used asbestos containing products in its regular course of business through at least the 1970s.
Court filings suggest that from 1976-2002, the company faced nearly 78,000 asbestos injury claims. The claims throughout that time amounted to roughly $90 million in liability costs.
Because of this, J.T. Thorpe Company filed Chapter 11 bankruptcy on October 1, 2002. In 2004, JT Thorpe created the JT Thorpe Company Successor Trust under its Chapter 11 Plan of Reorganization.
In 2021, 1,999 claims were settled with the Trust, according to its annual financial report. The trust has paid more than 16,000 claims since its founding.
The report also details that $2,473,190 was paid out in claims in 2021, adding to a total of more than $82,473,190 that the Trust has paid since it was established. Also as of 2021, the payment percentage for claims was 23% and the trust had roughly $85.8 million remaining in funds for future payments.
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).
