Join us in this eye-opening episode of AC.Law's "Asbestos Trusts" series as we uncover the history of Metex Manufacturing Company, formerly known as Kentile Flooring, founded in 1898. Kentile made its mark as a prominent flooring manufacturer, producing a wide range of tiles and flooring materials, including vinyl, cork, rubber, and more. However, the company's legacy is marred by its use of asbestos in its tiles, which were widely used in both commercial and residential settings.
As we delve into the video, we explore the occupational hazards faced by Kentile employees who were at risk of asbestos exposure during the manufacturing process. Homeowners who chose to install Kentile tiles themselves also faced potential exposure to asbestos fibers. The popularity of Kentile's products was attributed to their ease of installation and cleaning, making them a common choice among consumers.
Unfortunately, the removal or repair of Kentile tiles could further expose individuals to harmful asbestos fibers, leading to potential health concerns. Workers in the construction industry, especially tilers, are among those who may have encountered the company's products and faced these risks.
The video highlights that Kentile products continued to contain asbestos until the early 1980s, leading to financial burdens due to asbestos litigation. Consequently, the company filed for Chapter 11 bankruptcy in 1992. Metex Manufacturing Company emerged from that original bankruptcy filing and operated as a flooring manufacturer from 1998 until its own Chapter 11 bankruptcy filing in 2012.
In response to the liabilities arising from asbestos-related claims, the Metex Asbestos PI Trust was established in 2015, providing a channel for claimants to seek compensation. According to the trust's annual financial report, it received 3,047 claims in 2022, with a total payout of $6,126,158. Since its establishment, the trust has paid out over $121 million to claimants.
The video explains the trust's payment process, where claimants receive 7.25% of the designated amount for their injury if they meet the criteria for compensation. To provide further insight, the video showcases the Scheduled Payment Values on the screen.
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).
