In this episode of Asbestos Trusts, we delve into the story of Plant Insulation Company, an insulation contracting and distribution company founded in 1948. While insulation work itself may not necessarily cause asbestos exposure, Plant Insulation used asbestos-containing insulation, which led to serious health consequences for many.
The company had a significant contract with industry giant Fibreboard Company, selling popular asbestos-containing thermal insulation and pipe covering products such as CalTemp and PABCO. Employees also worked with other types of asbestos insulation, including wallboard, loose fill insulation, and spray-on insulation.
Even after Fibreboard stopped using asbestos in the early 1970s, Plant Insulation employees continued to work at locations where they removed or repaired pre-existing asbestos-containing materials.
Documents filed by the company indicate over 200 job sites where workers may have been exposed to asbestos products installed or sold by Plant Insulation Company. In 2009, the company filed for Chapter 11 bankruptcy, citing significant debt.
The PAST (Plant Asbestos Settlement Trust) was established in 2013 with approximately $130 million in funding. According to the trust's 2022 annual financial report, it has paid $6,225,254 in compensation for claims. Out of the 293 claims filed with the trust in 2022, 193 were settled.
Each trust evaluates claims differently and assigns valuations to various asbestos injuries. The payment percentage, currently set at 16.5%, is applied to the value determined by the trust to calculate the compensation amount.
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).
