Welcome to another episode of Asbestos Trusts by AC.Law. Today, we're focusing on Plibrico, a company founded in 1914 by W.A.L. Schaeffer. Originally known as the Pliable Brick Company, Plibrico became renowned for its monolithic refractory products, which could be molded to fit any shape, a significant advantage in thermal and industrial settings.
Plibrico's product range included different kinds of cement, powdered or castable refractories, insulating materials, and boiler coating. However, in the 1950s, the company began incorporating asbestos fibers into its products, a practice that continued for over 20 years until the 1970s.
Asbestos injury lawsuits against Plibrico began in the 1980s, leading the company to file for Chapter 11 bankruptcy on March 13, 2002. The Plibrico Asbestos Trust was established on March 8, 2006, under its Chapter 11 Joint Plan of Reorganization.
The current payment percentage of the trust is 1.21%, meaning that compensation is calculated at 1.21% of the value listed by the trust for each asbestos injury type. In 2022, the Plibrico Asbestos Trust received 13,835 claims, approving 7,646 for payment. The trust paid out $8,563,062 in claims in 2022, contributing to a total of more than $64 million paid since its establishment.
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).
