Johns Manville Bankruptcy Trust & Asbestos Exposure
Johns Manville Bankruptcy Trust & Asbestos Exposure
The Johns Manville Bankruptcy trust is one of the oldest in Mesothelioma litigation history. Johns Manville is a company that produces insulation, roofing materials, and engineered products based in Denver, Colorado. Like most of the early construction industry, Johns Manville utilized asbestos is many of their manufactured products. Although asbestos usage from this company has halted, its negative effects have harmed many past employers resulting in many lawsuits. The company filed for bankruptcy and set up a trust fund for asbestos in order to handle all pending and future claims for asbestos.
Get Immediate Help with the Johns Manville Bankruptcy Trust
If you or a loved one was exposed to asbestos by a Johns Manville product and was diagnosed with mesothelioma, we can help. A mesothelioma lawyer at GPWLaw MI can help you with mesothelioma claims regardless of occupation. Mesothelioma compensation can be difficult to obtain on your own, especially with a large bankruptcy trust such as the Johns Manville Trust. Those seeking the Owens Corning asbestos trust should see our page here https://www.gpwlaw-mi.com/owens-corning-asbestos-trust-exposure/
History of Johns Manville
Based in Denver Colorado, the Johns Manville Corporation (JM) is a top manufacturer of roofing materials, insulation for equipment and buildings, as well as a large variety of engineered products. JM operates more than 45 industrial locations worldwide and ships its products to businesses in more than 84 countries.
JM got its start in 1858 when Henry Ward Johns created and patented the first contemporary roofing shingles and some insulation products. He went on to establish H.W. Johns Manufacturing. In 1901 he merged with the Manville Covering Company thus forming H.W. Johns-Manville (JM). In 1926, it was renamed the Johns Manville Corporation.
Following the 1926 merge, asbestos use became very common. The mineral was easily acquired and inexpensive. It was a great insulator, fire and heat resistant, flexible and lightweight. JM focused extensively on the mining, manufacturing and the distribution of asbestos products and fibers to be used by industries and the government.
During World War II, JM began producing a variety of asbestos products used by the United States government. In 1945, JM received a contract to supply asbestos insulation for practically every ship belonging to the United States Navy. In the shipyards alone, tens of thousands of workers installed thousands of tons of asbestos. Many of these laborers would become ill and file lawsuits many years later.
Following the war, JW went on to become a leader in the production of asbestos PVC, fiberglass insulation, and cement pipes as well as a wide range of other asbestos-containing products used for construction.
Up until the early 1980’s JM, for decades, was the foremost corporation to mine, process and prepare, manufacture, and supply asbestos and asbestos products.
Products Contained with Asbestos from Johns Manville
Products that contained asbestos manufactured by Johns Manville had been distributed worldwide. As previously mentioned, asbestos was extensively used in the construction industry prior to the knowledge of its risk to human health. The reason for using the harmful carcinogen circulated around its affordability, easy accessibility, and heat/fire resilience. Those seeking a Michigan mesothelioma lawyer https://www.gpwlaw-mi.com/.
Such asbestos-containing products include:
- Asbestotle Flashing
- Asbestos paper
- Cement board
- Floor tiles
- Pipe insulation
- Vulcabestos insulation
In addition, asbestos-containing products from Johns Manville were of various brand names.
Several of the brand names include:
- Colorbestos Siding Sheets
- J-M Builtup Roofs
- J-M MariniteFireproof Sheet
- J-M Transite
- Johns Manville Caulking Putty
- Johns-Manville Colorbestos Shingles
- Johns-Manville Rigid Asbestos Shingles
- Permastone Asbestos-Cement Flexboard
- Salem Asbestos Roof Shingles
- Stonehedge Arcitechtural Panels
- Terraflex Plastic Asbestos Floor Tile
- Thermobestos Block Insulation
- Thermobestos Cement
- Transitop Asbestos Panels
- Vitribestos Sheet
- Vulcabestos Insulation
Occupations Exposed to Asbestos – Johns Manville Bankruptcy Trust
Working with asbestos produced dust of minuscule asbestos fibers. These tiny airborne asbestos fibers floated in dust which anyone in the area could inhaled or ingested. Once inside the body the fibers become lodged in the bodies tissue. Often resulting in serious illnesses, like mesothelioma, many years later.
Heavy asbestos exposure was widespread. Miners were exposed to airborne fibers in the dust. JM employees were exposed. The workers of industries which used JM products were potentially exposed. As were individuals who came in contact with these products years later. Then there is the threat of secondary exposure which can occur when an individual or loved one is exposed to the asbestos fibers brought home on a workers clothing, hair or skin. Those seeking a new york mesothelioma lawyer https://www.gpwlaw-mi.com/new-york-mesothelioma-lawyer/.
Occupations that were exposed to Asbestos From Johns Manville Products
The following are occupations at risk for asbestos exposure from JM products:
- Asbestos abatement workers
- Boiler workers
- Construction workers
- Drywall installers and tapers
- Factory workers
- Furnace workers
- HVAC installers and repairers
- Insulation installers
- Maintenance workers
- Navy Officers and Sailors
- Shipyard workers
- Steel foundry workers
- Textile workers
Litigation against Johns Manville
Employees of Johns Manville began to face problems of mesothelioma as early as the late 1920s. Like many companies, negligent executives were aware of the harmful effects that asbestos could prose yet continued to place business before employee safety. In fact, by 1929 Johns Manville faced negligence lawsuits filed by 11 employees. Such lawsuits proved that the company did not provide adequate safety measures for employees – including the proper safety equipment, training, and ventilation facilities. Although the case was settled for $300,000, a gateway was opened for many lawsuits against the company.
Lawsuits such as this cost the company millions, as this was only one of the thousands of lawsuits Johns Manville had faced by the early 1980s. As a result of the buildup of litigations, the company filed for Chapter 11 Bankruptcy.
19Johns Manville Bankruptcy Trust
Johns Manville became the largest U.S. firm to file for bankruptcy in 1982. While the company was reorganized in 1988 it also formed the Manville Personal Injury Settlement – the first asbestos trust that was created with approximately $2.5 billion. Hundreds of thousands of victims have been compensated since it was established. In addition, Congress passed a new law requiring large asbestos companies to provide a trust fund as a component of bankruptcy protection.
Over $650 million in assets was held by the Manville Personal Injury Settlement Trust at the end of 2018. It has also liquidated nearly $5 billion in claims since 1990.
Although Johns Manville was a leader in the use of asbestos in products, they also paved the way for how companies can responsibly handle asbestos liabilities. Its approach to bankruptcy has affected other negligent companies as they followed suit, leading to an increase of asbestos trusts with the purpose of compensating victims of asbestos exposure. If you or a loved one believes to have been affected by-products of Johns Manville, you may be entitled to compensation from its active trust. Speak to a qualified attorney at our law firm today for more information. Help with mesothelioma claims https://www.gpwlaw-mi.com/how-to-file-a-mesothelioma-claim/