The Quigley Company, Inc. Asbestos Personal Injury Trust began processing claims in 2014 after lengthy court proceedings. As of 2017, the trust claimed $826 million in equity.
Beginning in 1916, Quigley Co. manufactured insulations and products for foundries and the iron, glass and steel industries, adding asbestos to products to increase heat and fire resistance. In 1968, the pharmaceutical company Chas. Pfizer & Co., Inc., purchased Quigley in a bid to diversify its holdings. By 1991, Pfizer decided to mainly focus on pharmaceutical products and sold off the Quigley assets. Pfizer did, however, keep ownership of the company itself.
When Quigley, which was originally known as Quigley Furnace Specialties Company, filed for Chapter 11 bankruptcy in 2004, it was facing thousands of lawsuits due to its asbestos use. While Pfizer never manufactured any of Quigley’s asbestos-containing products, Pfizer was also named in scores of asbestos lawsuits.
Everyone from the people who manufactured Quigley products to the people who washed their clothing is at risk for developing asbestos-related diseases. The courts have found that both Quigley and Pfizer are responsible for illnesses related to Quigley products.
The more popular Quigley insulating products were used in a variety of occupational settings including gas, oil and chemical plants, sugar mills, shipyards, logging facilities, paper mills railroads and refrigeration plants.
Quigley began using asbestos in its products in the 1940s, well after researchers linked asbestos to severe medical conditions. The company mainly manufactured refractory and insulating products for the steel industry. By the 1980s, the company, which was owned by pharmaceutical giant Pfizer at that point, was facing a mountain of asbestos litigation totaling about 160,000 cases.
When Quigley filed for bankruptcy, both Quigley and Pfizer faced more than 210,000 personal injury legal claims totaling about $1.2 billion. Experts estimated the companies could face another 280,000 claims until 2060, valued at about $4.4 billion. Pfizer contribute about $960 million toward the Quigley reorganization plan.
After Quigley filed bankruptcy, Pfizer entered into negotiations with asbestos victims to settle the cases. In the years that followed, Quigley and Pfizer sparred with the bankruptcy courts over reorganization plans. The federal courts issued about 20 decisions over the course of the case.
In 2012, the Quigley bankruptcy plan was completed. The trust currently pays 3.6 percent to 14.5 percent depending on when the claim was filed and other circumstances.
From the 1930s through the 1970s, Quigley manufactured products that contained asbestos. Pfizer acquired Quigley in 1968, but the company did not stop manufacturing asbestos-containing products until at least 1977. Despite being owned by Pfizer, Quigley continued operations by maintaining its own sales staff and filling customer orders. The Pfizer label appeared on Quigley products.
Some of the most widely used Quigley and Pfizer asbestos-containing products were spray insulations and insulation powders.
As a company that focused on refractory products, Quigley’s goal was to provide goods with insulating properties that can withstand high heat environments. Quigley’s best-selling products contained asbestos, which provided heat, chemical and fire resistance.
Most of Quigley’s products were sold in a dry form that had to be mixed with water to form a paste. In a powder form, asbestos was more likely to be released from the insulating products. Workers in Quigley factories and companies that used the products and their families were at risk for breathing in asbestos fibers. The following are some of the more popular Quigley insulating products:
Anyone who has been exposed to Quigley or Pfizer refractory products are at risk for developing asbestos related diseases and may have access to funds from the Quigley trust. To find out more information about the Quigley Company, Inc. Asbestos Personal Injury Trust and if you qualify for compensation, contact us today.
Like all other asbestos-related bankruptcy claims, the Quigley asbestos trust compensates asbestos victims in one of two ways – expedited review or individual review. Each provides claimants with funds based on disease severity, but the amount provided differs, as follows:
An expedited review of an asbestos claim provides claimants with a predetermined amount based on a schedule of illnesses. The process is intended to provide quicker access to funds, which can be helpful for gravely ill patients who need fast access to financial relief.
An expedited review from Quigley asbestos trust provides the following compensation:
|Asbestosis/Pleural Disease||$2,000 to $5,000|
To qualify for an expedited review, claimants must be able to produce medical documentation and occupational evidence to correspond with the trust requirements.
For claimants who do not qualify for an expedited review, an individual review may provide more or less than the fixed values through the expedited review. While the compensation amounts for individual reviews vary, the average schedule of values is as follows:
|Lung Cancer||$15,000 to $45,000|
|Asbestosis/Pleural Disease||$2,000 to $5,000|
In 2017 alone, the Quigley trust approved nearly 14,000 asbestos-related personal injury claims totaling more than $60 million.
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