The United States Mineral Products Company filed for bankruptcy in 2001 under the weight of more than 15,000 asbestos personal-injury claims. The trust opened in 2005, with $8 million. In 2019, the trust increased its payment percentage to 30%. Payments stalled for several weeks in early October 2019 due to a lack of funding. The payments resumed in late October 2019.Find Out If You Qualify
The United States Mineral Products Company manufactured fireproofing materials for the construction and defense industries. As the company expanded its product line from the 1950s through the 1970s, asbestos was added to increase fire and heat resistance.
The United States Mineral Products Company, which started operations in 1875 as the U.S. Mineral Wool Company, diversified its product line through the 1970s to include fireproofing coatings and sprays, sound shields and turbine insulation.
Today, United States Mineral Products Company continues to manufacture items branded under the names CAFCO in the United States and Isolatek International around the world. Currently, the company does not use asbestos in any products.
Beginning in the 1980s, United States Mineral Products Company was named in asbestos liability lawsuits. By the time the company filed for bankruptcy in 2001, thousands of claims had been filed.
Many of the claims stemmed from the use of CAFCO asbestos-containing products, including in the World Trade Center during construction in the 1970s. In one lawsuit, John Maiorana, a New York sheet metal worker, developed colon cancer after using asbestos-containing CAFCO products during the World Trade Center construction. The United States Mineral Products Company was found 50% liable for the illness, and his widow was awarded $3.31 million.
When the World Trade Center buildings were destroyed in the 9/11 attacks, tons of asbestos particles were released into the air from the debris. Scores of first responders, cleanup crews and local residents were exposed to asbestos.
See if you qualify for compensation from the U.S. Mineral Products Company Asbestos TrustGet Help Now
The United States Mineral Products Company opened in New Jersey producing mineral wool – a generic term used for fibrous substances made from minerals (like rock) or mineral products (like glass). In the early 1900s, the company was the leading manufacturer of mineral wool nationwide.
As the company expanded its product line, it increasingly used asbestos in its fireproofing materials. United States Mineral Products Company items were extensively used in the construction and national defense industries and were sold under a variety of names depending on the sales locations.
As of 2013, the trust has named 1,729 sites nationwide where United States Mineral Products Company asbestos exposure is possible. Some of the noteworthy locations include:
The United States Mineral Products Company identified three diseases that qualify for compensation through the trust. Most asbestos-injury trusts recognize six or seven diseases associated with asbestos exposure.
The following are the only acceptable diseases under the United States Mineral Products Company trust:
(Disease Level III)
Scheduled Value: $10,000
(Disease Level II)
Scheduled Value: $4,000
Scheduled Value: $500
Like other asbestos bankruptcy trusts, the United States Mineral Products Company Trust limits the amount of compensation to claimants by only paying a fraction of the scheduled values to ensure there are enough funds for all future claims. In 2014, the trust increased the payment percentage from 12.5% to 14%. In January 2019, the trust announced an increase to 30%, providing compensation as follows:
|Mesothelioma||(Disease Level III): $3,000|
|Lung Cancer||(Disease Level II): $1,2000|
|Other Cancer||(Disease Level I): $150|
On October 15, 2019, the trust announced a “lack of funding” and postponed payments. The payments were made on October 18 and 22 instead.
Like other asbestos trust funds, the United States Mineral Products Company trust has specific directions to file a claim. Claimants are expected to provide documentation that proves the illness and exposure to United States Mineral Products Company asbestos, among other requirements.
Attorneys who specialize in asbestos-trust settlements help claimants get the financial compensation they deserve. Contact our legal experts today to find out more information.
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