The Yarway Asbestos Personal Injury Trust was created in 2015 with $326 million to pay injured victims. In 2018, trustees approved nearly 500 sites nationwide where Yarway asbestos-containing products were used. The trust pays claimants 25% of settlement amounts.Find Out If You Qualify for Compensation
Yarway Corp. opened in 1908 as a steam engine parts manufacturer. The product line including gaskets, valves, expansion joints, insulation, packing materials and steam traps. Yarway used asbestos from the 1920s through the 1980s.
Yarway, which began operations under the moniker Simplex Engineering, opened in the heyday of steam engines. When company owners realized the benefits of asbestos, the virtually indestructible mineral was used in many Yarway products. By 1950, Yarway was a leader in steam engine and boiler-power technology.
Yarway executives admit the company used asbestos in its products through the 1970s, long after the dangers of the mineral were known. In 1987, Yarway was bought out by Keystone International, a specialty valve manufacturer, and in 1997, Tyco Corporation acquired Keystone.
The Yarway Corp. stopped utilizing asbestos in its products in 1988 and shuttered operations in 2003.
Before the Yarway Corporation Chapter 11 Joint Plan of Reorganization was created, the company paid over $128 million in settlements, had more than 10,000 creditors and faced about $500 million in asbestos liabilities.
In 2018, trustees approved nearly 500 sites nationwide that have been approved as locations where Yarway asbestos-containing products were used.
See if you qualify for compensation from the Yarway Corp. Asbestos Trust.
Exposed to Asbestos
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The Yarway Trust designates four industries — shipyard, commercial, industrial and railroad – known for exposure to asbestos. Trustees identified the following professions to have a high likelihood of Yarway asbestos exposure:
In addition, Yarway trustees identified the following shipyard/shipboard trades as susceptible to asbestos exposure:
The trust has documented 477 sites around the country as known to have Yarway asbestos contamination, including:
The Yarway trust recognizes seven asbestos-related diseases and pays claims on a first-in, first-out (FIFO) basis.
Claimants have two options for collecting compensation from the Yarway trust:
Claimants who submit documentation for an expedited review must meet the medical and exposure criteria for the asbestos-related disease, as follows:
$55,000 (Level VII)
$17,500 (Level VI)
No Yarway compensation (Level V)
$5,000 (Level IV)
$10,000 (Level III)
$2,000 (Level II)
$2,000 (Level I)
Only claimants who have been diagnosed with disease levels III through VII (severe asbestosis, other cancer, lung cancer and mesothelioma) are eligible for an individual review. In addition to the medical evidence, the individual review takes into consideration mitigating circumstances that would justify a more significant settlement amount, including:
The individual review may provide Yarway asbestos victims with a larger settlement amount than an expedited review, as follows:
|Scheduled Disease||Average Compensation|
|Lung Cancer 1 (Level VI)||$20,000|
|Lung Cancer 2 (level V)||$5,000|
|Other Cancer (Level IV)||6,000|
|Severe Asbestosis (Level III)||$12,000|
|Asbestosis/Pleural Disease (Level II)||None|
|Asbestosis/Pleural Disease (Level I)||None|
The Yarway trust also provides compensation for other types of claims:
Claimants who seek compensation from the Yarway trust must be able to identify the Yarway products that caused asbestos exposure. If that exposure happened decades ago, claimants might have a difficult time determining where and when the Yarway asbestos occurred. Attorneys experienced in asbestos litigation help Yarway claimants through the trust process. They can help identify Yarway products, document illnesses and injuries and locate witnesses to the exposure.
To learn more about your options regarding asbestos exposure, including exposure to Yarway products, contact us today.
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