What Is the Celotex Asbestos Trust?
From 1906 to 1977, Celotex Corporation manufactured asbestos-containing roofing and building materials for residential and commercial properties. As a result, many workers and consumers developed asbestos-related diseases like mesothelioma.
By 1986, Celotex had been hit with nearly 400,000 asbestos lawsuits, including more than 140,000 filed by those who were exposed to the company's products and got sick. Instead of taking their chances in court, Celotex declared bankruptcy and was ordered to create an asbestos trust to pay current and future victims.
About the Celotex Asbestos Settlement Trust
- In 1998, the Celotex Asbestos Settlement Trust was established after the company filed for Chapter 11 bankruptcy protection in 1990.
- Across the United States, Celotex's asbestos products could be found in schools, businesses, factories, and private homes.
- Construction workers, electricians, home remodelers, insulators, painters, and roofers are most likely to have worked with the company's asbestos-containing products.
- The Celotex asbestos trust was funded with more than $1.24 Billion, and you may be eligible for a payout to help with medical bills, lost income, and more.
Celotex asbestos victims diagnosed with mesothelioma, lung cancer, and other qualifying asbestos-related illnesses, as well as their family members, may be entitled to compensation.
At Sokolove Law, many of our clients start receiving payouts from asbestos claims in as few as 90 days of contacting our team. We’ll fight to secure the compensation you deserve as quickly as possible.
Since 1979, Sokolove Law has secured over $5.3 Billion for thousands of mesothelioma victims and their families.
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Celotex Asbestos Products
In the 1920s, Celotex manufactured fiberboard insulation, expanding over the years to produce a variety of construction materials like siding and roofing shingles. The company also acquired smaller companies as it grew.
One of those was Carey Canada Inc., an asbestos mining company. Carey mined and processed the asbestos fibers that made Celotex products durable and fireproof. Cary also produced their own line of asbestos-based construction products.
Celotex asbestos products included:
- Asbestos sheets, felts, and rope
- Cements, including those sold under the Careytemp and Vitricel brand
- Fiberboard, such as Thermo-bord and Careyflex Board
- Joint compounds, including Careytemp Adhesive and Careyduct Adhesive
- Marine panels used on U.S. Navy ships
- Pipe coverings and block, often sold under the Careytemp brand name
- Roofing, shingles, and siding
- Tiles, like Carey Asphalt Floor Tiles
When asbestos-containing products are installed, serviced, or removed, microscopic fibers can become airborne, posing a danger to those nearby. Workers and consumers who breathe in or swallow these fibers are at risk of developing mesothelioma and other asbestos-related diseases 20-50 years later.
Those harmed can pursue compensation from mesothelioma claims against negligent asbestos-related companies like Celotex.
Celotex Corporation Asbestos Lawsuits
In 1990, Celotex Corporation filed for bankruptcy after facing nearly 400,000 asbestos lawsuits filed by sickened workers and consumers, as well as property owners affected by Celotex's asbestos products.
Celotex asbestos lawsuits alleged that Celotex and their related business entities knew about the potential health hazards linked to asbestos but kept quiet to keep making money — instead of warning the public.
"[T]he entire empire became threatened with the discovery of a memo in which an expert on occupational safety, hired by Carey Canada's former parent company, claimed that the asbestos industry had chosen to ignore the huge medical risks of exposure to asbestos fibers."
– Tampa Bay Times
This negligence allowed those harmed to file Celotex asbestos lawsuits against the company. However, threatened by the fallout, Celotex sought bankruptcy protection to dodge their liabilities and stay in business.
$40 Million New York City Celotex Asbestos Trust Settlement
A Florida bankruptcy judge ordered the Celotex Asbestos Settlement Trust to pay New York City more than $40 Million for asbestos damage claims involving city schools and other buildings.
The Celotex asbestos lawsuit ruling covers over 400 claims that had already been approved by the trust’s Property Damage Claims Administrator but were not paid by trustees.
New York City had originally filed more than 740 asbestos claims against Celotex after the company filed for bankruptcy. Before the ruling, the city had received about $9 Million in compensation for 73 claims, while hundreds of additional approved claims remained unpaid.
$1.53 Million Celotex Lawsuit Verdict for Wrongful Death
A Missouri jury awarded over $1.53 Millionto the family of an insulator who died from lung cancer linked to asbestos-containing products manufactured by the Philip Carey Company, which had been acquired by Celotex.
The award was later reduced by $286,500 due to asbestos settlements with other defendants, bringing the total to around $1.24 Million. Celotex appealed, and the 8th Circuit upheld the verdict based on evidence linking the man's illness to Carey asbestos products.
The victim's work records and testimony from co-workers showed he had handled the products on multiple occasions for as many as 10 years. Additionally, an expert testified that the man's exposure to Carey's products had contributed to his death.
$700,000 Celotex Mesothelioma Lawsuit Verdict
A New York jury ordered Celotex to pay $700,000 to the wife of a man who died from mesothelioma after decades of occupational exposure linked to products connected to Celotex. Settlements with other companies increased the total payout.
The mesothelioma victim worked for nearly 60 years as a purchasing agent for the Robert A. Keasbey Company. This asbestos insulation distributor handled large volumes of asbestos products manufactured by Celotex’s predecessor, the Philip Carey Company.
During his employment, the man regularly visited warehouses where asbestos materials were unpacked, stored, and shipped, exposing him to significant amounts of asbestos dust. Celotex appealed the mesothelioma verdict but was unsuccessful.
$1.22 Million Celotex Asbestos Lawsuit Verdict Stands
A Texas jury awarded over $1.22 Million to the family of a factory worker who died of mesothelioma linked to Celotex. The bulk of the award was composed of punitive damages to punish the company for their recklessness. Defendant Union Carbide settled before trial for $900,000.
The man worked for nearly 30 years at a wallboard and plaster plant in Acme, Texas, where he handled raw asbestos used to soundproof products. The asbestos was supplied by the Philip Carey Manufacturing Company, a Celotex acquisition.
Celotex appealed the mesothelioma verdict on the ground that there was insufficient evidence connecting the man's illness to their asbestos products, but an appeals court disagreed and affirmed the trial court’s judgment.
Who Can File a Celotex Asbestos Settlement Trust Claim?
The Celotex Asbestos Settlement Trust accepts and pays claims filed by victims diagnosed with diseases linked to asbestos stemming from products manufactured and sold by Celotex and their related business entities. Family members may also be eligible to file a claim.
You may be able to file a Celotex asbestos trust fund claim if:
- You were diagnosed with mesothelioma, lung cancer, or a related illness
- A family member was diagnosed with or died from mesothelioma or another asbestos-related disease after being exposed
- You are a representative of the victim's estate
At Sokolove Law, our experienced asbestos attorneys offer free case reviews to determine whether you may be eligible for compensation from the Celotex asbestos trust and other sources of compensation to maximize your potential payout.
Call (800) 647-3434 now to find out if you may qualify for compensation. An estimated $30 Billion is available across all asbestos trust funds, and you may be owed money from multiple trusts.
Occupations Linked to Celotex Asbestos Exposure
Throughout much of the 20th century, Celotex asbestos-containing products could be found in worksites, construction zones, and private residences across America. While anyone who came in contact with these products could have been harmed, some workers faced increased risks.
High-risk jobs included:
- Asbestos abatement workers
- Boiler tenders
- Construction workers
- Electricians
- Home remodelers
- Insulators
- Miners
- Pipefitters and plumbers
- Maintenance workers
- Roofers
- Shipyard workers
- U.S. military veterans
This is only a partial list. Celotex factory workers may have also been exposed to asbestos during the manufacturing process or while boxing, shipping, or transporting products.
Workers may have unknowingly carried asbestos dust home on their clothes or tools, leading to secondhand exposure when loved ones hugged them or did the laundry. Many family members with mesothelioma have been exposed this way.
How to File a Celotex Asbestos Trust Claim
The Celotex asbestos trust has rules that claimants must follow to seek a payout. While the process can seem daunting, the asbestos attorneys at Sokolove Law can handle each step of the process to lessen any potential stress on your family.
When filing your Celotex asbestos claim, we can:
- Gather documentation: Our mesothelioma lawyers can collect medical records and asbestos exposure evidence connected to the Celotex Corporation and their related companies.
- File your Celotex asbestos claim: We will prepare and file your claim with the Celotex Asbestos Settlement Trust, as well as any other trusts you may qualify for compensation from.
- Recommend the right review for your claim: The trust's administrators will review your claim using either a Discounted Cash Payment or an Individualized Review Claim process. Your legal team can explain which option may be best in your case.
- Access compensation: Once your claim is approved and liquidated, the trust will issue a payment based on the scheduled value assigned to your asbestos-related disease.
Asbestos trust fund claims have statutes of limitations, which are deadlines that limit how long you have to pursue compensation. The deadline typically begins when a patient is diagnosed with an asbestos-related disease or passes away.
“Today, billions of dollars are potentially available across dozens of trusts. Our asbestos attorneys can determine if you’re eligible for trust fund compensation and file claims on your behalf while also pursuing money from lawsuits if you’re eligible."
– Ricky LeBlanc, Managing Attorney of Sokolove Law
Celotex Asbestos Trust Payouts
Companies like Celotex established trusts to pay current and future victims of their products. These funds provide different payouts based on a patient's asbestos-related disease, exposure details, and the type of review used to assess the claim.
Payouts are calculated using the Celotex asbestos trust payment percentage system, which ensures that funds are left to pay future claimants over time. Percentage amounts and other specifics are subject to change.
Celotex asbestos trust payouts may include:
| Disease | Scheduled Value | Maximum Value |
|---|---|---|
| Mesothelioma | $130,000 | $325,000 |
| Lung Cancer | $39,000 to $58,000 | $260,000 |
| Other Cancers | $26,000 | $130,000 |
The Celotex asbestos trust payment percentage is 7% of the settlement value, meaning a victim with a maximum-value mesothelioma claim could receive $22,750. With payouts from additional asbestos claims, many families receive over $1 Million total in financial support.
Our team can help maximize your results by pursuing compensation from all available sources for your family.
"We didn't know at one point where our next meal would come from. Before the lawsuits started, the settlements started coming in."
– Connie, Wife of a Mesothelioma Patient & Firm Client
File a Celotex Asbestos Trust Claim
A diagnosis connected to asbestos can change everything. Medical treatments, financial strain, and uncertainty about the future can be overwhelming.
As a national asbestos law firm, Sokolove Law has the experience and resources to prove asbestos exposure and help victims pursue compensation from the Celeotex asbestos trust and other potential sources of financial support.
For more than 45 years, we've secured over $5.3 Billion total for patients and families affected by mesothelioma.
Our mesothelioma attorneys handle all the legal work, allowing you to prioritize the important things in life — your health, well-being, and spending time with the people you love.
Call (800) 647-3434 right now or fill out our form to see if you may be eligible for a payout from the Celotex asbestos trust or other mesothelioma trusts. There are no upfront costs or hourly fees.
Celotex Asbestos Trust FAQs
When did Celotex stop using asbestos?
Celotex stopped using asbestos in their products around 1977. Up until that time, the company manufactured many different asbestos-containing building materials, including insulation, ceiling tiles, wallboard, roofing materials, and pipe coverings.
These materials could be found in homes, schools, factories, and commercial buildings, which led to widespread exposure and thousands of asbestos lawsuits.
Today, the Celotex Asbestos Settlement Trust provides payouts to compensate victims and their families for illnesses tied to their products. See if you may be owed money from the Celotex asbestos trust.
What is the average payout for the Celotex asbestos trust?
The average payout from the Celotex asbestos trust depends on factors like the claimant’s diagnosis, work history, evidence of asbestos exposure, and the trust’s current payout percentage. However, mesothelioma claims generally receive the most compensation.
While the amount from the Celotex trust can vary from case to case, many mesothelioma victims may qualify to file claims with multiple asbestos trust funds and companies. When combined, the total compensation for mesothelioma cases often exceeds $1 Million.
What is the current payment percentage for the Celotex asbestos trust?
At this time, the Celotex asbestos trust payment percentage is 7% of the settlement value. Asbestos trust funds use payment percentages to ensure money remains available for future claimants.
These percentages may change over time depending on the number of claims filed and the trust’s remaining assets.
What was Celotex used for?
Celotex's first product, Celotex insulating lumber, was sold under the brand name Celotex. The product was an exterior sheathing used for roof insulation or as a base under stucco or plaster.
The original product was made from sugarcane fiber, but over the years, the manufacturer added asbestos fibers to improve durability and fire resistance.
Celotex sheathing with asbestos posed a danger to workers who installed, cut, or drilled the product, as well as those nearby who may have inhaled the microscopic fibers that were released.
Does Celotex contain asbestos?
While Celotex products no longer contain asbestos, many materials manufactured and sold by the company and their subsidiaries up until the 1980s were made with asbestos.
For instance, Celotex fiberboard with asbestos was often used in walls and insulation systems, while Celotex ceiling tiles with asbestos helped with sound- and fireproofing and could be found in public buildings like schools, offices, and hospitals.
Today, Celotex asbestos-containing products may still be lurking in older buildings, putting construction workers, contractors, and occupants at risk.
What is the history of Celotex?
Celotex Corporation was founded in the early 1900s and became a major manufacturer of building materials like insulation, roofing products, ceiling tiles, and wallboard. Many of these materials contained asbestos for fire resistance and durability.
After facing nearly 400,000 asbestos lawsuits, the company filed for bankruptcy in 1990 and later established the Celotex Asbestos Settlement Trust to pay victims who developed illnesses linked to their asbestos-containing products.
How long does a Celotex asbestos trust fund claim take to pay out?
Payout timelines for claims filed with the Celotex asbestos trust can vary depending on factors like the type of review process requested and your asbestos exposure history. Discounted Cash Payment claims are often resolved faster, while Individualized Review Claims may take longer.
At Sokolove Law, we're committed to getting clients the most compensation as soon as possible. Many clients begin receiving payouts within 90 days of reaching out to us, with additional claims paying out over the next 12-18 months, depending on the specifics of the case.
Call (800) 647-3434 now to see if we can seek a Celotex asbestos trust fund payout for you.
