New York’s bustling industrial past made it a hub for innovation and manufacturing, and with it came heavy asbestos usage, since the substance was popular for its wide availability, fire resistance, versatility, and low cost. But this was before its negative health effects were widely known.
The State imposes strict liability for asbestos contamination on manufacturers and plant owners today. And this has led to some of the largest settlements and damage awards in the history of the New York.Â
Settlement
Jury Verdict
Settlement
Settlement
The following are notable cases of companies that previously used asbestos, and faced significant financial liability:
Johns-Manville was once the largest manufacturer of asbestos-containing products in the United States and became the most prominent example of asbestos litigation's impact on American industry. In 1982, facing thousands of asbestos-related lawsuits, the company filed for Chapter 11 bankruptcy protection, becoming the first major corporation to do so due to asbestos litigation. This landmark case led to the creation of the Manville Personal Injury Settlement Trust in 1988, which became a model for future asbestos bankruptcy trusts.
The company's bankruptcy reorganization established a trust fund of $2.5 billion to compensate current and future asbestos victims. This case fundamentally changed how courts and companies handle mass tort litigation, leading to the creation of Section 524(g) of the Bankruptcy Code, specifically designed for asbestos-related bankruptcies.
Pfizer's asbestos liability primarily stems from its acquisition of Quigley Company, a manufacturer of asbestos-containing products, in 1968. Although Pfizer never directly manufactured asbestos products, it faced numerous lawsuits due to its ownership of Quigley. In 2004, Quigley filed for bankruptcy protection, and Pfizer agreed to contribute about $430 million to a trust fund for asbestos claims.
The company continued to face legal challenges related to its handling of Quigley's asbestos liabilities. In 2013, Pfizer reached a $964 million settlement to resolve most of its remaining asbestos claims, demonstrating how even companies that didn't directly manufacture asbestos products could face significant liability through corporate acquisitions.
Union Carbide's involvement with asbestos stemmed from its production of asbestos-containing construction products and industrial materials. The company faced thousands of lawsuits from the 1970s onward, and while it never filed for bankruptcy, it established a significant claims-handling system to manage asbestos litigation.
After its acquisition by Dow Chemical in 2001, Union Carbide continued to face asbestos claims. The company has spent billions of dollars on asbestos-related defense and settlement costs, maintaining substantial reserves for future claims. Union Carbide's experience highlights how asbestos liabilities can persist long after a company stops producing asbestos-containing products.
Founded in Buffalo, National Gypsum was a major manufacturer of building materials, including asbestos-containing products. The company filed for bankruptcy in 1990 largely due to asbestos litigation. It emerged from bankruptcy in 1993 with a settlement trust established to handle asbestos claims.
The reorganized company continues to operate today as a major wallboard manufacturer, while the NGC Settlement Trust handles pre-1993 asbestos claims. This case demonstrated how companies could use bankruptcy protection to continue operations while addressing asbestos liabilities through a separate trust mechanism.
Garlock, based in Palmyra, NY, manufactured gaskets and sealing products, some containing asbestos. The company filed for bankruptcy in 2010 after facing numerous asbestos claims. What made Garlock's case particularly notable was its successful challenge to the traditional asbestos claims estimation process.
In a landmark 2014 ruling, the bankruptcy court found evidence of manipulation in previous asbestos claims against Garlock and significantly reduced the company's liability estimate from $1.2 billion to $125 million. The case emerged from bankruptcy in 2017 with a trust funded at $480 million and became a significant precedent in asbestos bankruptcy cases, highlighting issues of transparency and fraud in asbestos claims.
The following companies also have a history of asbestos-related litigation in New York State:
Note that many of these companies have either shut down, or restructured over the years. Asbestos cleanup efforts have been mandated and widely put in place as the general public became more aware of the harms this substance caused. But if you or a loved one worked at any of the above mentioned companies in the past, and have suffered mesothelioma due to asbestos exposure, you may be entitled to financial compensation.Â
Exposed To Asbestos at Work?
Contact the Porter Law Group for a free consultation.
The Porter Law Group offers comprehensive legal services for asbestos and mesothelioma cases. We handle every aspect of your claim, from initial investigation and filing to negotiation and, if necessary, trial representation. Our team works tirelessly to build a strong case, leveraging our extensive resources and network of medical experts to support your claim. We understand the urgency of these cases and strive to expedite the legal process while maximizing your compensation.
At the Porter Law Group, we bring a wealth of experience and a deep understanding of asbestos litigation to every case we handle. Our team is well-versed in New York State's asbestos laws and regulations, and we have a proven track record of securing substantial personal injury settlements and verdicts for our clients. We pride ourselves on our personalized approach, ensuring that each client receives the individual attention and support they need during this challenging time.
If you're seeking experienced asbestos and mesothelioma attorneys in New York State, look no further than the Porter Law Group. We offer free, no-obligation consultations to discuss your case and explain your legal options. Our team works on a contingency fee basis, meaning you don't pay unless we win your case. Don't let financial concerns prevent you from seeking the justice and compensation you deserve.
Contact the Porter Law Group today at 833-PORTER9 to speak with our knowledgeable staff, or fill out our online form and take the first step towards securing your future.
