An asbestos bankruptcy trust was filed for in 2007 for Armstrong World Industries, 2500 Columbia Avenue Lancaster PA 17603 under the name Armstrong World Industries Asbestos Personal Injury Settlement Trust. Asbestos bankruptcy trusts are typically set up so that people who become victims of asbestos exposure can potentially obtain financial compensation for any illness incurred as a result of such exposure, including mesothelioma.
Exposure to asbestos can lead to a number of serious illnesses. One of the most devastating diseases is mesothelioma, a malignant form of cancer. The survival rate for mesothelioma is extremely low because symptoms do not begin to appear until 30 to 40 years after inhalation of asbestos fibers has occurred. By the point of diagnosis, the cancer has reached the later and nearly incurable stages.
As people became aware of the dangers of asbestos and mesothelioma diagnoses became more prevalent, people began hiring asbestos lawyers and suing the companies responsible for their illnesses. As the number of these lawsuits increased, it became necessary for the manufacturers and distributors of asbestos products to file for bankruptcy and reorganize their debts in a way that would allow them to pay off their liabilities. Part of this process involved setting up trusts to settle the claims.
Based in Pennsylvania, Armstrong World Industries was founded in 1860 as a manufacturer of cork bottle stoppers. In 1909, it was one of the first companies to begin designing and manufacturing linoleum flooring. The company now also produces ceilings and cabinets as well.
In 2000, Armstrong, along with its subsidiaries Nitram Liquidators Inc. and Desseaux Corp., filed for Chapter 11 bankruptcy. The organization was facing more than 175,000 asbestos-related lawsuits at this time. In 2007, the courts approved its reorganization plan and established a trust to resolve these liabilities.For more information on this Asbestos Bankruptcy Trust, visit the Trust web site at http://www.armstrongworldasbestostrust.com/ or call 800-708-8925
Contact the asbestos lawyers at Clapper, Patti Schweizer & Mason for more information on the bankruptcy trust for Armstrong World Industries, or if you have any other questions regarding mesothelioma.