Facing Millions in Mesothelioma Claims, Glass Company Files Asbestos Bankruptcy Plan
After decades of defending against mesothelioma lawsuits, Owens Illinois Inc. (O-I) has filed a Chapter 11 bankruptcy protection plan to permanently settle all existing and future asbestos-related claims against them. The plan includes the establishment of a trust that will review, approve, and process claims filed by victims of asbestos exposure.
Owens-Illinois Blamed for Many Mesothelioma Deaths
The numerous mesothelioma lawsuits that have been filed against Owens-Illinois date back to the 1940s, when the company manufactured Kaylo. Kaylo was an asbestos-based insulation product used in pipe and boiler products. Evidence presented during litigation revealed that the company’s director of research had tested the impact of asbestos as long ago as 1948, and that despite his finding “unmistakable evidence of asbestosis,” the company continued to sell the deadly product.
Those at risk of malignant mesothelioma from the company’s products included the company’s own factory workers, as well as anybody that worked with the company’s products. Victims include insulation workers, pipefitters, and anybody else who worked with products made with Kaylo insulation, which was fabricated using 15 percent asbestos.
Millions in Mesothelioma Claims Paid
The decision to file for bankruptcy was made in the face of millions in pending claims filed by mesothelioma and asbestosis victims. Between 1981 and 2022 the company paid out hundreds of millions in settlements and verdicts, and was still facing liabilities valued in hundreds of millions more. The newly formed asbestos bankruptcy trust will set aside $610 million to resolve asbestos victims’ claims and permit the company to move past these lawsuits.
If you or someone you love was exposed to asbestos in an Owens-Illinois product and has been diagnosed with malignant mesothelioma or any other asbestos-related disease, you may be eligible to file for compensation. For information on your rights, contact the Patient Advocates at Mesothelioma.net at 1-800-692-8608.FREE Mesothelioma Packet