Bestwall LLC, an affiliate of Georgia-Pacific, filed for Chapter 11 bankruptcy in 2017 due to a high volume of asbestos lawsuits. Bestwall exposed consumers to products with asbestos, a material that can cause mesothelioma, for decades. In August 2020, Georgia-Pacific announced it will put $1 billion into a trust fund for those who developed asbestos-related diseases like mesothelioma due to Bestwall products.
Why Did Georgia-Pacific Put Money Into a Trust Fund?
With the $1 billion asbestos trust fund, Georgia-Pacific seeks to end the legal issues surrounding Bestwall. This announcement is a big win for anyone who used Bestwall products and developed mesothelioma as a result.
Bestwall faced over 62,000 asbestos legal claims when it filed for bankruptcy in 2017.
Bestwall claimants stated they developed diseases like mesothelioma from using the company’s products.
“We believe that establishing a trust through this specialized provision of the Bankruptcy Code is the only option that will allow Bestwall to permanently and fully resolve its asbestos claims while providing a resolution that fairly and equitably treats all individuals with current and future claims.”
How Did Bestwall Expose People To Asbestos?
Bestwall created a joint compound that contained asbestos until 1977. Joint compound was used in products such as drywall accessories. Asbestos in joint compound helped reinforce the drywall material and increased fire resistance.
When asbestos-containing joint compound was used or damaged, asbestos fibers could get into the air. Asbestos can also be released if the joint compound degraded over time.
Since mesothelioma and other asbestos diseases take 20-50 years to develop, anyone exposed decades ago could now be at risk.
Bestwall didn’t tell its employees or those who bought its joint compound that asbestos exposure could lead to deadly illnesses, which is why tens of thousands of people got sick and took legal action against the company.
How Will the Georgia-Pacific Asbestos Trust Help Victims?
The Georgia-Pacific asbestos trust fund will give victims an easy way to access mesothelioma compensation quickly.
Asbestos trust fund compensation can cover:
- Medical expenses
- Lost wages
- Mortgages and car payments
- Groceries and household bills
- Nearly any other expenses
Over $60 billion is available in asbestos trust funds as of 2020.
If you have mesothelioma, you may be able to access compensation from multiple trusts. It all depends on where you were exposed and which companies are potentially responsible.
Who Can File a Georgia-Pacific Asbestos Trust Fund Claim?
At this time, the final details of the Georgia-Pacific asbestos trust fund are still being determined by the court. When the trust is established, several groups of people may be able to file claims.
These groups include:
- Those with asbestos-related diseases: This includes former Bestwall employees and those who used joint compound manufactured by the company.
- Family members/loved ones: Loved ones may be able to file a claim if the affected person is too sick to do so or has passed away.
- Court-appointed representatives: Someone doesn’t have to be a relative to file a claim — anyone who has legal authority can file.
You may be able to access compensation from other asbestos trust funds right now. For best results, work with an experienced mesothelioma lawyer to see if a claim can be filed. These lawyers can determine which trust funds you qualify for and file for compensation within set deadlines.
See If You Can Pursue an Asbestos Trust Fund Claim
Our team can give you more information on trust funds and how to access them if you have mesothelioma or another asbestos-related disease. You and your family deserve funds that can pay for treatments and any other expenses that come after a diagnosis.
It costs no money to work with us and the process is hassle-free. Others we’ve worked with have started to get compensation from trust funds within 90 days. See if you qualify for asbestos trust funds today.