RPM International Inc, the maker of Rust-Oleum protective paints and coatings, has announced it will contribute an unspecified amount of money into a court-approved trust for victims to access.
According to Bloomberg, the move was made by RPM months nearly one year after two of the company’s subsidiaries – Specialty Products Holding Corp. and Bondex International Inc. – filed for bankruptcy but failed to state if they would be funding any type of asbestos trust.
However, in announcing that they would be contributing to a fund, RPM will be protecting any of its subsidiaries, including Specialty and Bondex. from being affected by any asbestos lawsuits that arise in the future.
Specialty Products Holding has already faced approximately 15,000 asbestos lawsuits regarding Bondex products sold between 1966 and 1977 that were found to contain asbestos. When the unit filed for bankruptcy, 10,000 cases were still open.
If you or a loved one has been exposed to asbestos by using certain products or working for certain companies and have subsequently been diagnosed with mesothelioma, there may be legal options worth pursuing to obtain a mesothelioma settlement. Contact a mesothelioma attorney if you have any questions about the details of asbestos law and what is needed to pursue a settlement from the manufacturer of the asbestos product.