Georgia-Pacific Puts Up $1 Billion to Start Asbestos Trust Fund
Nicole Winch | August 26, 2020
Georgia-Pacific LLC has made plans to advance $1 billion to finance an asbestos trust fund for its subsidiary, Bestwall LLC. The trust would help victims across the United States with asbestos-related illnesses, especially people who worked in construction and handled joint compound mixtures and wallboard components.
Asbestos was considered a “magic” mineral until the late 20th century, and companies like the formerly named Bestwall-Gypsum profited from its resistance to heat. Joint compounds contained asbestos as a way to reduce the risk of fires in walls in buildings, ships and other structures. Bestwall-Gypsum’s joint compound was dangerous to work with because it contained chrysotile asbestos.
The exposure to asbestos led to hundreds of thousands of legal claims. In 2017, Bestwall filed for Chapter 11 bankruptcy. This type of bankruptcy ensures that a liability trust is established to provide compensation for future mesothelioma victims.
If you or your loved one has been diagnosed with mesothelioma from handling these products, our lawyers are here to help. At BCBH Law, we have the resources and experience necessary to get you the compensation you deserve. Fill out our free case evaluation form and see how we can help you access money from the Bestwall asbestos trust fund.
How Jobs and Bestwall-Gypsum Were Affected by Asbestos
In 1977, Bestwall-Gypsum discontinued the manufacturing of joint compounds and other asbestos products. However, the company is still at fault today for many people’s cancer diagnosis. Therefore, the Bestwall trust fund compensates these victims.
The recent news on initial funding for this asbestos trust fund affects a multitude of Americans:
- Former employees of Bestwall-Gypsum or Georgia-Pacific who have mesothelioma
- People who worked at any company that used Georgia-Pacific or Bestwall-Gypsum products
- Family members who have mesothelioma because their loved ones worked at Georgia-Pacific or Bestwall-Gypsum
Like other major corporations in the asbestos industry, Bestwall-Gypsum continued to make large profits while endangering many people’s lives. There were a variety of wall products that Bestwall-Gypsum manufactured and sold. A majority of them contained varying amounts of asbestos. Some of these products include:
- Drywall adhesives
- Various types of joint compound
Unfortunately, anyone who worked in factories that manufactured these products unknowingly put their life at risk on a daily basis. Construction workers who installed drywall or used joint compounds were also at high risk of asbestos exposure.
There were other professions that dealt with toxic Bestwall-Gypsum products regularly, such as:
- Shipyard workers
Lawsuits Against Georgia-Pacific and Bestwall-Gypsum
While Bestwall-Gypsum originated in Pennsylvania, its newly established asbestos-liability company is located in North Carolina. Georgia-Pacific has headquarters in Atlanta and has facilities in more than 30 states. Similarly, Bestwall-Gypsum had operated in various locations throughout the country.
Georgia-Pacific and its affiliates were acquired by Koch Industries in 2005. Since then, Georgia-Pacific has fought numerous asbestos claims on behalf of itself and partner companies for years.
Like so many other companies that manufactured asbestos, Bestwall-Gypsum officials knew how harmful using the mineral was yet continued to incorporate this substance into their products. Their negligence and lack of concern for the wellbeing of their employees and consumers has contributed to over 430,000 personal injury lawsuits against them.
The $1 billion commitment should continue to help resolve the thousands of mesothelioma lawsuits they face today and years to come. It will also help many victims and their families.