National Gypsum Asbestos Bankruptcy Claims Settlement
Asbestos Litigation
INTRODUCTION
National Gypsum, a leading manufacturer of building materials, filed for bankruptcy in 1990 due to asbestos-related liabilities. As a result, the company established the National Gypsum Asbestos Trust to provide compensation for individuals diagnosed with an asbestos-related illness due to exposure to National Gypsum products.
The trust was established with $1.2 billion in assets and is responsible for paying out claims to eligible individuals. The trust is funded by National Gypsum and operates independently from the company. It is overseen by a board of trustees and managed by a trust administrator.
To file a claim with the trust, individuals must provide medical documentation of their asbestos-related illness and evidence of exposure to National Gypsum products. The trust will then review the claim and determine the appropriate level of compensation.
The trust has a set of guidelines for determining compensation levels, which consider the severity of the illness, the individual's age, and their expected life expectancy. The trust also considers other factors such as the individual's work history, smoking history, and prior asbestos exposure.
As of 2021, the National Gypsum Asbestos Trust has received over 150,000 claims and paid over $2 billion in compensation. It is still open and accepting claims from eligible individuals.
It is important to note that the National Gypsum Asbestos Trust is separate from the National Gypsum bankruptcy proceedings. Filing a claim with the trust will not affect an individual's rights to participate in bankruptcy proceedings.
Asbestos-related illnesses can take decades to develop, and many individuals exposed to National Gypsum products may not yet be aware that they have an illness. If you or a loved one have been diagnosed with an asbestos-related illness and believe it may be related to exposure to National Gypsum products, it is important to consider filing a claim with the National Gypsum Asbestos Trust.
WHO IS NATIONAL GYPSUM
Incorporated in Delaware in 1925
Manufacturer and supplier of services for the building and construction industry
Miner of asbestos fibers
Popular trade name: Gold Bond Products
Asbestos products types – drywall, joint compounds, textures, shingles, cement boards, adhesives, acoustical plaster, fireproofing, insulation cement, raw asbestos fiber (See product list below).
NATIONAL GYPSUM COMPANY PRODUCT LIST
Gold Bond Asbestos Cement Board (1943-1953)
Gold Bond All Weather Caulking Compound (1960-1974)
Asbestos Cement Siding Shingles (1953-1981)
Gold Bond Asbestone Panels (1941-1981)
Gold Bond Ceiling Tiles and Panels (1957-1979)
Gold Bond Canal Bulkheading (1959-1981)
Gold Bond Corrugated “Economy 250” Asbestos Cement Sheet (1954-1981
Gold Bond Corrugated “400” Siding and Roofing Material (1954-1981)
Gold Bond Insul-Best Panels (1958-1960)
Gold Bond Mortar Mix (1954-Early 1970s)
Gold Bond Permaboard (1954-1981)
Gold Bond Acoustical Plaster (1949-1962)
Gold Bond Exterior Stucco (1930-1949)
Thermacoustic (1949-1963)
Gold Bond Pliaboard (1954-1960)
Gold Bond Plia-Flex (1960-1981)
Gold Bond Plasti-Clad (1960s-1981)
Gold Bond Plasticrylic (1960-1981)
Gold Bond Thermotec Asbestos Cement Sheets (1960-1981)
Gold Bond Woodrock Battens, Panels and Siding (1963-1976)
Gold Bond No. 340 Insulating Cement (1941-1957)
Gold Bond Color Textures (Late 1930s-1976)
Gold Bond Texture (Late 1930s-1976)
Gold Bond Texas Texture (Late 1930s-1976)
Gold Bond E-Z Tex (Late 1930s-1976)
Gold Bond Velvet Texture A.R. (Late 1930s-1976)
Gold Bond super Westex (Late 1930s-1976)
Gold Bond Vinyl Texture (Late 1930-1976)
Gold Bond Decorite (Late 1930s-1976)
Gold Bond Shadowall (Late 1930s-1976)
Gold Bond Craftex (Late 1930s-1976)
Gold Bond Velvet White Super Spray (1959-1972)
Gold Bond Spray Quick (1959-1972)
Gold Bond Spray Quick A (1959-1972)
Gold Bond Velvet Spray Quick Texture (1959-1972)
Gold Bond E-Z Spray Texture (1959-1972)
Gold Bond Joint Cement (1935-1975)
Gold Bond Crown Coat Cement (1935-1975)
Gold Bond All-Purpose Joint Cement (1935-1975)
Gold Bond All-Purpose Joint Compound (1935-1975)
Gold Bond Tri-Treatment Joint Cement (1935-1975)
Gold Bond Tri-Treatment Joint Compound (1935-1975)
Gold Bond Finisher (1935-1975)
Gold Bond Joint Compound (1935-1975)
Gold Bond Quick-Treat Joint Compound (1935-1975)
Gold Bond Triple T Compound (1935-1975)
Gold Bond Sta-Smooth Compound (1935-1975)
Gold Bond Velvet Joint Compound (1935-1975)
Gold Bond Two-in-One Compound (1935-1975)
Gold Bond Thermo Weld Compound (1935-1975)
Gold Bond Quick Weld or Q-W Compound (1935-1975)
Gold Bond Ready Mixed Joint Cement (1950s-1975)
Gold Bond Ready Mixed Joint Compound (1950s-1975)
Gold Bond Topping Cement (1950s-1975)
Gold Bond Topping Compound (1950s-1975)
Gold Bond Velvet Topping Compound (1950s-1975)
Gold Bond Ready Mixed Compound (1950s-1975)
Gold Bond Vinyl Topping Compound (1950s-1975)
Gold Bond Spackling Paste (1950s-1975)
Gold Bond Laminating Adhesive (1953-1956)
Gold Bond Laminating Adhesive A (1970-1974)
Gold Bond Patching Plaster (1936-1969)
Gold Bond Perfo-Lyte or Perfolite (1955-1972)
Gold Bond Rockwall Acoustic Plaster (1936-1940)
Gold Bond Spray-On Acoustical Plaster (1955-1956)
Gold Bond Sprayolite (1956-1972)
Rockwool Insulating Cement (1941-1957)
Wesco Joint Treatment (1935-1975)
Asbestos Fiber (1958-1974)
Asbestos-Faced Mineral Wool Insulation Board (1944-1945)
Asbestos jackets for pipe covering (1941-1943)
Gold Bond Wood Fibered Plaster (1930’s-1971)
Gold Bond Cover Crete (1949-1965)
Gold Bond Fire-Shield Plaster (1959-1970)
Gold Bond Macoustic (1933-1949)
Gold Bond High Humidity Acoustical Plaster (1955-1956)
Sprayed “Limpet” Asbestos (1945-1949)
Rockwall Acoustic Plaster (mid 1930’s)
Hexagonal Shingles (1954-1969)
Asbestibel Panel (1958-1981)
Humiguard Panel (1958-1981)
Soffit Panel (1959-1981)
Asbesto-Grid Panel (1960’s)
Classic Shake Siding (1958-1981)
Classic “32” Siding (1966-1977)
Chromatone Siding (1956-1968)
Chromashake Siding (1950-1969)
Chromatex Siding (1954-1981)
Woodgrain Siding (1954-1981)
Perforated Panel (1941-1981)
Unperforated Panel (1958-1981)
Dutch Lap Shingles (1954-1969)
Ranch Style Shingles (1956-1969)
Deeptex Siding (1957-1969)
Exterior Foam Core Panels (1960)
Sussex “32” Siding (1957-1969)
Paints (sold under various names) (Late 1930’s-960’s)
Panelectric groove fill (1969-1972)
Asbestos stripping tape (1944-1945)
…
The author, Jon L. Gelman, practices law in Wayne, NJ. He is the author of NJ Workers’ Compensation Law (Thomson-Reuters) and co-author of the national treatise Modern Workers’ Compensation Law (Thomson-Reuters). For over five decades, the Law Offices of Jon L Gelman 1.973.696.7900 jon@gelmans.com have represented injured workers and their families who have suffered occupational accidents and illnesses.
Recommended Citation: Gelman, Jon L., National Gypsum Asbestos Bankruptcy Claims Settlement, www.gelmans.com (2023), https://www.gelmans.com/ReadingRoom/tabid/65/ArtMID/1482/ArticleID/218/preview/true/Default.aspx
© 2001-2023 Jon L Gelman. All rights reserved.
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