Asbestos Litigation Claims are Administered by the Raytech Asbestos Claim Trust
Asbestos Litigation
Raybestos Manhattan Inc. had several facilities, including a plant in Passaic, NJ. The company manufactured automotive and mechanical friction materials, some of which contained asbestos fiber. The company declared bankruptcy due to the volume of asbestos litigation that was pending. As part of the resolution of the bankruptcy proceeding, the Raytech Trust was created to compensate victims of asbestos-related disease. Raybestos products were used throughout the United States, and a Trust-approved site list has been published. Asbestos is causally related to asbestosis, lung cancer, and mesothelioma.
EVOLUTION OF THE RAYTECH TRUST
Asbestos is a naturally occurring mineral that has been widely used in construction and industrial materials for many years due to its heat-resistant properties. However, it was later discovered that exposure to asbestos fibers could lead to serious health problems, including lung cancer and mesothelioma.
The Raybestos Manhattan plant in Passaic, NJ, was an industrial facility that produced asbestos-containing products, such as brake linings, gaskets, radiator hoses, bowling balls, and typewriter parts. The plant was in operation from the early 1900s to the 1970s. During this time, many workers at the plant were exposed to asbestos fibers, putting them at risk of developing serious health problems.
Our office handled many plant workers’ cases for workers’ compensation benefits. It was involved in the civil action, Austin v Johns Manville, in US District Court filed against the asbestos manufacturers, suppliers, and health resea groups. The case was assigned to the Honorable Harold Ackerman, USDCT Judge. The Judge ultimately settled the case tri
During the pre-trial phase of the case, the famous Summer Simpson papers, a collection of documents and internal correspondence from the Raybestos Manhattan plant, were discovered. They provided evidence of the company's knowledge of the dangers of asbestos and their failure to protect workers and the general public from exposure. The documents were used as evidence in the trial and helped to strengthen the plaintiff's case.
In the 1980s and 1990s, thousands of lawsuits were filed against the company by individuals exposed to asbestos at the plant and who had developed health problems. Raybestos Manhattan was forced to file for bankruptcy protection in 1990, and the Raytech Asbestos Trust was established in 1998 as part of the company's reorganization plan.
The Raytech Asbestos Trust was created to compensate individuals harmed by exposure to asbestos from the Raybestos Manhattan plant. The trust is funded by the proceeds from the sale of the company's assets and by contributions from insurers.
The trust has paid out billions of dollars in compensation to individuals who have filed claims. However, trust is not without its problems. Some individuals have complained that filing claims and receiving compensation are overly complex and time-consuming. Additionally, the trust has faced criticism for not having enough money to pay all of the claims that have been filed against it.
THE BANKRUPTCY TRUST
The Raytech Trust, encompassing the claims of Raybestos Manhattan and Raymark Industries, Inc., established a bar date for asbestos liability claims.
"i) Any claim first diagnosed before October 1, 2006, must be filed with the Raytech Trust within one (1) year of the initial claims filing date; and
(ii) Any claim first diagnosed after October 1, 2006, must be filed with the Raytech Trust within one (1) year of the initial claims filing date or three years from the date of diagnosis, whichever occurs later.
The Initial Claims Filing Date was January 15, 2010. Therefore, many of the existing asbestos personal injury claims must be filed and received by the Raytech Trust no later than January 15, 2011.
BAR DATE DID NOT AFFECT FUTURE CLAIMS
This Bar Date does NOT pertain to any asbestos personal injury disease category currently suspended by the Trust. In addition, as to any claims that were time-barred as of the Petition Date, March 10, 1989, the Raytech Trust retains all rights and defenses based on state and federal statutes of limitations and repose."
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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., Bar Date Announced for Raytech Asbestos Claims, www.gelmans.com (2023), https://www.gelmans.com/ReadingRoom/tabid/65/ArtMID/1482/ArticleID/1004/preview/true/Default.aspx
© 2010-2023 Jon L Gelman. All rights reserved.
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