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Since the first major bankruptcy filing
by Johns-Manville Corp.,
in 1982, nearly 70 companies that either made or installed
asbestos
insulation or that sold or used products containing asbestos have
filed for
bankruptcy.
Since the beginning of 2000, at least
40
companies have filed for
bankruptcy protection.
(Click Here for a List
Bankrupt Manufacturers)
From
Roger Worthington
Los Angeles Times, December 18, 2001
A series of multi-million-dollar jury awards to
victims of asbestos exposure in recent months is sending shock waves through corporate
America, contributing to several major bankruptcy filings and warnings of massive future
damages.
The wave of new litigation and a surge in the number of people
reporting exposure are a blunt reminder that the asbestos problem, a largely forgotten
product liability mess of the 1980s, has not gone away.
More...
Wednesday August 15, 2001
All major U.S. asbestos makers are
likely to be bankrupt within the next two years as people with asbestos-related ailments
continue to file injury and compensation claims against the companies, a study published
on Wednesday said.
More ...
Additional Information:
Just as the ongoing epidemic of
asbestos-caused mortality and injury has been overshadowed by the
controversy over litigation, the origins of asbestos lawsuits have
been buried beneath claims that litigation has "bankrupted" dozens
of large U.S. companies, and that Congress must put an end to
asbestos litigation in order to protect more companies from going
bankrupt in the future.
More...
Owens Corning
Flintkote
United Stated Gypsum
3M
Automobile/Friction Product
Manufacturers
Combustion Engineering
J.T. Thorpe
A.P.
Green, Harbison Walker Company
Kaiser Aluminum
North American Refractories
Federal Mogul
U.S.
Mineral
U.S.
Gypsum
W.R.Grace
Against Backdrop of Rash
of Chapter 11 Bankruptcies, Time to Consider Legislation That Preserves Right of Access to
Courts for Malignancy/Disabled Asbestos Victims. (12/4/00)
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