Posted on January 26, 2022
After decades of defending against mesothelioma lawsuits, Owens Illinois Inc. (OI) filed a Chapter 11 bankruptcy protection plan to permanently settle all existing and future asbestos-related claims against them. The plan includes the creation of a trust that will review, approve and process claims filed by victims of asbestos exposure.
Owens-Illinois blamed for many mesothelioma deaths
The many mesothelioma lawsuits that have been filed against Owens-Illinois date back to the 1940s when the company was manufacturing Kaylo. Kaylo was an asbestos-based insulation product used in pipes and boilers. Evidence presented in the litigation revealed that the company’s director of research had tested the impact of asbestos as early as 1948, and that despite finding “unmistakable evidence of asbestosis”, the company continued to sell the deadly product.
Those at risk of malignant mesothelioma from the company’s products included the company’s factory workers, as well as anyone working with the company’s products. Victims include insulation workers, pipefitters and anyone else who has worked with products made with Kaylo insulation, which was made with 15% asbestos.
Millions of Mesothelioma Claims Paid
The decision to file for bankruptcy was made in the face of millions of pending claims filed by victims of mesothelioma and asbestosis. Between 1981 and 2022, the company paid out hundreds of millions in settlements and verdicts, and still faced liabilities valued at hundreds of millions more. The newly formed Asbestos Bankruptcy Trust will set aside $610 million to resolve asbestos victim claims and allow the company to move beyond those lawsuits.
If you or someone you love was exposed to asbestos in an Owens-Illinois product and was diagnosed with malignant mesothelioma or any other asbestos-related disease, you may be eligible for compensation. For more information about your rights, contact Patient Advocates at Mesothelioma.net at 1-800-692-8608.