October 30, 2008 has been set by the federal bankruptcy court for United States property owners to file claims related to Zonolite attic insulation, Grace’s asbestos-based insulation. It’s a loose-fill insulation sold in the United States for about 60 years ending in 1984. It’s been used in millions of homes and businesses but could be a health risk because of the large amounts of asbestos fibers it releases. Removal of this contamination could cost home owners up to $40,000 so submitting a claim through the bankruptcy proceedings could help owners recoup some of that cost.
As part of the bankruptcy proceedings, the court has established October 31, 2008 as the bar date for filing Zonolite Attic Insulation claims relating to diminution of property value, cost of abatement or removal and other economic losses associated with the product. If a proof of claim is not filed before this date at www.GraceClaims.com, property owners may lose their right to assert such damages in the future.
In a separate agreement worth between 1.8 billion and 3 billion dollars, Grace agreed to put the money, over the next 25 years, into a trust established to resolve lawsuits for individuals who have suffered with diseases such as asbestosis and mesothelioma from use of their products.
Mesothelioma is almost always caused by exposure to asbestos either directly or indirectly through family members who worked with the material. A mesothelioma cancer diagnosis can be made years after a family member carried home asbestos dust or fibers on their clothing, shoes, skin or in their hair. Usually by the time mesothelioma is diagnosed, the patient has only a short time to live, 12 to 18 months average. Because it takes so long after exposure to be diagnosed, many mesothelioma attorneys expect that mesothelioma lawsuits will continue for many years to come.
Another agreement approved in June requires Grace to pay another 250 million dollars to settle lawsuits brought to clean up Libby, Montana where asbestos was mined by Grace. At the peak of production, the mine produced 500,000 pounds of asbestos a day through the mill and released as much as 24,000 pounds a day of dust from the mill stack. When the wind blew the right way the town could be covered in a layer of dust with children drawing in the layer of dust on cars and clothes on the line covered as well. About 1900 men worked at the mine and x-rays of those who had been there 21 plus years showed that 92% of them had signs of lung disease.
