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Founded in 1886, the General Aniline & Film (GAF) Corporation grew to become one of the leading manufacturers in the roofing industry. In 2001, however, the company filed for bankruptcy as a result of substantial liabilities incurred from asbestos-claims.The History of GAF Corporation
GAF Corporation began life in 1886 as the Standard Paint Company. In 1921, the company changed its name to the Ruberoid Company. Then in 1928, the company acquired the German company IG Farben, whose reorganization eventually led to the company calling itself GAF Corporation.
Following a period during the 1940s when the company was operated by the federal government, GAF corporation became a private company in 1989. This was not before, however, the company played a dominant role in manufacturing photographic film. During this time, GAF manufactured various items containing asbestos. For example, GAF Corporation manufactured Calsilite block insulation and pipe covering, both of which contained asbestos. Over the last few decades, the company has seen several notable advancements in its products. For example, in 2005, the company began offering energy-efficient asphalt shingles.How the G-I Asbestos Trust Was Established
In the mid 1980s, GAF Corporation was one of a few dozen asbestos and insurance companies that created the Asbestos Claims Facility, a nonprofit organization created to reduce litigation costs and resolve asbestos claims. In 2001, however, GAF Corporation’s parent company, G-I Holdings, filed for bankruptcy. Consequently, the G-I Holdings trust was created.
The G-I Holdings trust pays asbestos victims only a portion of their requested compensation. Most recently, the trust is reported to pay 7.4% on the dollar.GAF and Asbestos Litigation
Some of the most notable cases involving asbestos exposure among workers in which GAF Corporation has been involved include:
If you or a loved one has been diagnosed with a deadly condition following asbestos exposure, you have rights as a victim and an attorney can help you assert them. An experienced attorney at our law firm will fight for the results you deserve. Contact the Throneberry Law Group today by either calling (888) 506-1131 or completing our online form.