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Gold Bond

The National Gypsum company once offered a “gold bond” certificate to anyone who purchased its product. The “Gold Bond” line expanded and eventually became part of the National Gypsum company. Unfortunately, due to its heat resistant and durable nature, asbestos was used for many years in the company’s wallboard. While Gold Bond ultimately filed for bankruptcy in 1990, a trust still exists to address current and future asbestos claims involving the company’s products.

The History of Gold Bond

The National Gypsum was founded in 1925 to develop a new type of wallboard, which consisted of a mixture between gypsum and starch. The company’s marketing efforts featured a “gold bond” certificate with every wallboard order. This certificate offered $5,000 to anyone who could establish that the product was not lighter and stronger than other wallboards. Soon, the “Gold Bond” name became better known than National Gypsum. This prompted the company’s eventual name change.

In 1954, National Gypsum acquired Abestone Corporation, an asbestos plant in New Jersey. Due to the building boom of the 1950s and 1960s, the company’s products were placed in millions of homes. Many products manufactured by the company contained an average of 22 to 45% asbestos. While asbestos operations at National Gypsum always remained less than 10% of total sales, countless workers were exposed to asbestos. National Gypsum continued using asbestos in its products until the 1970s. In the early 1980s, Gold Bond switched to only asbestos-free products.

The Creation of the National Gypsum Asbestos Trust

In 1985, National Gypsum became part of an industry-wide agreement that established a National Claims Facility. Three years later, however, this facility was dissolved. A growing number of asbestos claims, however, led National Gypsum to file for Chapter 11 bankruptcy. Under its reorganization plan, the old National Gypsum was replaced with a new and similarly named company. Around this time, the National Gypsum Corporation Settlement Trust was also created. By 1997, the trust was already short on funds to compensate claims. Following another bankruptcy filing in 2002, the National Gypsum Company Bodily Injury Trust was created in 203. Currently, the trust pays out 41% on claims.

Lawsuits Involving National Gypsum

In the 1986 case of Roehling v. National Gypsum Company Gold Bond Building Products, a worker initiated legal action against eighteen defendants claiming personal injuries due to exposure to asbestos-containing products. After the worker passed away from an asbestos-related medical condition, the man's widow was substituted as a plaintiff. A district court's entry of summary judgment was reversed in this case because circumstantial evidence of a manufacturer’s product at a site was sufficient to name the defendant as a party in litigation.

Obtain the Assistance of a Compassionate Asbestos Exposure Lawyer

The legal counsel at Throneberry Law Group knows that prolonged and repeat asbestos exposure often leaves victims facing countless hardships. If you are a worker who was exposed to asbestos while on the job, one of the best steps that you can take following a mesothelioma or other associated illness diagnosis is to contact an experienced attorney. Schedule a free case evaluation with the Throneberry Law Group today by calling (888) 506-1131. You can also complete our online form.

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