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Headquartered in Birmingham, Alabama, Shook and Fletcher Insulation Company manufactured asbestos-containing products from 1949 to the late 1970s. Due to a mounting number of asbestos lawsuits, the company ultimately closed its doors in 2002. Since this time, a $109 million Shook and Fletcher trust has paid damages on asbestos claims.The History of Shook and Fletcher
Shook and Fletcher began by manufacturing brick, coal, and iron-related products. In 1949, the company began creating insulation-containing material, which is when the company began working with asbestos-containing materials. At this time, asbestos was viewed as ideal insulation material due to its ability to withstand high temperatures.
Some of the various products that Shook and Fletcher manufactured that are known to contain asbestos include:
Shook and Fletcher eventually replaced its asbestos fibers with fiberglass as well as other chemicals including hexabromocyclododecane (HBCD), polystyrene, and talc. But the damage had already been done.The Creation of the Shook and Fletcher Trust
In 2002, Shook and Fletcher filed for Chapter 11 bankruptcy as the result of financial pressure created by asbestos litigation. At this time, the company had paid more than $40 million in asbestos settlements. Following the bankruptcy, the Shook and Fletcher Asbestos Settlement Trust was created to handle asbestos claims. The trust contains an estimated $109 million to provide compensation to the victims of asbestos lawsuits.
People with asbestos-related illnesses caused by Shook and Fletcher products can file claims with the trust. The trust also accepts claims from anyone who worked at one of the 400 Shook and Fletcher locations where exposure to the material occurred. In 2017, claimants were paid 76% of their approved amount through the trust. In 2019, the amount that parties received was reduced to 50%. While this percentage means that asbestos victims are not compensated for the full extent of their damages, this percentage is substantially higher than many other asbestos trust funds.Asbestos Lawsuits Involving Shook and Fletcher
Since the 1970s, Shook and Fletcher workers who developed asbestos-related diseases after working with asbestos have filed many lawsuits against the company. At the time that the company filed for bankruptcy in 2002, the company reported at least 80,000 active asbestos lawsuits.
In 1993, Shook and Fletcher as well as 19 other asbestos manufacturers initiated a class action lawsuit to settle asbestos-related claims. This case was ultimately appealed for review by the United States Supreme Court, who declined to hear the case. Shook and Fletcher then spent six years resolving agreements with many of its insurers.Obtain the Assistance of a Skilled Mesothelioma Lawyer
If you or a loved one has been diagnosed with an asbestos-related condition after working at Shook and Fletcher or extended use of a material manufactured by the company, you should remember that you might have a right to pursue compensation. Contact our law office today by calling (888) 506-1131 or schedule a free case evaluation with us online.