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More than $1 B at stake in asbestos lawsuit

August 14th, 2013

Garlock Sealing Technologies says it owes victims who suffered asbestos exposure at the $125 million, but lawyers representing those affected by the asbestos say the company owes at least $1.3 billion to current and future victims. Garlock manufactured sealers and gaskets that contained asbestos, a known carcinogen.

The company has already paid more than $1 billion dollars, and a U.S. bankruptcy judge will decide how much more than company will need to set aside for asbestos victims. More than $18 billion from trusts set up by companies has been paid to asbestos patients nationwide.

Asbestos exposure is the primary cause of mesothelioma cancer, a fatal form of cancer that can attack the lungs and abdominal wall. Mesothelioma can take decades to develop after exposure, which means many victims may not know they are owed compensation until years later.

 

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