Owens-Illinois manufactured asbestos-containing products commonly known under the brand name “Kylo” from 1940-1958, including asbestos-containing insulation, pipe covering, and pipe insulation. Exposure to these asbestos products can cause mesothelioma, cancer, and asbestosis, among other lung and pleural diseases. Due to the deadly nature of their products, Owens-Illinois has faced hundreds of thousands of lawsuits which eventually led to the now established O-I Asbestos Trust fund.
The O-I Asbestos Trust fund is the result of what is often referred to as the “Texas Two-Step,” which is when a company forms a subsidiary and shifts liability to the new subsidiary to avoid bankrupting the company as a whole. In 2019, Owens-Illinois split into O-I Glass and Paddock Enterprises. All asbestos liabilities were placed in the subsidiary, Paddock, which then subsequently filed for bankruptcy to avoid further litigation. In 2022, Paddock’s Trust Plan was approved by the bankruptcy court. Under the Trust Plan, the O-I Asbestos Trust was established with an initial funding of $610 million to compensate present and future claimants. The Trust is set to start accepting asbestos exposure claims on October 04, 2022.
If you or a loved one suffered an illness or death you believe may have been related to exposure to asbestos-containing products, please contact Shelby Roden, LLC today at 205-933-8383 for a free consultation.