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Celotex Corporation
Celotex is a manufacturer of roofing and insulation materials. In 1964 the company was reincorporated and worked closely with their Canadian division which was responsible for the mining and processing of the primary ingredient for their products, asbestos. At the time, asbestos was used in many different industrial items, and was considered to be an extremely beneficial material because of its ability to withstand great heat and even resist and help contain fire.
Years after the discovery of this naturally occurring material, asbestos was found to be highly toxic. It is made up of tiny fibers that can be inhaled without the victim even knowing. Once the fibers have been breathed in, they can do massive amounts of damage and cause a life threatening type of cancer called Mesothelioma.
Although Celotex was the winner of this case, there have been thousands of other lawsuits brought against the corporation from people who developed illnesses after being exposed to the asbestos in their insulation materials. By 1990, Celotex was declaring bankruptcy, and they formed the Celotex Asbestos Settlement Trust in 1998 to deal with all outstanding and future lawsuits. The Trust is designed to provide monetary compensation to victims of any valid asbestos related personal injury claim.
Today people who have been affected by the asbestos that was contained in any Celotex product may contact the operators of the Trust Fund to find out the fastest way to file a claim. As of 2007 the company began offering web seminars that explain the entire procedure for settling claims quickly and accepting compensation online.