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Kaiser Gypsum Files for Bankruptcy Amid Asbestos Exposure Claims

Throughout the 19th and first half of the 20th century, asbestos could be found in nearly everything. Paint, shingles, pipes, certain textiles, household goods, and drywall were just some of the many products that contained the heat-resistant mineral. As more and more scientific evidence linking asbestos exposure to illnesses like mesothelioma was released, governments around the world limited and even banned the use of asbestos. Today, asbestos is banned from being used from most, but not all, consumer products in the United States.

When an individual suffers an illness as the result of asbestos exposure, he or she may seek compensation for damages through an asbestos exposure claim. The compensation amounts secured by claimants can be fairly high, putting a financial strain on the companies responsible for those illnesses and pushing them toward bankruptcy. This is the case with Kaiser Gypsum, a former drywall manufacturer based in North Carolina. The company has faced 13,967 asbestos exposure claims, 1,498 of which were filed by claimants in Illinois. Although the company stopped producing drywall many years ago, it remains in existence to pay out compensation amounts to individuals affected by asbestos exposure.

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