Artra Asbestos Settlement Trust

By - on May 22, 2020

Last Updated: May 22nd, 2020

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Artra Asbestos Trust is connected to the Synkoloid Company that was founded in 1894 in Staten Island, New York. The firm began as a small company, but by 1928, it had grown into a large organization because it created and patented Spackle, a dry mix paint powder that was unique in the marketplace.

In the 1950s, Synkoloid continued to grow by adding products, including waterproof paint, latex emulsion, and interior and exterior paints. Unfortunately, most of their products were made with asbestos, and thousands of workers and consumers were exposed over the years.

Asbestos Use At Synkoloid

Synkoloid mostly made and distributed paint and related products, so anyone who came into contact with these hazardous products could be at risk of developing mesothelioma. Workers who were most at risk were: (Mesotheliomalawyercenter.org)

  • Painters
  • Construction workers
  • Drywall installers
  • Carpenters
  • Home renovation specialists
  • General laborers
  • Home renovation specialists

Additionally, homes that used Synkoloid products before 1975 could contain asbestos. If you live in a home that was built before 1975, you may have been exposed to asbestos, as well.

Some of the brand names of asbestos-containing products included:

  • Plastibond
  • Snohide
  • Triple Duty Joint Compound
  • Tex-Wall
  • Flexi Patch
  • Tex-Add
  • Kool-Kap
  • Synko-Topping
  • EKE-Tex

These products included roof paints, joint compound, surface conditioners, cements, stucco, and other products used in construction.

Joint compound was one of the most common products that contained asbestos for decades. Common uses of Synkoloid joint compound included:

  • Concealing dimples in walls from the drilling of screws
  • Fixing wall blemishes
  • Repaired damaged drywall
  • Sealing holes around fixtures
  • Coating a ceiling or wall

Asbestos Lawsuits Started in 1960

By 1960, asbestos-related lawsuits started to pour in against Synkoloid. The Artra Group purchased Synkoloid in the 1970s and it took responsibility for all pending asbestos lawsuits.

In 1981, Muralo Company, Inc. purchased the company from The Artra Group and it took over many asbestos-related claims, but not any that occurred before 1981. Artra was left with tens of thousands of asbestos-related lawsuits to settle.

Eventually, all of the lawsuits became an overwhelming financial burden, and Artra filed for Chapter 11 bankruptcy. It eventually was forced out of business.

Additionally, Muralo had approximately 50,000 asbestos lawsuits filed against it and also was forced into bankruptcy. Muralo has done better after bankruptcy than Artra and continues to make and sell Synkoloid products today without asbestos. The company is protected from further Synkoloid asbestos litigation.

Overview Of The Artra Asbestos Trust

In 2007, the Artra Asbestos Trust was established with initial funding by Artra and Muralo of $2 billion. The trust’s website states that claims could be filed on or after Nov. 1, 2007, with the initial claim filing date being May 1, 2008. (Artratrust.com)

To qualify for payment from the Artra Asbestos Trust, all asbestos-related disease diagnoses must be accompanied by a physician’s diagnosis. It must state that at least ten years have passed from the initial date of asbestos exposure.

Artra Asbestos Summary

Synkoloid and the Artra Group were involved in manufacturing many products that contained asbestos. If you or a loved one has been diagnosed with an asbestos-related disease and made or used their products, it is critical to talk to a qualified mesothelioma attorney today.

Your attorney can conduct research to see if you may be eligible for mesothelioma compensation.  If so, you can file a claim with the Artra Asbestos Trust to receive compensation for your damages that can include medical bills, lost earnings, loss of consortium, and pain and suffering.