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Hercules Chemical Company, Inc. Asbestos Settlement Trust

History

The Hercules Chemical Company, Inc. Asbestos Settlement Trust was formed in 2011 with initial funding of $8.6 million following the company's Chapter 11 bankruptcy filing in 2008. Although the company now operates as part of Oatey, the Trust began accepting claims in 2011.

Founded in 1915, Hercules Chemical Company, Inc. manufactured chemicals and plumbing products, including chemicals for furnaces and boilers. In the 1950s, the company introduced asbestos into its plumbing products. One of its most popular products, Sta - Put putty, became a top seller by 1962. Production of asbestos - containing products continued into the 1980s, and the company later faced numerous asbestos - related lawsuits, leading to the creation of the Trust.

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Purpose of the Trust

The Trust was established to:

Handle and process all Trust claims. Manage the Asbestos Trust Assets to settle claims. Ensure fair and equitable treatment of all claimants.

Eligibility and Claim Process

All claims are handled equally under a first - in, first - out approach. The Trust recognizes five asbestos - related disease categories, each requiring a Claim Form with supporting medical and exposure documentation.

Four of the five disease levels include capped liquidated values. Eligibility is based on factors such as significant occupational exposure to asbestos, medical evidence that exposure contributed to the disease, and an official diagnosis.

Find Asbestos Exposure Sites

Select your state, then choose a city and jobsite to view known asbestos exposure locations.

Compensation and Payment Structure

Disease Levels and Scheduled Values

Disease Level	Scheduled Value ($)
Mesothelioma (Level V)	70,000
Lung Cancer (Level IV)	14,000
Other Cancer (Level III)	3,900
Severe Asbestosis (Level II)	6,500
Nonmalignant Disease (Level I)	1,100

Conclusion

The Hercules Chemical Company, Inc. Asbestos Settlement Trust provides fair compensation for individuals diagnosed with asbestos - related diseases resulting from exposure to the company's products.

Reference: https://hercules.mfrclaims.com/Resources.html