Quigley Company, Inc. Asbestos Personal Injury Trust
The Quigley Company, Inc. Asbestos Personal Injury (PI) Trust was established in 2013 following approval of the company's Chapter 11 Reorganization Plan. Initially funded with $569 million, partly contributed by Pfizer, the Trust provides compensation to individuals harmed by exposure to asbestos in Quigley's refractory products, including sealants and cement.
History
Founded in 1916, Quigley Company began as a small refractory manufacturing business. By the 1930s, many of its products incorporated asbestos, significantly increasing health risks for workers and consumers. Although the company discontinued the use of asbestos before the 1970s, litigation related to asbestos exposure began in 1979.
Facing mounting lawsuits, Quigley filed for bankruptcy in 2004. As a subsidiary of Pfizer, efforts to resolve claims and restructure operations continued for several years. After internal disputes, the Reorganization Plan was finally approved in 2013, establishing the Quigley Asbestos PI Trust.
The Trust was created to process, liquidate, and pay valid asbestos personal injury claims under its Trust Distribution Procedures.