The National Gypsum Company (“NGC”) was incorporated in Delaware in 1925 as an integrated, diversified manufacturer and supplier of products and services for the building and construction markets. Some of the products manufactured or sold by NGC contained asbestos. Many lawsuits were filed against NGC alleging asbestos-related bodily injury from exposure to asbestos or products that contained asbestos.
NGC initially filed its chapter 11 case on October 29, 1990. The Plan of Reorganization was confirmed March 9, 1993. The effective date of the NGC Settlement Trust (“NGCST”) was July 1, 1993. The NGCST was terminated April 22, 2003 following the second NGC (now named Asbestos Claims Management Company) bankruptcy.
The NGC Bodily Injury Trust (“NGCBIT”) became effective on August 6, 2003, following confirmation of the second NGC Plan of Reorganization. NGCBIT began allowing claims in 2004.
As of February 1, 2019, the NGCBIT has received 361,378 claims and has paid $482,296,293.65 to 213,478 claimants.
To find out more about the NGC Bodily Injury Trust and to view recent developments, please visit www.ngcbitrust.org.