Years earlier, Celotex and Carey Canada had filed for bankruptcy protection under the burden of class action lawsuit charges against them. Now the company seems to face the same experience once again. Under the asbestos lawsuit filed by the Erie County and other government and public entities the company have to pay $1.2 million to the county.
The lawsuit was filed two years ago. The lawsuit charged the company of using asbestos containing materials in county office building. Two years ago the county spent $400,000 on asbestos abatement for one floor of a county office building.
The class-action settlement was recently finalized but the cost of asbestos abatement far exceeds their share of the settlement.