Two companies facing thousands of asbestos lawsuits, Garlock Sealing Technologies and Bondex International, have filed for Chapter 11 bankruptcy protection, according to recent articles in the Wall Street Journal and Reuters. More than 100,000 lawsuits have been filed against the two companies by plaintiffs who allege that they developed mesothelioma or other illnesses after using the companies’ asbestos products.

Garlock, which is owned by parent company EnPro Industries, has manufactured gaskets, hydraulic components, metal seals and other sealing products for more than 100 years. According to its bankruptcy filing, Garlock states that it is spending $100 million per year to settle and defend asbestos lawsuits filed against the company.

On June 21, the judge overseeing Garlock’s bankruptcy proceedings issued a preliminary injunction staying asbestos lawsuits against the company, as well as lawsuits against EnPro and several affiliate companies. The injunction will last until confirmation of Garlock’s Chapter 11 plan to deal with its current and future liabilities. Garlock has stated that it plans to pay all of its creditors in full, including claimants in asbestos and mesothelioma lawsuits against the company.

Bondex is a subsidiary of RPM International, Inc. Many of the lawsuits currently facing the company stem from Reardon Co., which was acquired by Bondex in 1966. Reardon manufactured home repair products that contained asbestos until 1977. Bondex has asked the bankruptcy court judge to issue a permanent injunction to shield it against future asbestos lawsuits filed over products that it sold or manufactured. The company had previously set aside approximately $478 million to settle its asbestos-related liabilities.

Because neither Bondex nor Garlock’s bankruptcy plans have been approved, the injunctions sought by both companies to stay asbestos claims against them could potentially delay the resolution of these cases for years to come. Hopefully these two companies and the courts will move swiftly and in good faith to resolve the thousands of outstanding lawsuits before them and bring justice to the many victims of these products.