List of Asbestos Bankruptcy Trust Funds for Mesothelioma

By - on February 11, 2019

Last Updated: July 23rd, 2020

Views: 1564

An asbestos trust fund can be a viable payout option for some victims of asbestos exposure and mesothelioma to obtain financial compensation for their medical costs and pain and suffering. Mesothelioma bankruptcy trust funds can be formed when a company that produced products with asbestos in them has filed for Chapter 11 bankruptcy protection. As part of the bankruptcy proceeding, the company is required to set up a trust fund to give compensation for current and future mesothelioma claims. As of now, there are approximately 60 trust funds active and $30 billion that is available to those who qualify.

Mesothelioma Trust Fund Settlements & Payouts

When you are considering filing an asbestos-related claim against one of these trust funds, it is natural to wonder about the level of compensation you might receive. The level of compensation that is available will differ between each fund, as well as the exact claim that you make. As with other mesothelioma claims, the trust fund administrators will review your medical expenses, lost income, and other costs related to your treatment, such as travel costs, as well as pain and suffering of a mesothelioma diagnosis.

The amount of financial compensation is determined like other mesothelioma claims, but the payout from the trust fund is different in that only a percentage of the total compensation amount may be paid. Trust funds must have funds available for those who will make claims later, most trust funds cannot make a full payment on your claim. Rather, the trust fund administrator will decide how much money each claimant is entitled to, and they will be paid a percentage of that amount.

For instance, the US Gypsum Asbestos Trust has a payout percentage of 25% for most claims. That means if you were awarded $100,000, you would get $25,000 from the trust. The payment percentage can change over the years.

How to File a Mesothelioma Trust Fund Claim

Before you file a trust claim, you and your loved ones should consult with an experienced mesothelioma attorney to understand all of the legal options for compensation. In some situations, the claimant might be able to file asbestos trust fund settlements against several trust funds. Or, have a claim against a trust and have a mesothelioma personal injury lawsuit against another company or companies.

But having several claims going at once can affect the amount of compensation you get, so it is even more important to work with a mesothelioma law firm to make sure you have chosen the best route for maximum payout in your case.

Mesothelioma Settlement Criteria for Eligibility

The first step to file a mesothelioma trust fund claim is to make sure the victim matches the criteria for the specific trust fund. Each fund can have different requirements, but there as similar guidelines for most:

  • Substantial proof that the asbestos exposure happened from working at a certain job site during a certain period of time
  • Proof that the asbestos exposure happened when specific products were used
  • Full documentation of the medical diagnosis, such as biopsies and x-rays

A qualified mesothelioma attorney can offer the exact eligibility requirements for every trust fund. If you meet the criteria, your lawyer can assist you in gathering the necessary documents and evidence to make your claim. Some of the documents you will need are proof of your employment, military service documents, and full medical records. The latter should include a doctor’s statement that confirms the diagnosis of an asbestos-related disease.

Filing Your Mesothelioma Trust Fund Claim for Review

After you have collected all required evidence and documentation, the various files can be turned in for review by the administrator for the trust fund. The reviews can be done on the following bases:

  • Expedited review: Claims will be processed after certain criteria have been met before other some other individual claims; claims are reviewed faster; claimants can receive compensation more quickly; expedited claims have a certain amount of compensation allowed.
  • Extraordinary basis: These are special cases where the claim meets the criteria for an expedited review, but will be treated as an individual review; claimants usually have to meet certain employment criteria; payouts could be higher than with an expedited review.
  • Individual review: Claimants do not meet additional criteria for expedited review; administrators review the claim in great detail; payouts could be more or less than compensation available with expedited review.

Asbestos Trust Fund Settlement Claim Payouts

After the administrators decide if the claim meets requirements for payment, the claim can be liquidated. This means a certain amount will be assigned to the claim and paid out to the claimant. The amount that you get depends upon the fund and the expenses you claimed. It also depends on the payout percentage that the asbestos trust fund allows. Reports from 2006 to 2012 found the entire mesothelioma trust fund system paid out more than $15 billion to asbestos and mesothelioma claimants.

List of Mesothelioma Trust & Personal Injury Settlement Funds

At least 115 asbestos companies have filed Chapter 11 bankruptcy since the early 1980s. Because of this, approximately 60 asbestos trust funds have been made. Asbestos funds are separate entities from the asbestos companies after which they are named. They are managed by a board of trustees to make sure that the funds are making appropriate payments to the victims of mesothelioma. Trustees also are responsible for ensuring the fund has adequate money for future claims, according to bankruptcy code proceedings.

Johns-Manville Corporation

This was the initial company to file for bankruptcy due to asbestos lawsuits. It was required to establish a trust fund more than 30 years ago with a fund of $2.5 billion. It was one of the biggest asbestos makers of its era, payouts have ceased twice because of so many claims against the trust fund. Some trust funds do not exist today, but approximately $37 billion is still in dozens of trust funds today for mesothelioma victims. (mantrust.claimsres.com).

US Gypsum Asbestos Personal Injury Settlement Trust

This is one of the biggest mesothelioma trust funds ever set up. It was created in 2006 after US Gypsum reorganized under Chapter 11 bankruptcy. For more than a century, this company produced many construction materials, such as drywall, joint tape, ceiling panels, insulation boards, molding plaster, cement, paint and many others. Some of them contained asbestos. Factory workers, construction workers and people who worked or lived in the buildings were often exposed. (usgasbestostrust.com).

Pittsburgh Corning Corporation Asbestos Personal Injury Trust

This trust was created out of the 16 year Chapter 11 proceedings of Pittsburgh Corning Corporation. The company made Unibestos, which was a pipe insulation product that contained high levels of amosite asbestos that was used in mills, power plants, ships and many other places. (pccasbestostrust.com).

W.R. Grace And Co Asbestos Personal Injury Trust

W.R. Grace and Co was a massive manufacturer and distributor of many asbestos products. It created all kinds of building materials with asbestos, including adhesives and cement. The company was found in later years to be a major polluter of asbestos at its many plants. This led to the creation of a Superfund Site in Libby MT. Because of all the mesothelioma lawsuit settlements against the company, it filed for Chapter 11 in 2001. (Wrgraceasbestostrust.com).

List of Asbestos Settlement Funds for Mesothelioma

The following is a list of every asbestos trust fund currently available around the country.

NameCompanyInitial FundingYear Created
A-Best ProductsA-Best Asbestos Settlement Trust$18 million2004
A.P. Green IndustriesAPG Asbestos Trust$333 million2014
A.B.B. Global Inc.Lummus 524(g) Asbestos Personal Injury Trust$38 million2006
API, Inc.API, Inc. Asbestos Settlement Trust$94 million2006
ACandS.Inc.ACandS Asbestos Settlement Trusts$528 million2008
Armstrong World IndustriesArmstrong World Industries, Inc. Asbestos Personal Injury Trust$2.06 billion2006
ARTRA Group, Inc.ARTRA 524(g) Asbestos Trust$74 million2007
Asbestos Claims Management Corp./National Gypsum CompanyNGC Bodily Injury Trust$446 million1993
Babcock & Wilcox CompanyBabcock & Wilcox Asbestos Trust$1.85 billion2006
BondexBondex Trust$797.5 million2016
Burns & Roe Enterprises, Inc.Burns & Roe Asbestos Personal Injury Settlement Trust$172 million2009
C.E. Thurston & SonsC.E. Thurston & Sons, Inc. Asbestos Trust$53 million2006
Celotex Corporation/Carey Canada, Inc.Celotex Asbestos Settlement Trust$1.25 billion1997
Combustion EngineeringCombustion Engineering 524(g) Asbestos Personal Injury Trust$1.24 billion2006
Congoleum CorporationCongoleum Plan Trust$270 million2010
Dill Industries, LLCDill Industries, LLC Asbestos Personal Injury Trust$2.51 billion2005
Eagle-Picher Industries CorporationEagle-Picher Industries Personal Injury Settlement Trust$730 million1996
EJ Bartells Co., Inc.Bartells Asbestos Settlement Trust$20 million2001
Federal Mogul Corp.Federal Mogul US Asbestos Personal Injury Trust$690 million2007
FerodoFederal Mogul US Asbestos Personal Injury Trust - Ferodo Subfunal$635 million2011
FlexitallicFederal Mogul Asbetos Personal Injury Trust - Flexitallic Subfund$635 million2011
Flinkote Co./Flinkote Mines Ltd.Flinkote Company and Flintkote Miners Limited Asbestos Personal Injury Trust$214 million2014
General MotorsMLC Asbestos Personal Injury Trust$625 million2012
G-I HoldingsG-1 Asbesots Settlement Trust$770 million2009
Hercules ChemicalHercules Chemical Company, Inc. Asbestos Settlement Trust$8.6 million2011
J.T. Thorpe (C.D. Cal.)J.T. Thorpe Settlement Trust$154 million2006
J.T. Thorpe (S.D. Tex)J.T. Thorpe Successor Trust$232 million2004
Johns-Manville Corp./Philadelphia Asbestos Corp. (Pacor)Manville Personal Injury Settlement Trust$2.5 billion1988
Kaiser Aluminum Corp.Kaiser Asbestos Personal Injury Trust$1.22 billion2006
Keene Corp.Keene Creditors Trust$45 million1996
KentileMetex Asbestos Personal Injury Trust$193 million2015
MacArthur Co./Western Asbestos CompanyWestern Asbestos Settlement Trust$2 billion2004
Maremont CorporationMaremont Asbestos Personal Injury Trust$28 million2019
North American Refractories Co. (NARCO)North American Refractories Company Asbestos Personal Injury Settlement Trust$420 million2013
Owens CorningOwens Corning Fibreboard Asbestos Personal Injury Trust - Owens Corning Subfund$3.42 billion2006
Owens Corning/Fibreboard Corp.Owens Corning Fibreboard Asbestos Personal Injury Trust$1.56 billion2006
Pittsburgh CorningPittsburgh Corning Corporation Asbestos Personal Injury Trust$3.41 billion2013
Plant Insulation CompanyPlant Insulation Company Asbestos Settlement Trust$242.8 million2012
Plibrico CompanyPlibrico Asbestos Trust$206 million2006
Porter-Hayden CompanyPorter Hayden Bodily Injury Trust$1 million2006
Quigley CompanyQuigley Company, Inc. Asbestos Personal Injury Trust$569 million2013
Shook & Fletcher Insulation CompanyShook & Fletcher Asbestos Settlement Trust$109 million2002
T.H. Agriculture & NutritionT.H. Agriculture & Nutrition, LLC Asbestos Personal Injury Trust$901 million2009
Thorpe Insulation Trust Co./Pacific Insulation Co.Thorpe Insulation Company Asbestos Personal Injury Settlement Trust$389 million2006
Turner & NewallFederal-Mogul Asbestos Personal Injury Trust - Turner & Newall Subfund$635 million2007
United States Gypsum Company/USG Corp.United States Gypsum Asbestos Personal Injury Settlement Trust$3.96 billion2006
United States Mineral ProductsUnited States Mineral Products Company Asbestos Personal Injury Settlement Trust$8 million2005
W.R. Grace & Co.WRG Asbestos Personal Injury Trust$2.98 billion2014
YarwayYarway Asbstos Personal Injury Trust$325 million2016

Get Mesothelioma Settlement Fund Help

With over $30 billion available for victims through the asbestos trust fund settlements, you could be entitled to financial compensations without ever filing a lawsuit. Mesothelioma & Lung Cancer victims qualify immediately. Complete the form or call us toll free (800) 352-0871

References