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Asbestos Trust Funds and Payouts List

Approximately $30 billion is available in asbestos trust funds to compensate patients with mesothelioma and other asbestos-related illnesses. Asbestos trust funds were established by asbestos product manufacturers that went bankrupt in response to the large number of mesothelioma lawsuits against them. Asbestos trust funds provide a faster means of recovering compensation without having to file a lawsuit.

Maura Kolb

Legally Reviewed By: Maura Kolb
Managing Attorney | Asbestos Trust Funds & Resolution

Maura Kolb

Legally Reviewed By: Maura Kolb
Managing Attorney | Asbestos Trust Funds & Resolution

Play Video about Maura Kolb - Asbestos & Mesothelioma Trust Funds

Maura Kolb (00:00):
My name is Maura Kolb. I am a managing attorney here at The Lanier Law Firm. In particular, I manage the Asbestos Resolution Group.

(00:07):
In terms of my world and what my team and I do, our clients are victims of companies that went into bankruptcy because of their liabilities and are now being compensated pennies on the dollar. There are dozens of companies that over the years have gone out of business because of the many claims against them. Their companies made products that were dangerous, they put those products out on the market. Our clients and so many other thousands of men and women across the country were exposed to dangerous products for decades. A lot of the companies out there that today manufacture asbestos products or did in the past, knew that their products contained asbestos and that asbestos was very dangerous, that it could cause lung diseases, including asbestosis, lung cancer, other forms of cancer, and probably most seriously mesothelioma. It’s a horrible disease. It’s one that could have been prevented likely without the use of those products on the market, or making sure that people that used the products used proper respirators.

(01:30):
Where I’m sitting, companies should pay for the liabilities that they create. Anytime a client used an asbestos product in their home and dust was created, then they were exposed to asbestos in their home. For most trusts, we only have to prove they were exposed to the dust from an asbestos product, and unfortunately, we can’t give anybody their health back. So what we try to do is get compensation.

 

Asbestos trust funds were established to ensure asbestos exposure victims could receive financial compensation even if the companies that exposed them to asbestos had gone bankrupt.

Each company set aside millions of dollars in anticipation of a large number of future victims coming forward. As of September of 2023, approximately $30 billion remains in the trust funds.

Mesothelioma victims are not always eligible for asbestos trust fund proceeds, nor are trust funds the only method by which victims can receive compensation. The Lanier Law Firm is a nationwide law firm with extensive experience in asbestos litigation. We help our clients identify all responsible companies and obtain maximum compensation for mesothelioma through every means available.

Key Facts About Asbestos Trust Funds

Asbestos trust funds are money that has been set aside by bankrupt companies to compensate victims of asbestos exposure who have developed mesothelioma, lung cancer, or asbestosis. This money was set aside because the bankrupt companies cannot be sued.

  • More than 60 asbestos product manufacturers have declared bankruptcy and established mesothelioma trust funds.
  • To qualify for compensation from the asbestos trust fund, you must be able to prove that you were exposed to asbestos through one or more of the companies that established a trust fund and that you subsequently developed a qualifying asbestos-related illness.
  • Compensation available through the asbestos trust funds includes medical expenses, lost wages, and pain and suffering. Family members of asbestos exposure victims who have passed away can also receive compensation from the asbestos trust funds.
  • To obtain compensation through the trust funds for mesothelioma, you must file a claim with each fund that owes you compensation. This is faster and less complicated than filing a lawsuit.
  • It is possible to file a claim against multiple trust funds, and there is no limit to the number of trust fund claims you can file.
  • There are time limits to file a mesothelioma trust fund claim. These time limits are set by each individual fund. In most cases, the time limit is the same as the statute of limitations for filing a mesothelioma lawsuit in the state where you file your trust fund claim.
  • Asbestos product manufacturers that have not declared bankruptcy have not established asbestos trust funds. However, you can file a lawsuit against these companies.
  • It is important to contact an experienced mesothelioma lawyer to assist with your asbestos trust fund claim. Our nationally recognized mesothelioma attorneys can identify all of the trust funds that owe you compensation and ensure you receive the amount you deserve.

What is an Asbestos Trust Fund?

Asbestos trust funds are money that was set aside for asbestos exposure victims after the responsible companies declared bankruptcy. Asbestos product manufacturers that filed for bankruptcy were required to establish these funds under Chapter 11 U.S. Code § 524 in exchange for receiving bankruptcy protection.

Companies that file for bankruptcy are immune to lawsuits for liabilities they incurred before bankruptcy. Without the asbestos trust funds, mesothelioma victims would have been deprived of much-needed compensation for medical treatment, financial security, and justice.

Am I Eligible to File an Asbestos Trust Fund Claim?

You may be able to recover compensation from an asbestos trust fund claim if you meet all of the following criteria:

  • You were exposed to asbestos through a product that was manufactured or sold by the company that established a trust fund, whether you were exposed at work or through second-hand asbestos exposure, which occurs when a worker carries asbestos fibers home on work clothing.
  • You have received a confirmed medical diagnosis of mesothelioma, asbestosis, or asbestos-related lung cancer.
  • It has been at least ten years since your initial exposure to asbestos

You may be eligible to file a claim against multiple asbestos trust funds. If you have been diagnosed with an asbestos-related illness, you are entitled to file a claim against each trust fund that was established by a company that exposed you to asbestos. There is no limit on the number of trust fund claims you can file, as long as you can prove that each company played a role in exposing you to asbestos.

List of Asbestos Trust Funds

The mesothelioma trust funds that have been established are listed in the table below, as compiled by Maura Kolb, Managing Attorney of Asbestos Resolution at our law firm.

Company Trust Fund Started
ABB Lummus Global Inc. ABB Lummus Global Inc. 524(g) ASB PI Trust 2006
A-Best Products Company A-Best Asbestos Settlement Trust
ACandS ACandS Asbestos Settlement Trust 2008
AP Green APG Asbestos Trust 2014
API, Inc. API, Inc. Asbestos Settlement Trust 2005 2005
Armstrong World Industries Armstrong World Industries Asbestos Personal Injury Settlement Trust 2007
ARTRA Group and Synkoloid ARTRA 524(g) Asbestos Trust 2007
ASARCO ASARCO Asbestos Personal Injury Settlement Trust 2009
The Babcock & Wilcox Company Babcock & Wilcox Asbestos Personal Injury Settlement Trust 2006
Brauer Supply Company Brauer 524(g) Asbestos Trust 2012
Burns & Roe Burns & Roe Asbestos Personal Injury Settlement Trust 2010
C.E. Thurston & Sons, Inc. C.E. Thurston & Sons Asbestos Trust 2006
Celotex Corporation, Carey Canada Incorporated Celotex Asbestos Settlement Trust 1998
Christy Refractories Company, LLC Christy Refractories Asbestos Personal Injury Trust 2010
Combustion Engineering, Inc. Combustion Engineering 524(g) Asbestos PI Trust 2005
Congoleum Corporation, et al Congoleum Plan Trust 2010
DII Industries, LLC, Dresser Industries, Inc., Halliburton Company DII Industries, LLC Asbestos PI Trust – Halliburton Subfund 2005
Harbison-Walker Refractories Company DII Industries, LLC Asbestos PI Trust – Harbison Walker Subfund 2005
Durabla Manufacturing Company, Durabla Canada Ltd. Durabla Manufacturing Company and Durabla Canada LTD. Asbestos Trust 2011
Eagle-Picher Industries, Inc. Eagle-Picher Industries, Inc. Personal Injury Settlement Trust 1996
Federal-Mogul, Ferodo America Inc. Federal-Mogul Asbestos Personal Injury Trust – Ferodo Subfund 2010
Gasket Holdings, Inc. (Flexitallic) Federal-Mogul Asbestos Personal Injury Trust – Flexitallic Subfund 2010
Felt Products Manufacturing Company Federal-Mogul Asbestos Personal Injury Trust – FMP Subfund 2010
Turner & Newell Federal-Mogul Asbestos Personal Injury Trust – T&N Subfund 2010
The Flintoke Company, Flintkote Mines, Limited Flintkote Asbestos Personal Injury Trust 2015
Fuller Austin Company Fuller- Asbestos Settlement Trust 1998
Garlock Sealing Technologies, LLC, OldCo, LLC Garlock Settlement Facility (GST)
Geo V. Hamilton, Inc. GEO V. Hamilton, Inc Asbestos Trust 2019
G-I Holdings, Inc. G-I Holdings, Inc. Asbestos Settlement Trust