Asbestos Trust Funds and Payouts List
Approximately $30 billion is available in the 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 (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.
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.
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 asbestos 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, 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 an asbestos 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 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, asbestos exposure 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 asbestos 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.
|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||2009|
|H.K. Porter, Inc.||H.K. Porter Asbestos Trust||2008|
|Hercules Chemical Company, Inc.||Hercules Chemical Company, Inc. Asbestos Settlement Trust||2011|
|J.T. Thorpe, Inc.||J.T. Thorpe Company Successor Trust|
|J.T. Thorpe, Inc.||J.T. Thorpe Settlement Trust||2006|
|The Kaiser Aluminum & Chemical Corporation||Kaiser Asbestos Personal Injury Trust||2006|
|Kaiser Gypsum Company, Inc., Hanson Permanente Cement, Inc.||Kaiser Gypsum Asbestos Personal Injury Trust||2021|
|Keene Corporation||Keene Creditors Trust||1996|
|Leslie Controls, Inc.||Leslie Controls Asbestos Personal Injury Trust||2012|
|Johns Manville Corporation||Manville Personal Injury Settlement Trust||1988|
|Maremont Corporation||Maremont Asbestos Personal Injury Trust||2019|
|Kentile Floors||Metex Asbestos PI Trust||2015|
|General Motors, Inc.||Motors Liquidation Company Asbestos Personal Injury Trust|
|National Gypsum Company||NGC Bodily Injury Trust||2003|
|North American Refractories Company||NARCO Asbestos Trust||2013|
|Owens Corning/Fibreboard||OCFB Asbestos Personal Injury Trust – FB Subfund||2006|
|Owens Corning/Fibreboard||OCFB Asbestos Personal Injury Trust – OC Subfund||2006|
|Pittsburgh Corning Corporation||Pittsburgh Corning Corporation Asbestos Personal Injury Settlement Trust (PCC)||2008|
|Plant Insulation Company||Plant Asbestos Settlement Trust||2012|
|Plibrico Company||Plibrico Asbestos Trust||2006|
|Porter Hayden||Porter Hayden Bodily Injury Trust||2007|
|Quigley Company, Inc.||Quigley Company, Inc. Asbestos Personal Injury Trust||2013|
|Raytech Corporation||Raytech Trust||2001|
|Rock Wool Manufacturing Company||Rock Wool Manufacturing Company Asbestos Trust||1999|
|Sepco Corporation||Sepco Asbestos Personal Injury Trust||2020|
|Shook & Fletcher Insulation Company||Shook & Fletcher Asbestos Settlement Trust||2002|
|Specialty Products Holding Corp., Bondex, International, Republic Powdered Metals, Inc., NMBFil, Inc.||Bondex Trust||2016|
|State Insulation Corporation||State Insulation Corporation Asbestos PI Trust||2016|
|T H Agriculture & Nutrition, LLC||T.H. Agriculture & Nutrition, LLCAsbestos Personal Injury Trust||2009|
|Pacific Insulation Company, Thorpe Insulation Company (no relation to J.T. Thorpe)||Thorpe Insulation Settlement Trust||2010|
|United Gilsonite Laboratories||United Gilsonite Asbestos Personal Injury Trust||2015|
|United States Gypsum||United States Gypsum Asbestos Personal Injury Settlement Trust||2007|
|United States Mineral Products Company||United States Mineral Products Company Asbestos Personal Injury Settlement Trust||2010|
|MacArthur Company, Western Asbestos Company, Western MacArthur Company||Western Asbestos Settlement Trust||2004|
|W.R. Grace & Company||WRG Asbestos PI Trust||2009|
|Yarway Corporation||Yarway Asbestos Personal Injury Trust||2015|
How to File an Asbestos Trust Fund Claim
Filing an asbestos trust fund claim is generally a simpler process than filing a lawsuit. However, it will still be necessary to identify the companies responsible for your asbestos exposure. You will also be required to provide evidence to support your claim.
Our experienced mesothelioma lawyers can handle all aspects of your trust fund claim for you, ensuring you recover maximum compensation without the stress and uncertainty of handling claims on your own. We will go the extra mile for you in each of the following steps of the trust fund process to ensure you recover maximum compensation:
- Perform a thorough investigation of your asbestos exposure history. This includes a review of your work history and the asbestos products in your work environment.
- Identify the companies responsible for your asbestos exposure. These are the companies that manufactured or supplied the asbestos you encountered at work. Our seasoned mesothelioma lawyers can trace the origins of any asbestos product you were exposed to.
- Gather Evidence. You will be required to provide proof of your diagnosis and that you were exposed to asbestos that was manufactured or sold by the company that established each trust fund against which you file a claim.
- Choose Your Filing Method. Most asbestos trusts allow you to choose between an expedited claim or an individual review. Expedited claims provide fast processing time and fixed awards to qualified claimants. Individual reviews may yield higher awards, but they take longer and expose you to uncertainties. It is best to let a skilled mesothelioma lawyer with experience handling trust fund claims determine which claim type is best in your case.
- File Your Claim. You will need to include your work history and medical evidence and answer several questions. The wording you choose when completing your claim can impact your compensation. Before you file, call our experienced mesothelioma lawyers at 866-702-7310 for the best result.
- Provide additional documentation during the review process. After you file, the trust funds may ask for updated medical information as your claim is processed. Your attorney can ensure this process goes smoothly and promptly provide all requested information for you.
- Collect Your Compensation. After your claim is processed, each trust fund will award you separately.
How much can I expect to receive from an asbestos trust fund payout?
Asbestos trust fund claims can pay out more than $500,000. The amount you receive depends on multiple factors, including the following:
- Which asbestos-related illness you contracted and its severity
- Your age at diagnosis and your expected life span
- The financial cost of your diagnosis, such as medical expenses and lost wages
- Which companies exposed you to asbestos
- The number of trust fund claims you file
- The type of work you performed when you were exposed to asbestos
Mesothelioma claims typically pay higher compensation than trust fund claim for other asbestos-related illnesses. Some trust funds have more money available to pay, and this can also affect your payout.
Our proprietary asbestos product database is one of the largest in the world, and it includes asbestos products, internal company memos, and other results from our own private investigations of asbestos product manufacturers. This puts us in the best position to identify all of the liable companies and gather the evidence you need to file as many trust fund claims as possible to maximize your compensation.
Trust Payouts and Other Options for Compensation
When you’ve been diagnosed with an asbestos-related illness, you may be entitled to compensation through more than one source. The type of compensation you can recover depends on which companies exposed you to asbestos.
- If you were exposed to asbestos by a company that has gone bankrupt, you can file an asbestos trust fund claim. These companies are exempt from lawsuits.
- If the company that exposed you to asbestos has not gone bankrupt, you may be able to recover significant compensation by filing a mesothelioma lawsuit against the company.
- If you were exposed to asbestos while serving in the military, you may be eligible to receive free medical care for your asbestos-related illness and tax-free monthly disability compensation by filing a VA claim.
When you hire the Lanier Law Firm, we will look for every source of compensation available to you. Our asbestos exposure clients often recover millions of dollars in compensation because we are never satisfied until we know we have exhausted every option.
You may be able to file a lawsuit that names multiple defendants, several trust fund claims, and a VA claim all at the same time. There are no rules against filing more than one type of claim.
Are proceeds from a mesothelioma trust fund taxable?
Proceeds from a mesothelioma trust fund are generally not taxable. Under Chapter 26 U.S. Code § 104, compensatory proceeds from personal injury claims are not taxable. Punitive damages are taxable but are not common in mesothelioma trust fund claims.
How long do I have to file an asbestos trust fund claim?
Unlike tort claims governed by state law, the statute of limitations for trust fund claims is determined by each trust. The time limit is generally two or three years after the mesothelioma diagnosis.
Can family members file mesothelioma trust fund claims?
Mesothelioma victims can rest assured that their loved ones will be taken care of in the event of their death, no matter where they are in the claims process.
Immediate family members are entitled to file wrongful death trust fund claims after the death of the victim in the event the victim has not already filed a claim. Family members can continue claims filed by a mesothelioma victim who passed away before the process was finished. Additionally, families of claimants who receive monthly payouts from mesothelioma funds can continue receiving trust fund payments beyond the death of the claimant.
Do I need a mesothelioma lawyer to help me file a trust fund claim?
In addition to the pain and suffering brought on by the illness, mesothelioma victims face financial strain when they are unable to continue earning an income. This can cause a loss of insurance at a time when you need it the most.
Under these circumstances, navigating the legal system, gathering documentation and trying to understand all the legal options can be overwhelming.
Some victims are surprised to learn they were exposed to asbestos and are unaware of how or when the exposure took place. Even if you are aware of a time when you were exposed, you may have had additional exposures.
Experienced asbestos lawyers are familiar with the companies and circumstances that precipitate exposure to asbestos fibers. The Lanier Law Firm’s mesothelioma attorneys can also take over the role of gathering documents and figuring out legal processes and options, including aiding in the determination of how and when you were exposed to asbestos products.
Can you pursue compensation for other asbestos-related diseases like asbestosis?
Mesothelioma is not the only injury that has been linked to asbestos exposure. As long as you can establish a causal link between your illness and asbestos exposure, you can file a claim for compensation through the asbestos trust fund, the VA, or a civil lawsuit.
Our law firm won a $4.69 billion verdict on behalf of 22 women who developed ovarian cancer from asbestos exposure in baby powder. However, you are not limited to lawsuits if you have developed conditions other than mesothelioma. The asbestos trust funds provide compensation for the following conditions in addition to mesothelioma:
- Lung cancer
- Other cancers if you have evidence of asbestos-related conditions such as pleural plaques, pleural thickening, or interstitial fibrosis on both sides of your lungs
- Pleural thickening that severely impacts lung function
Contact our award-winning mesothelioma law firm today if you have been developed with mesothelioma or any other condition that may have been caused by asbestos exposure.
Does asbestos trust fund compensation affect VA benefits?
An asbestos trust fund claim could affect your VA benefits depending on the type of benefits you receive. If you receive free medical care or disability compensation for your asbestos-related illness that stems from military service, your benefits will not be affected if you recover compensation through a trust fund claim.
However, if you receive a VA pension, your benefits could be affected. VA pensions are awarded based on need. They are only available to veterans with limited income and assets. Compensation from a trust fund claim could make you ineligible for this program or reduce your compensation.
However, an award from a trust fund claim could be significantly higher than the benefits you lose. Our talented and caring mesothelioma attorneys can look thoroughly at your entire financial situation and determine the course of action that will best serve your needs.
Why should I choose The Lanier Law Firm to handle my asbestos trust fund claim?
The Lanier Law Firm is a nationwide mesothelioma law firm with offices in New York City, Los Angeles and Houston. Our firm was established in 1990 with a compassionate and individualized approach to client care. Over the past 32 years, we have grown to a staff of more than 50 respected, award-winning attorneys.
Our attorneys are among the most qualified asbestos attorneys in the world. Many have been invited to speak at conferences and lead conventions about asbestos claims. We are well-known in the legal community for our litigation skills as well as our dedicated and sometimes non-traditional litigation methods.
Led by founder Mark Lanier, our creativity and relentlessness are rooted in our strong desire to obtain the compensation our clients need and to hold accountable those who carelessly harm others. When victims of asbestos exposure come to us, we obtain a detailed life and work history so we can identify all sources of asbestos exposure and pursue maximum compensation.
Trust claim cases are time-sensitive. As you may have seen in any mesothelioma commercial, don’t wait to contact an attorney if you have been diagnosed with mesothelioma or any other asbestos-related condition. We offer a free individual review and only charge a fee when we win you compensation.
Dwana Waltman, Maura Kolb, Sam Taylor, Darron Berquist, Mark Lanier, and our extensive team of mesothelioma lawyers and asbestos trust fund attorneys are here to help you and your family navigate the complex path to obtaining mesothelioma funds and compensation.