Asbestos Trusts for Mesothelioma Patients
In the 19760s, researchers in medicine and science definitively linked asbestos to cancer known as mesothelioma. By the 1980s, worldwide deaths from asbestos were growing at a large rate, and many countries restricted, phased out, or banned the use and manufacturing of asbestos.
The United States remains one of the few developed countries not to ban asbestos and it can still be found in products like clothing, pipeline wraps, vinyl floor tiles, millboards, cement pipes, disk brake pads, gaskets, and roof coatings. U.S. industry has a history of refusing to acknowledge the deadly nature of asbestos. Since the 1930s, multiple companies that relied on asbestos manufacturing or use for their profitability put employees and the public at risk by covering up the dangers of asbestos.
What is Mesothelioma?
Mesothelioma is a rare form of cancer found in the lining of the heart, lungs, abdomen, or internal reproductive organs. Mesothelioma is caused by inhaling or ingesting asbestos dust. The asbestos fibers come embedded in soft organ tissue and cannot be expelled causing scarring and inflammation over time. Mesothelial cells become abnormal, divide uncontrollably and tumors develop.
Mesothelioma can take years to develop and, once diagnosed, is characteristically very aggressive. The latency period (the time between exposure and development of cancer) for mesothelioma is often 20 to 40 years. By the time mesothelioma has been diagnosed, it is well established in the body. Currently, there are limited treatment options for mesothelioma and no cure. Once diagnosed with mesothelioma, the average life expectancy is under one year.
What is an Asbestos Trust Fund?
In the 1970s, the first legal cases of toxic asbestos exposure were tried. There were thousands of cases pending by 1988, causing several negligent companies to file for bankruptcy. Since mesothelioma can have a latency period from 20 to 40 years, the fear was that companies would use up funds for future victims. As a condition of granting bankruptcy requests, courts mandated that companies establish Asbestos Trust Funds and pay into them annually to provide compensation for future claimants.
Johns Manville established the first mesothelioma trust fund, and now over 100 trust funds have been established. Once trusts are funded, it becomes the sole source of compensation from bankrupt companies for asbestos-related injuries.
How the Trust Fund Works
The trust will use the company’s assets to collect and pay all valid asbestos personal injury claims filed by the claimants with the trust. The company is shielded against all current and future asbestos-related liability in reorganization. The bankruptcy court determines the money to be set aside for the trust-based on expert testimony and examining past lawsuits and settlements.
Independent trustees manage the trusts. Every trust manages investments that create more capital for asbestos victims. Trustees evaluate the trusts’ assets and expenses periodically and forecast an estimate of future claims. The trusts can lower the payment percentage if it appears they may be in danger of expending their funds prematurely.
The trusts coordinate the claim processing by assigning liquidated values for various diseases, setting medical criteria for the different conditions, following prescribed review procedures, and establishing alternative dispute resolution processes to resolve disputes between the claimant and the trust.
How much money is available in Mesothelioma Trust Funds?
The following is a list of asbestos companies with active, established trust funds. More than $30 billion is available.
| Company | Asbestos Trust Fund | Created | Initial Funding |
| A-Best Products | A-Best Asbestos Settlement Trust | 2004 | $18 million |
| A. P. Green Industries | APG Asbestos Trust | 2014 | $333 million |
| A.B.B. Global Inc. | Lummus 524(g) Asbestos Personal Injury Trust | 2006 | $38 million |
| ACandS, Inc. | ACandS Asbestos Settlement Trust | 2008 | $528 million |
| API, Inc. | API, Inc. Asbestos Settlement Trust | 2006 | $94 million |
| Armstrong World Industries | Armstrong World Industries, Incorporated Asbestos Personal Injury Settlement Trust | 2006 | $2.06 billion |
| ARTRA Group, Inc. | ARTRA 524(g) Asbestos Trust | 2007 | $74 million |
| Asarco, Inc. | ASARCO LLC Asbestos Personal Injury Settlement Trust | 2009 | $830 million |
| Asbestos Claims Management Corp./ National Gypsum Company | NGC Bodily Injury Trust | 1993 | $446 million |
| Babcock & Wilcox Company | Babcock & Wilcox Asbestos Trust | 2006 | $1.85 billion |
| Bondex | Bondex Trust | 2016 | $797.5 million |
| Burns & Roe Enterprises, Inc. | Burns & Roe Asbestos Personal Injury Settlement Trust | 2009 | $172 million |
| C.E. Thurston & Sons | C.E. Thurston & Sons, Inc. Asbestos Trust | 2006 | $53 million |
| Celotex Corporation/ Carey Canada, Inc. | Celotex Asbestos Settlement Trust | 1997 | $1.25 billion |
| Combustion Engineering | Combustion Engineering 524(g) | 2006 | $1.24 billion |
| Congoleum Corporation | Congoleum Plan Trust | 2010 | $270 million |
| Daimler Chrysler | Not yet established | ??? | ??? |
| DII Industries, LLC (Dresser Industries) | DII Industries, LLC Asbestos Personal Injury Trust | 2005 | $2.51 billion |
| Durabla | Not yet established | ??? | ??? |
| Eagle-Picher Corporation | Eagle-Picher Industries Personal Injury Settlement Trust | 1996 | $730 million |
| EJ Bartells Co., Inc. | Bartells Asbestos Settlement Trust | 2001 | $20 million |
| Federal Mogul Corp. | Federal Mogul U.S. Asbestos Personal Injury | 2007 | $690 million |
| Ferodo | Federal-Mogul Asbestos Personal Injury Trust – Ferodo Subfund | 2011 | $635 million |
| Flexitallic | Federal-Mogul Asbestos Personal Injury Trust – Flexitallic Subfund | 2011 | $635 million |
| Flintkote Co./ Flintkote Mines Ltd. | Flintkote Company & Flintkote Mines Limited Asbestos Personal Injury Trust | 2015 | $214 million |
| Garlock | Not yet established | ??? | ??? |
| General Motors | MLC Asbestos Personal Injury Trust | 2012 | $625 million |
| G-I Holdings | G-1 Asbestos Settlement Trust | 2009 | $770 million |
| Hercules Chemical | Hercules Chemical Company, Inc. Asbestos Settlement Trust | 2011 | $8.6 million |
| H. K. Porter Co., Inc. | H. K. Porter Asbestos Trust | 1998 | n/a |
| J. T. Thorpe (C.D. Cal.) | J.T. Thorpe Settlement Trust | 2006 | $154 million |
| J. T. Thorpe (S.D. Tex.) | J.T. Thorpe Company Successor Trust | 2004 | $232 million |
| Johns-Manville Corp./ Philadelphia Asbestos Corp. (Pacor) | Manville Personal Injury Settlement Trust | 1988 | $2.5 billion |
| Kaiser Aluminum Corp. | Kaiser Asbestos Personal Injury Trust | 2006 | $1.22 billion |
| Kaiser Gypsum | Not yet Established | ??? | ??? |
| Keene Corp. | Keene Creditors Trust | 1996 | $45 million |
| Kentile | Metex Asbestos Personal Injury Trust | 2015 | $193 million |
| Leslie Controls | Leslie Controls, Inc. Asbestos Personal Injury Trust | 2011 | |
| MacArthur Co./ Western Asbestos Company | Western Asbestos Settlement Trust | 2004 | $2 billion |
| Maremont Corporation | Maremont Asbestos Personal Injury Trust | 2019 | $28 million |
| North American Refractories Co. (NARCO) | North American Refractories Co. Asbestos Personal Injury Settlement Trust | 2013 | $420 million |
| Owens Corning | Owens Corning Fibreboard Asbestos Personal Injury Trust | 2006 | $3.42 billion |
| Owens Corning/ Fibreboard Corp. | Owens Corning Fibreboard Asbestos Personal Injury Trust | 2006 | $1.56 billion |
| Pittsburgh Corning | Pittsburgh Corning Corporation Asbestos Personal Injury Trust | 2013 | $3.41 billion |
| Plant Insulation Company | Plant Insulation Company Asbestos Settlement Trust | 2012 | $242.8 million |
| Plibrico Co. | Plibrico Asbestos Trust | 2006 | $206 million |
| Porter-Hayden Co. | Porter Hayden Bodily Injury Trust | 2006 | <$1 million |
| Quigley Co. | Quigley Company, Inc. Asbestos Personal Injury Trust | 2013 | $569 million |
| Raymark Corp./ Raytech Corp. | Raytech Corporation Asbestos Personal Injury Settlement Trust | 2000 | n/a |
| Shook & Fletcher Insulation Co. | Shook & Fletcher Asbestos Settlement Trust | 2002 | $109 million |
| T. H. Agriculture & Nutrition | T. H. Agriculture & Nutrition, LLC Asbestos Personal Injury Trust | 2009 | $901 million |
| Thorpe Insulation Co./ Pacific Insulation Co. | Thorpe Insulation Co. Asbestos Personal Injury Settlement Trust | 2006 | $389 million |
| Turner & Newall | Federal-Mogul Asbestos Personal Injury Trust – Turner & Newall Subfund | 2007 | $635 million |
| United Gilsonite | Not yet established | ??? | ??? |
| United States Gypsum Co./ USG Corp. | United States Gypsum Co. Asbestos Personal Injury Settlement Trust | 2006 | $3.96 billion |
| United States Mineral Products | United States Mineral Products Co. Asbestos Personal Injury Settlement Trust | 2005 | $8 million |
| UNR Industries, Inc./ Unarco Industries, Inc. | UNR Asbestos-Disease Claims Trust | 1990 | n/a |
| W.R. Grace & Co. | WRG Asbestos Personal Injury Trust | 2014 | $2.98 billion |
| Yarway | Yarway Asbestos Personal Injury Trust | 2016 | $325 million |
Mesothelioma patients have many legal options for filing compensation claims in the courts or an asbestos trust fund. Consult with an attorney at Goldberg, Persky & White to discuss your mesothelioma case so that we can evaluate your claim and guide you through the legal process.
