Asbestos Trust Funds Companies List

American companies mined over 800,000 tons of asbestos between the 1920s and the 1980s. Hundreds of companies frequently used asbestos, turning raw material into thousands of finished products despite knowing it was dangerous. They now have billions of dollars set aside in asbestos trusts to pay victims the money they deserve.

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Asbestos Companies with Trust Funds

Lawsuits over asbestos exposure have gone on for over 40 years. This is the longest-running mass tort in American history.

Many of the companies that were found to be responsible for widespread injury and death have filed for bankruptcy, forming bankruptcy trust funds to pay claims on their behalf.

Some companies were even found to have been hiding the deadly truth about asbestos exposure. Companies such as Johns-Manville were paying out claims in secret so they could continue using the poisonous material.

When the public began to find out, the courts were flooded with lawsuits. Larger companies sought bankruptcy protection through the courts.

When bankruptcy trusts are created: 

  • Companies may be able to stay in business.
  • Companies can no longer be sued because victims can get compensation from the trust fund.
  • Victims who developed mesothelioma can take legal action to get money through the trusts.

Asbestos Victims Legal Rights

Innocent victims who developed asbestos-caused diseases like mesothelioma, lung cancer, and asbestosis were forced to sue asbestos producers, manufacturers, and suppliers for compensation.

This compensation could help pay for:

  • Medical costs
  • Lost income
  • Specialized living equipment
  • Personal injury damages for pain and suffering

Mass lawsuits forced many smaller companies out of business. They weren’t able to cover court-ordered awards and filed for bankruptcy to pay for settlements.

Larger companies with deep pockets took a different approach. They sought bankruptcy protection through the courts. This gave time to restructure and use a specialized legal mechanism called trust accounts. These accounts to limited the companies’ responsibility and allowed them to stay in business.

Civil Court Bankruptcy Protection

The United States Bankruptcy Code (USBC) is a long and complicated piece of legislation. Lawyers may need to study for years to understand it. Since the mid-1980s, companies have used bankruptcy codes to protect themselves.

The American asbestos disaster saw many companies use the USBC as a means to protect their long-term financial interests. The USBC also helped reduce their legal liability for causing so many people to become ill or die after being exposed to their asbestos-made products.

Most financial settlements for mesothelioma patients come from bankruptcy trust funds, rather than from awards decided by court verdicts.

There are two main mechanisms in the USBC that victims of mesothelioma and other asbestos-caused diseases need to know.

Asbestos companies had two USBC options when facing lawsuits:

Chapter 7 Liquidation

Bankrupt companies were forced into liquidation when they couldn’t pay all the lawsuit awards.

Chapter 7 Bankruptcy forces a company to have a trustee sell all assets and turn the funds over for court-ordered distribution. Asbestos companies dissolving under Chapter 7 liquidation have no value to current claimants for asbestos-related disease compensation.

Many of the smaller companies that used asbestos materials could not pay all of the lawsuit awards. This forced most to file for Chapter 7 Bankruptcy and disappear.

Chapter 11 Protection

Solvent companies are those that have enough money to pay their debts. Solvent companies that were named in asbestos claims used the USBC Chapter 11 provisions to stop ongoing lawsuits.

Under Chapter 11 Bankruptcy, companies are allowed to restructure. They are granted time to fix the problems they face without having to liquidate and they are able to make negotiated settlements while they carry on with business.

Some companies merged, renamed, or deregistered. However, big and wealthy corporations petitioned the courts for legal protection. As a result, financially-sound businesses were allowed to fund specialized trust accounts for present and future settlements.

These settlement trust funds were administered by a third-party trustee. The asbestos-supplying companies were no longer liable for damages, nor open to future lawsuits.

Over 100 asbestos bankruptcy trust funds have been established in the United States since the mid-1980s.

Access Asbestos Trust Funds

If you have mesothelioma, you may be able to access asbestos trust funds. Over $30 Billion is currently available. Connect with us to see if you qualify.

See If You Qualify

Administering Asbestos Bankruptcy Trust Funds

A third-party board of trustees is responsible for administering asbestos trust funds.

These trustees are advised by committees to help manage the funds set aside by the companies who filed for Chapter 11 Bankruptcy.

Trust Fund Payments and Schedules

At least a dozen trust funds have equities exceeding $1 billion. In total, bankruptcy trust funds have approximately $30 billion currently available to give to qualified applicants.

Criteria for qualification depends on the trust fund and how it is administered.

Most asbestos bankruptcy trust funds have a schedule of values they pay to qualified claimants. Completely impaired claimants receive higher settlements than mildly affected ones. However, claimants are rarely paid the total value of what the schedule dictates.

Many only receive dimes on the dollar according to what funds the trust retains and how they project future claims will need to be administered.

Trust Funds and Solvency

Asbestos bankruptcy trust funds are moving targets. Once an asbestos company funds the trust, they’re completely released from future responsibility, and they cannot be sued.

The trustee normally consists of a board of governors who invest the main funds in order to make sure claims can be paid. The fund balance goes up and down depending on the investment returns and what claims are paid in a particular period.

List of Solvent and Active Trust Fund Companies

Not every trust fund that was established remains active. Some trusts exhausted their funds and are now unable to make any more payments to asbestos exposure victims. They’ve been closed and deregistered.

Also, some trusts are proposed but not yet defined by Chapter 11 restructuring. These are the top remaining an active asbestos bankruptcy trust funds.

Active Trust Fund Companies

The names of companies with over $1 billion in assets appear in bold.

  • A-Best Products — A-Best Asbestos Settlement Trust
  • A.P. Green Industries — APG Asbestos Trust
  • A.B.B. Global Inc. — Lummus 524(g) Asbestos Personal Injury Trust
  • A&I Corporation — A&I Corporation Asbestos Bodily Injury Trust
  • A, C & S Inc. — A, C & S Asbestos Settlement Trust
  • API, Inc. — API, Inc. Asbestos Settlement Trust
  • Armstrong World Industries — AWI Inc. Asbestos Personal Injury Settlement Trust
  • ARTRA Group — ARTRA 524(g) Asbestos Trust
  • Asarco, Inc. — ASARCO LLC Asbestos Personal Injury Settlement Trust
  • Asbestos Claims Management Corp./National Gypsum Company — NGC Bodily Injury Trust
  • Babcock & Wilcox Company — Babcock & Wilcox Asbestos Trust
  • Bondex — Bondex Trust
  • Burns & Roe Enterprises Inc. — Burns & Roe Asbestos Personal Injury Settlement
  • C.E. Thurston & Sons — C.E. Thurston & Sons, Inc. Asbestos Trust
  • Celotex Corporation/Carey Canada, Inc. — Celotex Asbestos Settlement Trust
  • Combustion Engineering — Combustion Engineering 524(g) Asbestos Personal Injury Trust
  • Congoleum Corporation — Congoleum Plan Trust
  • Dresser Industries — DII Industries LLC Asbestos Personal Injury Trust
  • Eagle Pitcher Corporation — Eagle Pitcher Industries Personal Injury Settlement Trust
  • Federal Mogul Corp.  — Federal Mogul U.S. Asbestos Personal Injury
  • Ferodo — Federal-Mogul Asbestos Personal Injury Trust – Ferodo Subfund
  • Flexitallic — Federal-Mogul Asbestos Personal Injury – Flexitallic Subfund
  • Flintkote Co./Flintkote Mines Ltd. — Flintkote Company and Flintkote Mines Limited Asbestos Personal Injury Trust
  • General Motors — MLC Asbestos Personal Injury Trust
  • Global Industrial Technologies (Harbison-Walker) — DII Industries LLC Asbestos Personal Injury Trust
  • G-1 Holdings — G-1 Asbestos Settlement Trust
  • Hercules Chemical — Hercules Chemical Company Inc. Asbestos Settlement Trust
  • H.K. Porter Co. Ltd. — H.K. Porter Asbestos Trust
  • J.T. Thorpe (C.D. Cal) — J.T. Thorpe Settlement Trust
  • J.T. Thorpe (S.D. Tex.) — J.T. Thorpe Company Successor Trust
  • Johns-Manville Corp./Philadelphia Asbestos Corp. (Pacor) — Manville Personal Injury Settlement Trust
  • Kaiser Aluminum Corp. — Kaiser Asbestos Personal Injury Trust
  • Keene Corp. — Keene Creditors Trust
  • Kentile — Metex Asbestos Personal Injury Trust
  • Leslie Controls — Leslie Controls, Inc. Asbestos Personal Injury Trust
  • MacArthur Co./Western Asbestos Company — Western Asbestos Settlement Trust
  • National Gypsum — NGC Bodily Injury Trust
  • North American Refractories Co. (NARCO) — North American Refractories Company Asbestos Personal Injury Settlement Trust
  • Owens Corning — Owens Corning Fiberboard Asbestos Personal Injury
  • Pittsburgh Corning — Pittsburgh Corning Corporation Asbestos Personal Injury Trust
  • Plant Insulation Company — Plant Insulation Company Asbestos Settlement Trust
  • Pilbrico Co. — Pilbrico Asbestos Trust
  • Porter-Hayden Co.— Porter-Hayden Bodily Injury  Trust
  • Quigley Co. — Quigley Co. Inc. Asbestos Personal Injury Trust
  • Raymark Corp. Raytech Corp. — Raytech Corporation Asbestos Personal Injury Settlement Trust
  • Shook & Fletcher Insulation Co. — Shook & Fletcher Asbestos Settlement Trust
  • T.H. Agriculture & Nutrition — T.H. Agriculture & Nutrition LLC. Asbestos Personal Injury Trust
  • Thorpe Insulation Co./Pacific Insulation Co. — Thorpe Insulation Company Asbestos Personal Injury Settlement Trust
  • Turner & Newall — Federal-Mogul Asbestos Personal Injury Trust – Turner & Newall Subfund
  • United States Gypsum Co./USG Corp. — United States Gypsum Asbestos Personal Injury Settlement Trust
  • United States Mineral Products — U.S. Mineral Products Company Asbestos Personal Injury Settlement Trust
  • UNR Industries/UNARCO Industries Inc. — UN Asbestos-Disease Personal Injury Trust
  • W.R. Grace & Co. — WRG Asbestos Personal Injury Trust
  • Yarway — Yarway Asbestos Personal Injury Trust

If the company you worked for does not appear on the following list, you may still be able to file a claim. To learn if you can file, you should speak with a mesothelioma lawyer.

Accessing Asbestos Bankruptcy Trust Funds

Identifying the company responsible for exposing workers to asbestos fibers is challenging.

Developing a legitimate claim depends on proving that a certain workplace was the setting that caused a claimant’s disease, but that is only half the battle. The other part is establishing that a specific manufacturer’s product was the culprit. Once that groundwork is set, an application to a trust fund has merit.

Mesothelioma attorneys have detailed information on what occupations, job sites, and asbestos products historically caused claimants to develop asbestos-related illnesses.

Building a trust fund access case takes experience outside the realm of regular personal injury litigation. Establishing circumstances that fit an overall negligence pattern is what asbestos law firms do.

Next Steps to Access Asbestos Trust Funds

As shown in the list above, there are many asbestos trust funds that are still active today. Accessing an asbestos trust fund can help victims of mesothelioma pay bills and get care for their illness.

Getting access to the funds can be complicated, but mesothelioma lawyers can help. For more information on how you may be able to access asbestos trust funds, start a free case review today.

Author:Stephanie Kidd

Editor-in-Chief of the Mesothelioma Justice Network

Stephanie Kidd

Stephanie Kidd works tirelessly as a dedicated advocate for the vulnerable and underrepresented. Stephanie worked as a copywriter for an agency whose focus was communicating safety procedures on construction work sites. With her extensive background in victim advocacy and a dedication to seeing justice done, Stephanie works hard to ensure that all online content is reliable, truthful and helpful.

Last modified: September 16, 2019

View 4 Sources
  1. Mealey’s Asbestos Bankruptcy Report, Retrieved from http://www.marshalldennehey.com/media/pdf-articles/O%20413%20by%20J.%20Hare%20%26%20D.%20Ryan%20%2804.2016%29%20Mealey%27s%20Asbestos%20Bankruptcy%20Report.pdf Accessed on 13 January 2018
  2. Rand Corporation, Institute for Civil Justice, “Asbestos Litigation”, Retrieved from https://www.rand.org/content/dam/rand/pubs/monographs/2005/RAND_MG162.pdf Accessed on 13 January 2018
  3. S. Todd Brown, Bankruptcy Trusts, “Transparency and the Future of Asbestos Compensation”, Retrieved from http://widenerlawjournal.org/files/2014/05/Brown_V23I1.pdf Accessed on 13 January 2018
  4. LexisNexis Litigation Newsroom, “Asbestos Bankruptcy Trusts: A 2013 Overview of Trust Assets, Compensation & Governance”, Retrieved from https://www.lexisnexis.com/legalnewsroom/litigation/b/litigation-blog/archive/2013/12/11/asbestos-bankruptcy-trusts-a-2013-overview-of-trust-assets-compensation-amp-governance.aspx Accessed on 13 January 2018
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