Asbestos Trust Fund List

Some bankrupt manufacturers of asbestos-containing products have established trust funds to compensate victims of mesothelioma and other asbestos-related diseases. Over 100 manufacturers of asbestos-containing products have created trust funds since the late 1980s, and many of these trusts are still active today.

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What Companies Have Asbestos Trust Funds?

As of 2020, most of the major manufacturers that made and sold asbestos-containing products have established trust funds. Asbestos trust funds allow these manufacturers to stay in business and avoid lawsuits.

Some of the biggest asbestos trust fund companies include:
  • Garlock Sealing Technologies

    In 2010, Garlock filed for bankruptcy amid increasing costs of asbestos-related lawsuits. Garlock’s parent company EnPro announced it would establish a $480 Million asbestos trust in 2016 to settle all asbestos claims.

  • Johns-Manville

    This construction company became the first to establish an asbestos trust fund in 1988. Its trust fund served as the template for almost every other trust fund that came after it.

  • Owens Corning Fibreboard

    This company established two separate asbestos trust funds in 2006. Today, these funds are valued at nearly $5 Billion when combined.

  • United States Gypsum

    Founded in 1901, this company relied on asbestos to make drywall and other building materials. Its trust fund, established in 2006, contains nearly $4 Billion.

  • WR Grace

    This company controlled or built major assets in the town of Libby, Montana, including an asbestos mine, the town hospital, and several schools. A 2009 report from the Guardian reported that nearly 40% of the town’s population was sick due to asbestos exposure, and over 200 had died from it. This manufacturer’s trust fund is valued at $3 Billion.

Beginning in the 1980s, hundreds of thousands of people have taken legal action against major manufacturers of asbestos-containing products.

These manufacturers knew that asbestos exposure could lead to deadly diseases like mesothelioma, but they hid the facts to keep making money. When the truth finally came out, these manufacturers faced a heavy influx of lawsuits.

According to the RAND Institute for Civil Justice, the manufacturers of asbestos-containing products had only a few options: They could fight the lawsuits in court to reach settlements or favorable trial verdicts, or they could file for bankruptcy to pay their debts.

By declaring bankruptcy, these manufacturers can either dissolve completely or set aside money in special trust funds to pay off as many victims as possible. Many larger companies chose the second option to stay in business. In return, the bankruptcy courts allowed these manufacturers to continue their operations without having to deal with current and future lawsuits.

Did You Know?

In total, asbestos trust funds contain over $30 Billion today.

The actual amount a person receives from these trust funds, however, can vary depending on their illness, how much the trust fund pays, and what trust funds a person can receive compensation from.

Why File a Trust Fund Claim?

Simply put, asbestos trust fund claims can award victims and their family members with financial compensation to help cover the expenses that come with asbestos-related illnesses.

Without treatment, many asbestos-related diseases — including mesothelioma — can be fatal in years or even months. In addition, the costs of treating these diseases can drive people into debt, even with insurance.

Trust fund money can help families pay for:

  • Medical expenses, such as treatments and therapies
  • Lost income if the affected person can no longer work
  • Other related expenses, such as an oxygen tank or wheelchair
  • Personal injury damages for pain and suffering
  • Travel expenses, as only a handful of doctors in the U.S. treat mesothelioma

By filing a trust fund claim, those with asbestos-related diseases can rest easier knowing that many of their medical expenses will be covered.

Asbestos Trust Fund List of Companies

As of 2020, over a dozen asbestos trust funds contain $1 Billion or more. Consult the asbestos trust fund list below to see which manufacturers established trust funds.

Please note that only active asbestos trust funds are listed, but you still may be able to file a claim even if the manufacturer that harmed you does not appear.

Billion-Dollar Asbestos Trust Funds

Million-Dollar Asbestos Trust Funds

To learn if you can file a claim with some of the manufacturers on this asbestos trust fund list, consult with an experienced mesothelioma lawyer today. These lawyers can determine which trust funds you may qualify for and quickly work to get you compensation.

It is not uncommon for someone to qualify for 30 or more asbestos trust funds. However, each case is different, so you may be able to receive compensation from more or fewer companies.

Civil Court Bankruptcy Protection

Manufacturers can file for bankruptcy in a few different ways, which are outlined as “chapters” in the United States Bankruptcy Code (USBC). Most manufacturers of asbestos-containing products filed for Chapter 7 or Chapter 11 bankruptcy. These bankrupt asbestos defendants can no longer be held legally accountable for asbestos-related diseases.

Chapter 7 Liquidation

Manufacturers file for Chapter 7 bankruptcy when they cannot pay all the money they owed to asbestos victims from lawsuits.

Under Chapter 7, the manufacturer sells its remaining assets (anything of monetary value), and the courts distribute the money to those who need it. This process is known as liquidation.

After the liquidation process, the manufacturer dissolves, meaning future claimants cannot seek compensation from it.

Many smaller manufacturers that made and sold asbestos-containing products could not pay all of their lawsuit settlements and verdicts, so they filed for Chapter 7 bankruptcy and closed their doors.

Chapter 11 Protection

Under Chapter 11 bankruptcy, companies can come up with a plan to pay their debts without shutting down.

Manufacturers going through Chapter 11 bankruptcy usually establish trust funds to pay current and future victims of asbestos-related diseases. These funds allocate millions of dollars on average to pay all victims based on the type and severity of their illnesses. In return, the manufacturer can no longer be sued.

Larger manufacturers of asbestos-containing products typically file for Chapter 11 bankruptcy, as they may have the ability to compensate victims over time through a trust fund.

Administering Asbestos Trust Funds

The asbestos trust funds named on the list above are controlled by third-party boards of trustees. The board for each trust aims to pay victims while keeping the trust financially stable for as long as possible.

Trust Funds and Solvency

To keep a trust fund active, it must have enough money to pay both current and future victims of asbestos exposure. This is known as solvency. To keep trust funds solvent, the boards of trustees will place the money in an investment portfolio consisting of stocks, bonds, and additional financial assets.

Ideally, the investments will earn enough money to keep the trust fund active so it can pay future debts. The balance of a trust will fluctuate based on these investments and the number of claims in a particular period.

Trust Fund Payments and Schedules

Asbestos trust funds pay victims based on a predetermined schedule. This allows the trust to gradually pay victims using the amount of funds in the trust, which may increase or decrease depending on the investments.

Further, the trusts award claimants based on what asbestos-related disease they were diagnosed with. Claimants with life-threatening conditions — such as mesothelioma — receive more money than those with less serious health issues.

Trust funds rarely pay the actual value of a claim in full, as most trusts couldn’t do this without dissolving completely. In these cases, the USBC allows trusts to set up payment percentages.

Through payment percentages, the trust can pay a small portion of what is fully owed to a victim for the good of all the others who may need compensation in the future.

For example, if a person is owed $100,000 from a trust, but the payment percentage is set at 1.5%, they will actually receive $1,500.

Anyone looking to receive money from a trust fund should consult with an experienced lawyer, who can inform them of payment percentages and other legal options.

Next Steps to Accessing Asbestos Trust Funds

As shown in the asbestos trust fund list above, many trusts remain active and still pay victims today. Though the amount of compensation can vary, these funds help families affected by mesothelioma and other asbestos-related diseases cover their medical expenses and remain financially stable during a difficult time.

To learn more about accessing money from the asbestos trust fund list, start a free legal case review today. Our team can help you learn how to receive trust fund money with help from a mesothelioma lawyer.

Mesothelioma Support Team
Stephanie KiddWritten by:

Editor-in-Chief

Stephanie Kidd grew up in a family of civil servants, blue-collar workers, and medical caregivers. Upon graduating Summa Cum Laude from Stetson University, she began her career specializing in worker safety regulations and communications. Now, a proud member of the American Medical Writers Association (AMWA) and Editor-in-Chief of the Mesothelioma Cancer Network, Stephanie serves as a voice for mesothelioma victims and their families.

View 6 Sources
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  2. Owens Corning. (2007). Owens Corning / Fibreboard Asbestos Trust. Retrieved January 8, 2020, from https://www.ocfbasbestostrust.com/.
  3. Rand Institute for Civil Justice. (2010, July 26). Asbestos Bankruptcy Trusts: An Overview of Trust Structure and Activity with Detailed Reports on the Largest Trusts. Retrieved January 7, 2020, from https://www.rand.org/content/dam/rand/pubs/technical_reports/2010/RAND_TR872.pdf.
  4. Reuters. (2016, March 18). EnPro, Garlock reach $480 million settlement on asbestos claims. Retrieved January 8, 2020, from https://www.reuters.com/article/us-enpro-industriesgarlock-asbestosclaim/enpro-garlock-reach-480-million-settlement-on-asbestos-claims-idUSKCN0WK0DP.
  5. U.S. Department of Justice. (2015, May 14). Overview Of Bankruptcy Chapters. Retrieved January 8, 2020, from https://www.justice.gov/ust/bankruptcy-fact-sheets/overview-bankruptcy-chapters.
  6. Walters, J. (2009, March 8). Welcome to Libby, Montana, the town that was poisoned. Retrieved January 8, 2020, from https://www.theguardian.com/world/2009/mar/08/usa-mining-libby-montana.
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