Major Asbestos Bankruptcy Trust Funds
When asbestos manufacturers filed for Chapter 11 bankruptcy, federal courts required them to establish independently administered trusts to ensure that current and future claimants would receive compensation. Each trust has its own claim criteria, payment percentages, and disease categories. A claimant who was exposed to products from multiple manufacturers can file claims with multiple trusts concurrently.
| Trust Name | Original Company | Est. Available | Key Products |
|---|---|---|---|
| Manville Personal Injury Settlement Trust | Johns-Manville Corporation | $2B+ | Pipe insulation, roofing products, joint compound, ceiling tiles |
| Owens Corning / Fibreboard Trust | Owens Corning; Fibreboard Corp. | $1.7B | Kaylo pipe insulation; Pabco insulation products |
| Pittsburgh Corning Trust | Pittsburgh Corning Corp. | $3B | Unibestos pipe insulation; block insulation for industrial facilities |
| Armstrong World Industries Trust | Armstrong World Industries | $2.5B | Vinyl floor tiles, ceiling tiles, adhesives |
| W.R. Grace Trust | W.R. Grace & Co. | $4B | Monokote fireproofing spray; Zonolite attic insulation; Sprayed-on acoustical materials |
| Eagle-Picher Industries Trust | Eagle-Picher Industries | $800M | Thermal insulation, gaskets, friction products |
| Combustion Engineering Trust | ABB Asea Brown Boveri (CE) | $1.6B | Boiler insulation, refractory products for power plants and industrial boilers |
| Celotex Trust | Celotex Corporation / Jim Walter | $500M | Roofing products, ceiling tiles, insulation board |
| Babcock & Wilcox Trust | Babcock & Wilcox Company | $4.2B | Boiler insulation, naval vessel components, industrial pipe insulation |
| Halliburton / DII Industries Trust | Dresser Industries / Harbison-Walker | $4.2B | Refractory bricks and cements; high-temperature industrial insulation |
| Plibrico Trust | Plibrico Company | $100M+ | Refractory products; furnace linings; castable refractory cements |
| Harbison-Walker Trust | Harbison-Walker Refractories | $300M+ | Refractory products; kiln linings; high-temperature industrial applications |
Estimated trust assets fluctuate as claims are paid and investment returns are realized. These figures represent approximate availability as of the time of publication. An experienced asbestos attorney will have current figures and payment percentage schedules for each trust.
How Asbestos Trust Fund Claims Work
Unlike a traditional lawsuit, asbestos trust fund claims are processed through an administrative system established by each trust’s governing document, called the trust distribution procedures (TDP). This system is designed to process high volumes of claims fairly and efficiently without requiring individual trials.
- Attorney reviews your exposure history. A specialized asbestos attorney gathers your work history, medical records, and product exposure information. Many people qualify for claims with multiple trusts simultaneously — one for each manufacturer whose products they worked with.
- Attorney identifies applicable trusts. Based on your exposure history, the attorney identifies which trusts cover the manufacturers whose products you were exposed to. This matching process draws on extensive databases of products used at thousands of job sites nationwide.
- Claims are filed with each trust. The attorney submits a formal claim package to each applicable trust, including medical documentation, work history affidavits, and product identification evidence. Claims with different trusts are filed simultaneously.
- The trust reviews the claim. Each trust reviews the submission against its TDP criteria. Some trusts allow "expedited review" for certain disease categories (particularly mesothelioma) with fixed payment schedules, which speeds resolution significantly.
- Payment is issued. Approved claims are paid at the trust’s current payment percentage. Trusts that are in good financial health pay higher percentages; trusts with high claim volume pay lower percentages to ensure funds remain for future claimants. Payment typically arrives within weeks to a few months of approval.
Expedited vs. Individual Review
Most trusts offer two review tracks. Expedited review provides a fixed payment from a schedule based on disease type and trust-specific criteria — fast, predictable, and no negotiation required. Individual review allows claimants to submit additional evidence of extraordinary damages for a potentially higher (but less certain) recovery. Mesothelioma claims almost always qualify for expedited review. Your attorney will advise which track is optimal for your situation.
Trust Fund Claims vs. Lawsuits: How They Compare
| Factor | Trust Fund Claim | Personal Injury Lawsuit |
|---|---|---|
| Who you’re claiming against | Bankrupt companies (no longer operating) | Solvent companies still operating |
| Process | Administrative; reviewed by trust administrators | Legal; filed in court, subject to discovery and possible trial |
| Speed | Weeks to months per claim | Months to years to resolution |
| Certainty | High; expedited review provides fixed schedule | Variable; depends on negotiation or jury verdict |
| Potential award | Moderate; fixed by TDP schedule × payment % | Higher; no cap in most jurisdictions |
| Can be combined? | Yes — trust claims and lawsuits can proceed simultaneously against different defendants | |
The optimal strategy for most mesothelioma patients is to pursue both pathways simultaneously. Trust fund claims provide earlier, more certain income while a lawsuit against solvent defendants works through the legal process. Your attorney can coordinate both tracks to maximize total compensation without delay.
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Frequently Asked Questions
Processing time varies by trust and review track. Under expedited review — the standard route for mesothelioma claims — most trusts issue decisions within 30 to 90 days of receiving a complete claim submission. Some well-funded trusts with streamlined administration process claims even faster. Individual review cases, where additional evidence is submitted for a potentially higher award, can take 6–12 months. Because claims with multiple trusts are filed simultaneously, total compensation from all trust claims is often received within 3–6 months of filing. Payment typically follows a few weeks after the claim is approved.
Recovery from trust fund claims depends on three factors: the number of trusts you qualify for, each trust’s scheduled value for your disease category, and each trust’s current payment percentage. Mesothelioma typically carries the highest scheduled values. For example, if a trust’s scheduled value for mesothelioma is $200,000 and the payment percentage is 25%, you would receive $50,000 from that trust alone. If you qualify for claims with 5, 8, or 15 different trusts — which is not uncommon for workers with lengthy industrial careers — those payments aggregate substantially. Many mesothelioma patients receive $300,000 to over $1 million in total trust fund payments alone, before factoring in any lawsuit settlement. Your attorney can estimate total trust fund exposure based on your specific product history.