Asbestos Trust Funds

Asbestos companies that declare bankruptcy are required to establish mesothelioma trust funds to help the victims of asbestos harmed by the company’s products.

As of March 2024, an estimated $30 billion is still available from over 100 companies, so there’s enough money for all future claimants with asbestos-related diseases.

Call (800) 326-8900 now to learn if you may be eligible to receive asbestos trust fund compensation.

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Simmons Hanly Conroy Partner Randy Cohn with a mesothelioma client in the office

What Are Asbestos Trust Funds?

As mesothelioma and asbestos lawsuit filings increased in the late 1900s, many asbestos companies responded by filing for bankruptcy to try to avoid having to pay for their wrongdoings.

The courts then required these bankrupt companies to put money aside in an asbestos trust for future victims of the company’s dangerous products.

Today, it’s estimated that more than $30 billion has been set aside in these trusts to help victims of asbestos exposure and their families.

Our firm has a dedicated bankruptcy department, led by senior attorneys, to determine our clients’ exposure history and file claims on their behalf.

A few of the companies with asbestos trust funds are:

Who Can File Mesothelioma Fund Claims?

Generally speaking, you may be able to file an asbestos or mesothelioma fund claim if you or a loved one was:

  • Diagnosed with an asbestos-related disease (like mesothelioma or lung cancer)
  • Exposed to an asbestos-containing product that was made by a company with a trust

If the asbestos company doesn’t have a trust fund set up, your lawyers may be able to secure compensation from other types of mesothelioma legal claims instead.

Even if your loved one has already passed away, you may still be able to file a claim on their behalf as a family member or spouse.

See if you qualify for compensation from an asbestos trust fund. Call (800) 326-8900 or submit a contact form now for a free legal consultation.

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How Do Asbestos Trust Funds Work?

Mesothelioma patients can submit claims to asbestos trust funds that were set up by the bankrupt companies responsible for their asbestos exposure.

The asbestos trust then provides financial compensation for those claims if the victim can prove they were exposed to the company’s product(s).

In addition to asbestos trust fund claims, patients and their families may also be able to file a mesothelioma lawsuit against any asbestos companies that have not already declared bankruptcy and created a trust fund.

Our attorneys will develop a legal strategy for your case that targets all potential sources of compensation, including asbestos trust fund claims.

Filing Multiple Asbestos Claims

It’s also important to remember that asbestos exposure and mesothelioma may be caused by more than one company’s negligence, and all companies should be held responsible.

Since many of the companies that filed for bankruptcy were leaders in the asbestos industry, it’s possible you may be able to file more than one asbestos claim if you have an asbestos-related illness.

Nationwide, we’ve helped asbestos exposure victims and their families recover more than $9.7 billion. We’ll do everything we can to get you the results you deserve.

Pursuing Asbestos Trust Fund Payouts

As a leading mesothelioma law firm nationwide, Simmons Hanly Conroy can help you with every step of the legal process, fighting on your behalf for the best results possible.

Filing claims with asbestos trusts can often help clients receive compensation more quickly — and without having to go to court.

The process of filing an asbestos trust fund claim generally follows these steps:

Step 1

Contact Asbestos Attorneys

With centuries of cumulative experience, our asbestos attorneys have successfully filed thousands of claims against some of the largest asbestos bankruptcy trusts.

Our team can handle every step of the legal process on your behalf — for no out-of-pocket costs or hourly fees. We only get paid if your case results in compensation.

Call (800) 326-8900 or fill out our contact form now to get started. A member of our team will ask a few questions to help determine your eligibility.

Step 2

Gather Asbestos Exposure Evidence

At Simmons Hanly Conroy, we can gather the evidence to prove your exposure, determine which products you were exposed to and when, and then file any asbestos fund claims or lawsuits for you.

If you were exposed to multiple asbestos-containing products, you may qualify for compensation from multiple trusts, which we can determine for you.

Step 3

File Your Claim for Review

Then, our team will recommend either an expedited review or an individual review of your claim(s):

  • Expedited Review: Most trusts have determined a set payout amount for claims meeting certain requirements. This means every qualifying claim that involves the same disease gets awarded the same amount.
  • Individual Review: In some cases, our lawyers may be able to secure more money from an individual review. However, this process can take longer and may not secure greater results.

Step 4

Receive Asbestos Claims Payouts

Regardless of how your case is reviewed, we’ll do everything we can to get you as much compensation as quickly as possible.

After reviewing and approving your claim, the asbestos trust fund will provide you with compensation.

While payout timelines vary from trust to trust, clients often start to see payments within a couple months.

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Asbestos Trust Fund List

Several companies that mined asbestos, produced asbestos products or used asbestos in production processes have filed for Chapter 11 bankruptcy protection and reorganized.

The bankruptcy courts required these companies to set up trust funds to compensate current and future individuals with valid asbestos personal injury trust claims.

The following is just a partial list of asbestos companies with established trust funds.

CompanyAsbestos Trust FundCreated
A.P. GreenAPG Asbestos Trust2014
ABB Lummus GlobalABB Lummus Global Inc. 425(g) Asbestos PI Trust2007
A-Best ProductsA-Best Asbestos Settlement Trust2006
AC&SACandS Asbestos Settlement Trust2009
API, Inc.API, Inc. Asbestos Settlement Trust2006
Armstrong World IndustriesArmstrong World Industries Asbestos Personal Injury Settlement Trust2006
ARTRA Group, Inc.Artra 524(g) Asbestos Trust2007
ASARCO, LLCASARCO LLC Asbestos Personal Injury Settlement Trust2009
Babcock & Wilcox Co.Babcock & Wilcox Company Asbestos Personal Injury Settlement Trust2006
Bondex International/Special Products Holding Corp.Bondex Asbestos Personal Injury Trust2016
Brauer Supply Co.Brauer524(g) Asbestos Trust2012
Burns & Roe Construction GroupBurns & Roe Asbestos Personal Injury Settlement Trust2010
Burns & Roe Enterprises, Inc.Burns & Roe Asbestos Personal Injury Settlement Trust2010
C.E. ThurstonC.E. Thurston and Sons Asbestos Trust2006
Celotex Corp.Celotex Asbestos Settlement Trust1997
Christy Refractories Co. LLCChristy Refractories Asbestos Personal Injury Trust2012
Combustion EngineeringCombustion Engineering 524(g) Asbestos PI Trust2006
Congoleum Corp.Congoleum Plan Trust2011
DuroDyne National Corp.Duro Dyne Asbestos Personal Injury Trust2021
Eagle Picher IndustriesEagle Picher Industries Inc. Personal Injury Settlement Trust1996
Fairbanks International Inc.Fairbanks International Inc.2023
Federal Mogul (T&N, Flexitallic, Ferodo)Federal Mogul Asbestos Personal Injury Trust- Turner & Newall Subfund2007
Flintkote Co./Flintkote MinesFlintkote Asbestos PI Trust2015
Fuller-AustinFuller-Austin Asbestos Settlement Trust1999
Garlock Sealing Technologies, LLC (Anchor Packing Company and Garrison)Garlock Settlement Trust2018
General Motors Corp.Motors Liquidation Company Asbestos PI Trust (General Motors)2012
George V. Hamilton Inc.Geo. V Hamilton, Inc. Asbestos Trust2019
G-I Holdings, Inc.G-I Holdings Inc. Asbestos Personal Injury Trust2010
Global Industrial Technologies (Harbison-Walker)DII Industries, LLC Asbestos PI Trust2005
H.K. Porter Co.H.K. Porter Asbestos Trust 2008
Hercules Chemical Co.Hercules Chemical Company, Inc. Asbestos Settlement Trust 2010
J.T. Thorpe Co.J.T. Thorpe Company Successor Trust (TX)2004
J.T. Thorpe Inc.J.T. Thorpe Settlement Trust (CA)2006
Kaiser AluminumKaiser Aluminum & Chemical Corporation Asbestos Personal Injury Trust2006
Keene Corp.Keene Creditors Trust2006
Kentile FloorsMetex Asbestos PI Trust2015
Leslie Controls, Inc.Leslie Controls, Inc. Asbestos Personal Injury Trust 2012
Maremont CorporationMaremont Asbestos Personal Injury Trust2019
Mid-Valley Inc. (Halliburton)DII Industries, LLC Asbestos PI Trust (HAL)2005
National GypsumNGC Bodily Injury Trust1993
North American Refractories Corp. (NARCO)North American Refractories Company Asbestos Personal Injury Settlement Trust2013
Oakfabco Inc.Oakfabco Liquidating Trust2019
Owens Corning Corp.Owens Corning Fibreboard Asbestos Personal Injury Trust
– Owens Corning Subfund
Owens Corning FibreboardOwens Corning Fibreboard Asbestos Personal Injury Trust
– Fibreboard Subfund
Pittsburgh CorningPittsburgh Corning Corporation Asbestos Personal Injury
Settlement Trust
Plant Insulation Co.Plant Asbestos Settlement Trust 2014
Plibrico Co.Plibrico 524(g) Trust2006
Porter-Hayden Co.Porter Hayden Bodiy Injury Trust2007
Quigley Co.Quigley Company, Inc. Asbestos PI Trust2014
Rapid American Corp.Rapid-American Asbestos Personal Injury Liquidating Trust2022
Raymark Corp./Raytech Corp.Raytech Corporation Asbestos Personal Injury Settlement Trust 2010
SEPCOSepco Asbestos PI Trust2020
Shook and FletcherShook & Fletcher Asbestos Settlement Trust2004
State Insulations Corp.State Insulation Corporation Asbestos PI Trust2016
Swan Transportation Co.Swan Asbestos and Silica Settlement Trust2003
T.H. Agriculture and Nutrition, LLCT.H. Agriculture & Nutrition, LLC Asbestos Personal Injury Trust2009
Thorpe Insulation Co.Thorpe Insulation Company Asbestos Personal Injury Settlement Trust2010
United Gilsonite LaboratoriesUnited Gilsonite Laboratories Asbestos Personal Injury Trust2015
United States Mineral ProductsUnited States Mineral Products Company Asbestos PI Settlement Trust2008
USG Corp.United States Gypsum Asbestos Personal Injury Settlement Trust2006
Utex IndustriesUtex Industries, Inc. Successor Trust2005
W.R. GraceW.R. Grace & Co. Asbestos Personal Injury Settlement Trust2014
Western MacArthur/Western AsbestosWestern Asbestos Settlement Trust2004
Yarway CorporationYarway Asbestos Personal Injury Trust2015

Not sure which trust funds you qualify for? Let us help you.

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Mesothelioma Settlement Funds: Our Past Results

In one case, a 75-year-old U.S. Navy veteran from the Midwest was employed for almost 15 years as a pipeline inspector in the oil industry.

He was diagnosed with pleural mesothelioma and wanted to seek justice from the companies that knowingly exposed him to asbestos decades ago.

Although he wanted to take legal action, he wasn’t sure which products he was exposed to.

By contacting our firm, he was able to get help:

  • Pinpointing which asbestos products he was exposed to during his military service and work afterwards
  • Submitting claims with multiple asbestos trust funds
  • Filing mesothelioma lawsuits against several shipbuilding companies

Results: Our client received $2.4 million from mesothelioma fund claims, while the additional asbestos lawsuit settlements brought his total results to over $3 million.

His Asbestos Claim Payouts

  • $345,351 Asbestos Company Trusts
  • $63,611 Pipe Company Trusts
  • $1,137,651 Insulation Company Trusts
  • $280,930 Valves Company Trusts
  • $600,000 Other Trusts

The awarded mesothelioma settlement funds allowed him to afford treatment with a mesothelioma specialist that wasn’t covered by his insurance. It also gave him enough money to provide for his family after his passing.

Determining Asbestos Payout Amounts

Asbestos payout amounts from trusts vary according to a number of specific factors in each case, such as the:

  • Asbestos-related illness you’ve been diagnosed with
  • Extent of your exposure to asbestos
  • Severity of this illness and its effect on your well-being
  • Number of asbestos products you were exposed to by each company
  • Payment percentages set up by the trust during reorganization

As a leading national mesothelioma law firm, Simmons Hanly Conroy has the resources and experience to help victims of asbestos exposure nationwide get the compensation they deserve.

We’ve recovered over $9.7 billion for thousands of asbestos clients across the country so far.

Get a free consultation now to see if we can help your family.

Simmons Hanly Conroy building in Alton, IL

How Simmons Hanly Conroy Handles Mesothelioma Funds

Since many of the companies that filed for bankruptcy were leaders in the asbestos industry, if you have an asbestos-related injury, it’s possible you may have one or more claims against existing or future trusts.

Your trust fund claims are handled separately from your lawsuit against solvent (non-bankrupt) defendants because federal law prohibits asbestos-related lawsuits against the reorganized company or the trust.

Key points about asbestos trust funds:

  • Many asbestos companies have filed for bankruptcy protection and reorganized.
  • Trusts have been set up for current and future claimants harmed by asbestos exposure.
  • You might have multiple bankruptcy claims, depending on your case.
  • We have a dedicated bankruptcy department, led by senior attorneys.
  • Your attorney will develop a legal strategy that includes bankruptcy claims and all sources of recovery.

Get a free consultation now to learn what your legal options may be.

Mesothelioma Lawsuit or Mesothelioma Trust Funds?

In some circumstances, you may be able to file both a mesothelioma lawsuit and an asbestos trust claim. Our attorneys are experienced in asbestos litigation and can help you decide which route is right for you.

As a leading mesothelioma law firm, Simmons Hanly Conroy has the experience, resources and staff to help you file claims against all negligent parties — those who established trusts and those you can still hold accountable in court.

Why choose Simmons Hanly Conroy for your mesothelioma legal claims?

  • More than 20 years of experience
  • 60+ mesothelioma attorneys nationwide
  • Over $9.7 billion in asbestos claim results
  • No hourly fees or out-of-pocket costs
  • $20 million donated to cancer research

We’ve dedicated an entire bankruptcy department to these types of claims that’s led by senior attorneys who will work with you to file any asbestos claims you qualify for.

Call (800) 326-8900 now or get a free legal consultation to learn more about your options.

See What You Qualify For

Mesothelioma Trust Fund List FAQs

How much is left in asbestos settlement funds?

As of March 2024, $30 billion is estimated to still be available in the asbestos settlement fund.

Who is eligible for asbestos trust fund settlements?

Mesothelioma victims or immediate family members on their behalf may be eligible to receive mesothelioma compensation from the manufacturers of the asbestos products that caused the disease.

Our experienced asbestos attorneys can help you prove you were exposed and determine which trust funds you may be able to file a claim with. Call (800) 326-8900 now to get started.

Can a family member file an asbestos trust fund claim? 

Yes. Immediate family members or estate representatives of asbestos victims are able to file asbestos trust fund claims on their loved one’s behalf, even if they’ve already passed away.

Our team can let you know if you may be eligible to file a case. Contact us now to learn more.

Do I need a lawyer to file mesothelioma trust fund claims?

While filing a mesothelioma fund claim involves an easier process than filing a lawsuit, it can be highly beneficial to work with a lawyer who can handle the legal process for you.

Because mesothelioma occurs decades after initial exposure, many patients don’t remember all the products they used or aren’t familiar with the company that made them. That’s what our lawyers can handle for you.

Let us find the evidence and file your claim. Get started now with free legal consultation.

How much does it cost to file mesothelioma fund claims?

At Simmons Hanly Conroy, there are no out-of-pocket costs or hourly fees to file mesothelioma fund claims with the firm. Our attorneys only receive payment if we’re able to recover money in your case.

Who pays for asbestos claims?

Asbestos trust fund payouts are paid out of the company’s trust fund. This is money that’s been set aside by an asbestos company that declared bankruptcy as a way of providing for future victims.

Asbestos claims may also refer to mesothelioma lawsuits that have been filed against asbestos companies that did not declare bankruptcy. In these cases, the money comes from the negligent company directly.

What is the average payout for asbestos claims?

Every case is different, which makes it difficult to determine an average asbestos claim payout. There’s also never a guarantee of compensation in any case.

A number of factors can influence the amounts awarded by mesothelioma settlement funds, and many asbestos victims qualify for compensation from multiple trusts.

If you or your loved one has been diagnosed with an asbestos-related disease, get a free consultation to see how much your claim may be worth.

How many asbestos trusts are there?

Since the 1980s, more than 100 companies have established their own asbestos bankruptcy trusts.

How long do I have to file asbestos claims?

Unfortunately, you only have a limited amount of time to file an asbestos bankruptcy trust claim after your mesothelioma diagnosis, due to state laws called the statutes of limitations.

This deadline makes it imperative to contact an attorney as soon as possible after your mesothelioma diagnosis. Get a free consultation now to see what legal options are available to you.

Do mesothelioma settlement funds affect VA benefits?

As a U.S. military veteran with mesothelioma, filing an asbestos or mesothelioma trust fund claim does not prevent you from filing mesothelioma VA claims or receiving VA benefits.

Contact us to discuss your unique situation and options. We have VA-accredited asbestos attorneys on staff who can answer your questions about VA benefits and file any asbestos claim(s) you may qualify for.

Are asbestos trust fund payouts taxable?

Asbestos trust fund payouts may or may not be subject to taxes. We recommend you consult a tax attorney regarding your specific situation.

Simmons Support Team
Reviewed by:John Simmons

Chairman of Simmons Hanly Conroy

  • Fact-Checked
  • Legal Reviewer

John Simmons is a founder and Chairman of Simmons Hanly Conroy. After serving in the U.S. Army, he went on to earn his Doctor of Law degree from Southern Methodist University School of Law. He has helped recover some of the biggest verdicts and settlements in asbestos litigation history and is rated as one of the Top 100 Trial Lawyers.