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What Is An Asbestos Trust Fund?
An asbestos trust fund is created by a company to pay out claims filed by people who have developed mesothelioma, asbestosis, or another asbestos-related disease after exposure to asbestos-containing products. Many asbestos product manufacturers filed for Chapter 11 bankruptcy to try and avoid paying claims, so the courts ordered them to set aside funds to compensate future claimants. These asbestos bankruptcy trusts now hold billions of dollars.
How Much Money Is Left in the Asbestos Trust Fund?
An estimated $30 billion (total) is available from multiple asbestos trust funds.
Though there is no guarantee of compensation, many mesothelioma patients can recover money from these funds. They may also be able to secure compensation through mesothelioma lawsuits and U.S. Department of Veterans Affairs (VA) benefits.
Is There an Asbestos Trust Fund List?
Here are some existing asbestos trust funds:
- A.L. Burbank & Co., Ltd.
- A.P. Green
- ABB Lummus Global
- A-Best Products
- Aldrich Pump LLC et al
- Amatex Corp.
- American Shipbuilding, Inc.
- API, Inc.
- Armstrong World Industries
- ARTRA Group, Inc.
- ASARCO, LLC
- Asbestos and Insulation Corp. (A&I Corp)
- Asbestos Claims Management Corp. (ACMC)
- Babcock & Wilcox Co.
- Bondex International/Special Products Holding Corp.
- Brauer Supply Co.
- Brunswick Fabricators
- Budd Company Inc., The
- Burns & Roe Construction Group
- Burns & Roe Enterprises, Inc.
- C.E. Thurston
- C.P. Hall Company
- Carey Canada, Inc.
- Celotex Corp.
- Chicago Fire Brick
- Christy Refractories Co. LLC
- Combustion Engineering
- Congoleum Corp.
- Consolidated Aluminum Corp.
- Dana Corporation
- DBMP LLC, an affiliate of CertainTeed LLC
- Delaware Insulations
- Dowman Products, Inc.
- Durabla Manufacturing Co.
- DuroDyne National Corp.
- E.J. Bartells
- Eagle Inc.
- Eagle Picher Industries
- Federal Mogul (Federal Mogul Corporation/Vellumoid)
- Federal Mogul (Federal Mogul Products/Wagner)
- Federal Mogul (Felt Products Manufacturing)
- Federal Mogul (T&N, Flexitallic, Ferodo)
- Flintkote Co./Flintkote Mines
- Forty-Eight Insulations
- Gardner Denver Holdings, Inc., et al
- Garlock Sealing Technologies, LLC (Anchor Packing Company and Garrison)
- Gatke Corp.
- General Motors Corp.
- George V. Hamilton, Inc.
- Georgia Pacific
- G-I Holdings, Inc.
- Global Industrial Technologies (Harbison-Walker)
- H.K. Porter Co.
- Harnischfeger Corp.
- Hercules Chemical Co.
- Hillsborough Holding Co.
- Ingersoll Rand
- Insul Co.
- J.T. Thorpe Co.
- J.T. Thorpe Inc.
- Johns Manville Corp.
- Johnson & Johnson
- Kaiser Aluminum
- Kaiser Gypsum
- Keene Corp.
- Kentile Floors
- Kvaerner U.S. Inc.
- Lake Asbestos of Quebec, Ltd.
- Leslie Controls, Inc.
- Lloyd E. Mitchell Co.
- Lykes Bros. Steamship Co.
- M.H. Detrick
- Maremont Corporation
- McCann Shields Paint Company
- McDermott International, Inc.
- McLean Industries
- Metex Mfg. Corp.
- Mid-Valley Inc. (Halliburton)
- Muralo Co.
- Murphy Marine Services
- Murray Boiler LLC
- National Gypsum
- National Service Industries
- Nicolet, Inc.
- North American Refractories Corp. (NARCO)
- Oakfabco Inc.
- Oglebay Norton Co. (ONCO)
- ON Marine Services Co.- Ferro Engineering Division
- Owens Corning Corp.
- Owens Corning Fibreboard
- Pacific Insulation Co.
- Paddock Enterprises f/k/a Owens Illinois
- Philadelphia Asbestos Corp. (PACOR)
- Pittsburgh Corning
- Pittsburgh Metals Purifying Company
- Plant Insulation Co.
- Plibrico Co.
- Porter-Hayden Co.
- Prudential Lines, Inc.
- Pulmosan Safety Equipment Corp.
- Quigley Co.
- Rapid American Corp.
- Raymark Corp./Raytech Corp.
- Reichhold Holdings US Inc
- Resillo Press Pad Co.
- Rock Wool Manufacturing
- Rutland Fire Clay
- Saberhagen Holdings Inc. (The Brower Company)
- Schutte & Koerting, Inc.
- Shook and Fletcher
- Skinner Engine Co.
- Special Electric
- Special Metals Co.
- Standard Insulations, Inc.
- Star Machine and Tool Company
- State Insulations Corp.
- Stone and Webster Engineering
- Swan Transportation Co.
- T.H. Agriculture and Nutrition, LLC
- Thorpe Insulation Co.
- Todd Shipyards
- Trane (see Aldrich Pump LLC and Murray Boiler LLC)
- Triple A Machine Shop, Inc.
- Tronox, Inc.
- United Gilsonite Laboratories
- United States Lines
- United States Mineral Products
- UNR Industries
- USG Corp.
- Utex Industries
- W.R. Grace
- Wallace & Gale
- Waterman Steamship Corp.
- Western MacArthur/Western Asbestos
- XEF as SII to Electric Furnace Company
- Yarway Corporation
- Young Holdings
Please note that the above is not a comprehensive list of every trust fund. Even if you or a loved one didn’t work for one of these companies, you could still potentially access money from an asbestos trust fund if you have mesothelioma.
How Do I Recover an Asbestos Trust Fund Settlement?
Because asbestos exposure is the only known cause of mesothelioma, people who develop mesothelioma or another asbestos-related disease may be able to recover money from an asbestos trust fund.
Those who may qualify for an asbestos trust fund settlement include:
- Someone who has been diagnosed with mesothelioma or another asbestos-related disease (such as asbestosis)
- Their spouse, child, or another immediate family member
- The mesothelioma patient’s estate representative
To pursue compensation from an asbestos trust fund, you should contact an attorney who can determine when and where your asbestos exposure occurred and which company or companies are responsible.
An experienced asbestos trust fund lawyer can guide you through the legal process, gather evidence, build your case, and negotiate for full compensation.
How Much Money Do You Get for Asbestos Exposure?
The amount of money a person can recover from an asbestos trust fund depends on many factors, such as their medical expenses, the length of asbestos exposure, the number of asbestos products they were exposed to, which companies were responsible, and the payment percentages set up by the asbestos trust during reorganization. While there is no guarantee of compensation, many patients have received hundreds of thousands of dollars from asbestos trust funds.
An asbestos attorney can help calculate your case value and determine the best way to maximize your payout.
How Much Are Mesothelioma Settlements?
The compensation varies based on the details of each case, such as the severity of the disease, the length of asbestos exposure, and the cost of treatment. The average mesothelioma lawsuit settlement is $1-1.4 million. Most of these claims are settled before they go to trial.
In addition to medical expenses, mesothelioma patients may be able to recover money for lost wages, pain and suffering, punitive damages (to discourage future negligence), and travel expenses.
Can You Claim for Asbestosis After Death?
Yes, if a loved one has passed away from asbestosis or another asbestos-related disease, their family members or estate representatives may be able to file a wrongful death lawsuit seeking compensation. Along with the cost of treating the asbestosis, they may be able to recover money for funeral expenses, pain and suffering, and punitive damages.
Please note that filing a wrongful death lawsuit does not necessarily prohibit a mesothelioma victim’s loved ones from recovering money from an asbestos trust fund or the Department of Veterans Affairs (VA). An asbestos attorney can help decide which path to justice they should take.
Who Is the Best Asbestos Attorney?
The best asbestos attorneys have decades of experience and a database of key resources, such as asbestos trust fund information, a map of asbestos job sites, and access to top mesothelioma doctors. They also have a track record of recovering money for people with asbestos-related diseases.
LawFirm.com can help connect you with the country’s best asbestos lawyers. These claims are time-sensitive, so don’t wait — reach out today to see if you are owed money from an asbestos trust fund.