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Asbestos bankruptcy trusts. Asbestos bankruptcy trusts are trusts established by firms that have filed for reorganization under Chapter 11 of the United States Bankruptcy Code to pay personal injury claims caused by exposure to asbestos. At least 56 such trusts were established from the mid-1970s to 2011.
Celotex. Celotex Corporation logo in 1923. Celotex Corporation is a defunct American manufacturer of insulation and construction materials. [1][2] It was the subject of a number of high-profile lawsuits over products containing asbestos in the 1980s, eventually declaring Chapter 11 bankruptcy in 1990. [3]
Johns Manville. Johns Manville is an American company based in Denver, Colorado, that manufactures insulation, roofing materials and engineered products. For much of the 20th century, the then-titled Johns-Manville Corporation was the global leader in the manufacture of asbestos -containing products, including asbestos pipe insulation, asbestos ...
The settlement comes after J&J failed for a second time in July to move tens of thousands of claims over talc into bankruptcy court, where it hoped to resolve them through a proposed $8.9 billion ...
The Furthering Asbestos Claim Transparency (FACT) Act of 2015 (old bill number- H.R. 526, now Section 3 of H.R. 1927) is a bill introduced in the U.S. House of Representatives by Congressman Blake Farenthold that would require asbestos trusts in the United States to file quarterly reports about the payouts they make and personal information on the victims who receive them in a publicly ...
The Armstrong World Industries, Inc. Asbestos Personal Injury Settlement Trust in 2006 held approximately 66% of AWI's outstanding common shares. Armstrong's “Fourth Amended Plan of Reorganization, as Modified,” dated February 21, 2006 and confirmed by U.S. District Court Judge Eduardo Robreno in August 2006, [ 6 ] become effective October ...
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