Combustion Engineering Asbestos Trust: Claims and Payment

A plan of reorganization, as modified through October 7, 2005, was confirmed on December 19, 2005, affirmed by the U.S. District Court for the District of Delaware on March 1, 2006, and became effective on April 21, 2006, creating the Combustion Engineering 524(g) Asbestos PI Trust. The debtor, Combustion Engineering, Inc., had filed a voluntary Chapter 11 petition on February 17, 2003 in the U.S. Bankruptcy Court for the District of Delaware, and the trust resolves claims for which it and its predecessors, successors and assigns are legally responsible. Claims are processed under the trust's Second Amended and Restated Trust Distribution Procedures, which schedule eight disease levels from Other Asbestos Disease to Mesothelioma. The trust's 2025 annual report states that it settled and paid 14,046 claims totaling $39,387,113 in 2025 and received 30,201 new claim filings. The trustees notified the advisory committee and the future claimants' representative in April 2026 of a decision to lower the payment percentage from 20.0% to 15.3%.