Manville Asbestos Trust: Claims and Payment

Johns-Manville Corporation filed a Chapter 11 petition in August 1982, which suspended personal injury lawsuits over the asbestos products it and its affiliates mined or manufactured. The Manville Personal Injury Settlement Trust was set up to resolve those claims. The U.S. Bankruptcy Court for the Southern District of New York approved the plan of reorganization in December 1986, and the Second Circuit Court of Appeals confirmed the plan on October 28, 1988 after several appeals. The trust began operating in January 1987 under trustees appointed by the bankruptcy court and became operational on November 28, 1988, when the plan was consummated. Claims are processed by Claims Resolution Management Corporation, which the trust site names. Claims are evaluated under the Trust Distribution Process, and the current version, the 2002 process revised May 2021, schedules eight disease levels. The trust pays a pro rata percentage of each claim's liquidated value. A September 3, 2026 announcement states an increase in the pro rata payment percentage from 5.1% to 5.6%, effective immediately.