NARCO Asbestos Trust: Claims and Payment

North American Refractories Company, known as NARCO, made heat-resistant refractory products. Allied Corporation, a predecessor of Honeywell, owned it from 1979 to 1986. NARCO filed for Chapter 11 on January 4, 2002 in the Western District of Pennsylvania, case number 02-20198, after about 290,000 plaintiffs had filed asbestos personal injury suits against it. According to the bankruptcy court, the Third Amended Plan, filed December 28, 2005, was confirmed on November 13, 2007 on an uncontested basis. It provided for a trust under 11 U.S.C. 524(g) and a channeling injunction that directs asbestos claims to the trust. The trust's site says it was established April 30, 2013, and the court opinion says it became effective in April 2013, with a final decree closing the bankruptcy case on May 24, 2013. The trust is a Delaware statutory trust, and claims are processed through the Delaware Claims Processing Facility. Honeywell funds the trust on an evergreen basis, and in 2022 and 2023 the court approved, and the trust closed, an amended buyout agreement between the trust and Honeywell. The trust's July 2025 notice adjusted the average and maximum values for Disease Levels III through VII by the Consumer Price Index.