National Gypsum Asbestos Trust: Claims and Payment

Asbestos bodily injury claims over products the old National Gypsum Company manufactured, sold or distributed are paid by the NGC Bodily Injury Trust. The trust was created under the Third Amended Plan of Reorganization under Chapter 11 for Asbestos Claims Management Corporation, the successor to National Gypsum, which had a petition date of August 19, 2002. The U.S. District Court for the Northern District of Texas, Dallas Division, entered the order confirming the plan, which was dated December 12, 2002 and modified on April 21, 2003. The plan's Claims Resolution Procedures, now in their Eighth Amended version, set out how claims are reviewed and valued, with disease categories from Non-Malignant I through Mesothelioma. The trust pays claims at a Payment Sum Percentage. In a January 19, 2023 notice, the trustees reported an increase from 40% to 45% and the adoption of an annual 2% inflation adjustment to baseline liquidated values, with supplemental payments to claimants previously paid at less than 45%.