Manville Personal Injury Settlement Trust
History
In 1986, following its Chapter 11 bankruptcy, the John - Manville Corporation established the Manville Personal Injury Settlement Trust with an initial fund of $2.5 billion to compensate individuals harmed by asbestos exposure from its products.
The Johns - Manville Company, founded in 1858, manufactured construction materials such as cement, brake linings, sheet packaging, gaskets, corrugated paper, and adhesives. The company also mined and sold raw asbestos, resulting in widespread exposure for workers and customers. By the 1980s, the company faced extensive asbestos litigation. After declaring bankruptcy and accepting a Plan of Reorganization, the Manville Personal Injury Settlement Trust was formed.