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Maremont Asbestos Personal Injury Trust

The Maremont Asbestos Personal Injury Trust was established in 2019 as part of the company's Chapter 11 bankruptcy reorganization. With an initial funding of $28 million, the Trust was created to address asbestos-related claims filed against Maremont Corporation.

The History

Founded in 1877 and based in Chicago, Maremont Corporation was a manufacturer and supplier of aftermarket automotive parts. Between 1953 and 1978, the company produced friction and exhaust products, including Grizzly Brake Linings, Grizzly Clutch Facings, Maremont Brake Linings, and Maremont Clutch Facings, many of which contained asbestos.

By the 1980s, Maremont faced mounting litigation from individuals exposed to asbestos through its products. These lawsuits significantly impacted the company, ultimately leading to its filing for bankruptcy in 2019 under Chapter 11. As part of its Reorganization Plan, the company's assets were transferred to the Maremont Asbestos Personal Injury Trust, which now handles all asbestos-related claims on behalf of the company.

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Purpose of the Trust

This Trust Distribution Procedure has been adopted pursuant to the Trust Agreement. It is designed to provide fair, equitable, and substantially similar treatment for all similarly situated asbestos claims that may presently exist or may arise in the future.

The Trust aims to support individuals affected by asbestos exposure linked to Maremont products while ensuring all claims are processed consistently and equitably.

Eligibility and Claim Process

Disease Levels

Five asbestos-related disease levels are recognized, each with specific medical and exposure criteria.

Requirements

Claims must meet presumptive medical and exposure standards.

Processing

Claims are handled in the order they appear in the FIFO (First In, First Out) Processing Queue.

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Compensation and Payment Structure

Mesothelioma 2 (Level V)

Scheduled Value: $12,100

Criteria: Diagnosis of mesothelioma; substantial debtor exposure; claimant qualifies as a Shade Tree Mechanic Claim.

Mesothelioma (Level IV)

Scheduled Value: $111,500

Criteria: Diagnosis of mesothelioma; debtor exposure; claimant qualifies as an Occupationally Exposed Claim.

Lung Cancer (Level III)

Scheduled Value: $25,400

Criteria: Diagnosis of primary lung cancer plus evidence of underlying bilateral asbestos-related nonmalignant disease; six months debtor exposure prior to December 31, 1982; significant occupational exposure; claimant qualifies as an Occupationally Exposed Claim.