MLC Asbestos Personal Injury Trust

History

The MLC Asbestos PI Trust was set up after General Motors (GM) filed for bankruptcy in 2009. As a result, the MLC Trust Fund was established in 2012 with initial funds of $625 million.

General Motors (GM) was involved in the manufacturing of automobiles and automotive parts, including components such as brakes, brake shoes, and brake and clutch linings. These products exposed thousands of people to asbestos, a substance known to cause cancer.

In 2009, the company filed for Chapter 11 bankruptcy reorganization. During this process, most of GM's assets were sold to NGMCO, Inc., a company primarily owned by the governments of Canada and the U.S. GM was renamed General Motors Company LLC, while the original company was rebranded as Motors Liquidation Company (MLC) and divided into four trusts, one of which was the MLC PI Trust.

The company manufactured, sold, and used asbestos - containing products from the 1920s to the 1990s. In 2009, GM filed for bankruptcy due to mounting asbestos liabilities.