Western Asbestos Settlement Trust

History

The Western Asbestos Settlement Trust was established in 2004 with an initial fund of $2 billion to resolve asbestos - related claims against the Western MacArthur Company. [1](L1)

The Minnesota - based Western MacArthur Company acquired asbestos products from the dissolved Western Asbestos Company and distributed them across hospitals, schools, chemical plants, recreational facilities, court buildings, and shipbuilders. By the 1970s, lawsuits mounted due to asbestos - related health risks. Regulatory changes ended the company's asbestos sales by the late 1970s, and litigation pressures led to bankruptcy in 2002. A Reorganization Plan approved in 2004 established the Trust to compensate victims of asbestos exposure. [1](L2)

The Trust was created following Western MacArthur Company's bankruptcy to ensure fair compensation for individuals affected by asbestos exposure.