NARCO Asbestos Trust Fund: Claim Types, Payments and Legal Options
Dive into the history and purpose of the NARCO Asbestos Trust formed as part of NARCO's Plan of Reorganization. Learn the specifics of claim submissions and the associated resolution process.
Introduction to NARCO Asbestos Trust
In the early 2000s, a significant shift occurred in the legal landscape concerning asbestos-related claims. North American Refractories Company, commonly known as NARCO, entered a pivotal stage in 2002, eventually leading to the establishment of a special trust.
NARCO Asbestos Trust Purpose and Functions
Initiated on January 4, 2002, NARCO took the path of reorganization under Chapter 11 of the Bankruptcy Code. Fast forward to 2013, and in line with NARCO's reorganization plan, a specialized entity came into existence. This entity, known as the NARCO Asbestos Trust, was designed with a primary objective: to address and resolve claims and demands arising from exposure to asbestos-containing products.
These products, whether manufactured, sold, or distributed by NARCO (or its antecedents), had established legal liabilities for both NARCO and Honeywell International Inc., encompassing their past, present, and future affiliated entities.
NARCO Asbestos Trust Claim Submission and Resolution
For individuals who believe they've suffered from asbestos exposure due to products affiliated with NARCO or its antecedents, the NARCO Asbestos Trust offers a path to submit their claims. The process, however, has its complexities. Depending on the type of claim (ER or IR) and the severity of the disease, there are specific eligibility criteria and evaluation standards to determine if a claim qualifies for compensation.
NARCO Asbestos Trust Current Payment by Claim Type
Current payment amounts for each type of claim:
Mesothelioma Claims:
- Expedited Review: $75,000
- Individual Review: $1,243,314
- Ratio*: 60.0%
Lung Cancer Claims:
- Expedited Review: $18,000
- Individual Review: $248,663
- Ratio*: 60.0%
* The trust funds ensure a fixed percentage of compensation known as a "ratio", which reserves funds for potential future victims based on the claim's worth.
NARCO Asbestos Products
- Aerogun
- Anti-Erode
- BOF-Cote
- BOF-Patch
- CM-18 Gun Mix
- CM Gun Mix
- MC Gun Mix
- Narcmag OH Gun Mix
- Narcocast Es Fine Trowel
- Narcocrete Trowel
- Narcogan CM-343
- Narcogan MCD-344
- Narcolite
- Narmag 60 DBRC
- Star-On Cement
- Super 505 Hot Gun C
- Uni-Cote Cement
- WO-339 McGun
NARCO Trust Fund Asbestos Exposure Calculator
National average for mesothelioma lawsuit settlements typically range from $1.1 million to $1.5 million while lung cancer settlements may range between $150,000 and $350,000. Use Asbestos Compensation Calculator for a personalized compensation estimate.
NARCO Trust Fund Mesothelioma & Lung Cancer Compensation Calculator
Get a comprehensive mesothelioma or lung cancer compensation estimate after asbestos exposure form products related to NARCO Asbestos Trust Fund. Follow a few quick steps to receive your personalized result in seconds.
Asbestos & Mesothelioma Law Firm Near You
National law firms, with their experience in handling cases and trust fund claims across the country, can be a smart choice. Opting for a nationwide firm means you'll have a team of lawyers who know the ins and outs of asbestos cases in every state. They'll figure out the best place to file your claim and make sure it's done within the legal deadlines, all to get you the maximum possible compensation.
Lowe Law Group is Helping Asbestos Victims for Over 15 Years
Compassionate legal support and clear communication for mesothelioma cases.
$265 Million Recovered for Clients
(866) 968-7171
