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.

Table of Contents
Introduction
Trust Purpose and Functions
Claim Submission and Resolution
Current Payment by Claim Types
Asbestos Products
Legal Options & Free Legal Consultation

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

Asbestos Law Firms 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.