Keasbey & Mattison Asbestos Trust Fund Claims
Keasbey & Mattison Company does not have a separately named asbestos bankruptcy trust. Federal court records establish that Turner & Newall (T&N) purchased Keasbey & Mattison in 1934 and owned it until the 1962 asset sale. Qualifying asbestos claims for which T&N or a covered T&N entity has legal responsibility are handled through the T&N Subfund of the Federal-Mogul Asbestos Personal Injury Trust. Because Keasbey’s assets were divided among multiple purchasers in 1962, a person’s exposure to a Keasbey product does not by itself prove that the T&N Subfund—or any other trust—is legally responsible for that claim.
Keasbey & Mattison Trust Facts
| Separate Keasbey & Mattison bankruptcy trust | No separate trust identified in the primary records reviewed |
|---|---|
| Relevant formal trust | Federal-Mogul Asbestos Personal Injury Trust |
| Relevant account | T&N Subfund |
| Keasbey owner, 1934–1962 | Turner & Newall |
| Federal-Mogul Trust formation | December 27, 2007 |
| T&N claims acceptance began | August 25, 2010 |
| Current T&N Payment Percentage | 2.9%, effective June 30, 2026, under the Trust’s 2026 T&N payment-percentage notice |
| T&N Mesothelioma — Level VIII | $200,000 Scheduled / $250,000 Average / $600,000 Maximum |
| Claims administration | Delaware Claims Processing Facility (DCPF) |
| Status | Active |
Keasbey & Mattison and Turner & Newall History
A federal court opinion in the Federal-Mogul bankruptcy states that T&N purchased Keasbey & Mattison in 1934. The court found that Keasbey manufactured and sold a broad range of asbestos-containing products, including Limpet, textiles, insulation and building materials, until T&N sold Keasbey’s assets in 1962.
The same federal record explains that asbestos claimants later asserted claims against T&N based in part on its relationship with Keasbey and its supply of raw asbestos fiber. The court also noted that alter-ego and similar liability theories involving Keasbey had historically produced limited settlements. These distinctions matter because corporate history alone does not establish that every Keasbey exposure is payable by the T&N Subfund.
How Keasbey Claims Connect to the T&N Subfund
The Federal-Mogul TDP states that the T&N Subfund is liable for asbestos trust claims for which T&N and/or its subsidiaries or affiliates have legal responsibility, subject to the Plan, Trust Agreement and TDP.
The Federal-Mogul Trust contains separate accounts. The T&N Subfund is distinct from the FMP, Fel-Pro and Vellumoid accounts. T&N claims also have a separate value matrix from Flexitallic and Ferodo claims even though qualifying claims against those entities may be payable from the T&N Subfund.
Keasbey exposure therefore must be connected to a legally cognizable covered T&N liability. The page does not assume that every product historically sold under the Keasbey name qualifies automatically.
T&N Disease Levels and Claim Values
| Disease Level | Scheduled Value | Average Value | Maximum Value |
|---|---|---|---|
| Mesothelioma — Level VIII | $200,000 | $250,000 | $600,000 |
| Lung Cancer 1 — Level VII | $42,500 | $60,000 | $125,000 |
| Lung Cancer 2 — Level VI | None | $12,000 | $40,000 |
| Other Cancer — Level V | $14,750 | $19,500 | $90,000 |
| Severe Asbestosis — Level IV | $42,500 | $54,500 | $125,000 |
| Asbestosis/Pleural Disease — Level III | $12,700 | $13,500 | $25,000 |
| Asbestosis/Pleural Disease — Level II | $5,700 | $5,800 | $8,000 |
| Other Asbestos Disease — Level I | $150 Cash Discount Payment in the published TDP matrix | None | None |
These are the T&N Claims values in the Federal-Mogul TDP. They must not be confused with the lower Flexitallic/Ferodo matrix or the separate FMP matrix. Scheduled, Average and Maximum Values are liquidation benchmarks, not guaranteed cash payments.
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Current T&N Payment Percentage
The Federal-Mogul Trust’s official 2026 T&N payment-percentage notice establishes a 2.9% Payment Percentage effective June 30, 2026. This rate applies to the T&N account and must not be confused with the separate FMP account’s percentage.
The governing TDP explains why the percentage exists: T&N Subfund assets are projected to be insufficient to pay the full liquidated value of all present and future claims. The Trustees may adjust the percentage under the TDP with the required consent.
Mathematical illustration only — not a guaranteed payment. A $200,000 T&N Mesothelioma Scheduled Value × 2.9% = $5,800. A $42,500 Lung Cancer 1 Scheduled Value × 2.9% = $1,232.50. Actual eligibility and payment depend on the applicable claim, exposure evidence, Trust rules and the percentage in effect at payment.
Expedited and Individual Review
The TDP establishes Expedited Review for qualifying T&N Subfund claims involving exposure in the United States or Canada. A claim meeting the presumptive medical and exposure criteria can be liquidated at the Scheduled Value for the applicable Disease Level.
Individual Review evaluates claim-specific factors and uses the published Average and Maximum Values. Lung Cancer 2 has no Scheduled Value and is therefore evaluated through Individual Review.
The TDP also provides procedures for Multiple Exposure Claims, Extraordinary Claims, Exigent Claims, Foreign Claims, Secondary Exposure Claims, ADR and FIFO processing and payment queues.
Medical and Exposure Requirements
The Federal-Mogul TDP sets disease-specific presumptive medical and exposure criteria. Mesothelioma Level VIII requires a qualifying mesothelioma diagnosis and evidence of Federal-Mogul Exposure attributable to the entity against which the claim is asserted.
Other Disease Levels can require minimum exposure duration, Significant Occupational Exposure, bilateral asbestos-related nonmalignant disease and medical evidence supporting asbestos as a contributing factor. The TDP generally applies a 10-year latency requirement between first asbestos exposure and diagnosis.
For a Keasbey-related claim, evidence must do more than establish that a claimant encountered a product bearing the Keasbey name. It must support a covered liability under the T&N Subfund’s legal and exposure criteria.
Important Claim and Liability Distinctions
Keasbey & Mattison’s 1962 asset disposition makes this page different from a straightforward single-debtor asbestos trust. Federal court records show that Keasbey’s operations and assets were divided, and different successor-liability theories have arisen in asbestos litigation.
For that reason, this page does not describe the T&N Subfund as a stand-alone “Keasbey & Mattison Trust,” and it does not state that every historic Keasbey product claim is automatically payable from Federal-Mogul.
The Federal-Mogul Trust’s separate T&N, Flexitallic/Ferodo and FMP value schedules are also kept distinct. Current assets, cumulative Keasbey-specific claims paid and Keasbey-specific lifetime dollars paid are omitted because those statistics are not separately reported in the primary materials reviewed in a way that can be attributed exclusively to Keasbey claims.
Confirmed Primary Sources for Trust Facts
No law-firm or lead-generation website was used as factual authority for this page. Primary and government/court materials used include:
- Official Federal-Mogul Asbestos Personal Injury Trust website.
- Official Federal-Mogul Asbestos Personal Injury Trust Distribution Procedures.
- Federal-Mogul Asbestos Personal Injury Trust Agreement filed with the U.S. Securities and Exchange Commission.
- U.S. District Court opinion in the Federal-Mogul bankruptcy addressing T&N’s Keasbey ownership and asbestos liabilities.
Related Asbestos Trust Fund Resources
Asbestos Trust Fund Information
Federal-Mogul Claim Rules
Keasbey and T&N Corporate History
Frequently Asked Questions About Keasbey & Mattison Asbestos Claims
Is there a separate Keasbey & Mattison asbestos bankruptcy trust?
No separate Keasbey-named bankruptcy trust was identified in the primary records reviewed. Qualifying liabilities for which T&N has legal responsibility can be handled through the T&N Subfund of the Federal-Mogul Asbestos Personal Injury Trust.
Why is Keasbey & Mattison connected to Turner & Newall?
Federal court records state that T&N purchased Keasbey in 1934 and owned it until selling Keasbey’s assets in 1962.
What is the current T&N Payment Percentage?
The official 2026 T&N payment notice establishes 2.9%, effective June 30, 2026. The percentage can change under the TDP.
What is the T&N mesothelioma Scheduled Value?
The Federal-Mogul TDP lists $200,000 Scheduled, $250,000 Average and $600,000 Maximum for T&N Mesothelioma Level VIII.
What does 2.9% of the mesothelioma Scheduled Value equal?
$200,000 multiplied by 2.9% equals $5,800. This is a mathematical illustration only and not a guaranteed payment.
Does Federal-Mogul offer Individual Review for T&N claims?
Yes. The TDP provides both Expedited Review and Individual Review, with claim-specific rules and limits.
Does every Keasbey product exposure qualify for the T&N Subfund?
No. A claimant must establish a covered legal responsibility and satisfy the Trust’s medical and exposure requirements. Keasbey’s corporate and asset-sale history makes the liability analysis important.
Are Keasbey-specific assets and lifetime claim payments published separately?
Not in the primary materials reviewed in a form that permits those figures to be attributed exclusively to Keasbey claims, so this page does not invent or infer them.
Get Help Reviewing a Keasbey & Mattison Asbestos Claim
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Prior exposure to a Keasbey & Mattison asbestos-containing product does not automatically establish eligibility for a Federal-Mogul T&N Subfund claim or other asbestos compensation. Eligibility depends on the specific product, corporate liability, medical evidence, exposure evidence, current Trust procedures and individual circumstances. Compensation is not guaranteed.
⚕️ Legal & Medical Information Disclaimer
This page provides general educational information and is not medical or legal advice. The information does not establish asbestos exposure, diagnosis, causation, liability, claim eligibility or compensation. Medical concerns should be discussed with a qualified healthcare professional, and legal questions should be reviewed with a qualified attorney.