Carey Canada Asbestos Trust Claims
Carey Canada Incorporated does not have a separate independently funded asbestos trust. Qualifying Carey Canada asbestos personal-injury claims are handled by the Celotex Asbestos Settlement Trust, the same formal trust that handles qualifying Celotex Corporation claims. The Trust was founded February 1, 1998 following the joint Chapter 11 bankruptcies of Celotex Corporation and its wholly owned subsidiary Carey Canada Incorporated. Carey Canada had mined, milled and processed asbestos fiber.
Carey Canada Asbestos Trust Facts
| Formal trust handling Carey Canada claims | Celotex Asbestos Settlement Trust |
|---|---|
| Carey Canada entity | Carey Canada Incorporated, wholly owned subsidiary of Celotex Corporation |
| Carey Canada business | Mining, milling and processing asbestos fiber |
| Chapter 11 filing | October 12, 1990 |
| Plan confirmation | December 6, 1996 |
| Trust founded | February 1, 1998 |
| Claims administration | Celotex Asbestos Settlement Trust / Delaware Claims Processing Facility |
| Current IRC Payment Percentage | 7% |
| 7% effective date | June 23, 2023 |
| Prior IRC Payment Percentage | 8% |
| Mesothelioma IRC Scheduled Value | $130,000 |
| Mesothelioma IRC Maximum Value | $325,000 |
| Current status | Active |
Carey Canada and Celotex Trust History
The official Trust states that Carey Canada was a wholly owned subsidiary of Celotex Corporation and was formerly engaged in the mining, milling and processing of asbestos fiber. Celotex manufactured and distributed roofing and building products.
Celotex Corporation and Carey Canada Incorporated jointly filed for Chapter 11 reorganization on October 12, 1990. The bankruptcy court confirmed their modified joint Plan of Reorganization on December 6, 1996.
The Celotex Asbestos Settlement Trust was founded February 1, 1998 to process, liquidate and pay valid asbestos personal-injury claims under court-approved Claims Resolution Procedures.
This Carey Canada page is therefore a company-specific guide to claims against the same Celotex Asbestos Settlement Trust. It should not be interpreted as evidence that Carey Canada and Celotex maintain two separate bankruptcy trusts or two separate pools of trust assets.
IRC Disease Values
For valid Individualized Review Claims, the Trust publishes Scheduled and Maximum Values based on the disease category. Claim values are based on the several liability of Celotex or Carey Canada, whichever is greater.
| IRC Disease Category | Scheduled Value | Maximum Value |
|---|---|---|
| Bilateral Pleural Disease | $8,000 | $20,000 |
| Non-disabling Bilateral Interstitial Lung Disease | $16,000 | $25,600 |
| Disabling Bilateral Interstitial Lung Disease | $32,000 | $192,000 |
| Other Cancer | $26,000 | $130,000 |
| Lung Cancer One | $39,000 | $260,000 |
| Lung Cancer Two | $58,000 | $260,000 |
| Malignant Mesothelioma | $130,000 | $325,000 |
The Trust explains that most IRC settlement offers should be near the Scheduled Value, but an offer can be lower or higher based on the evidence. The Maximum Value is reserved for highly credible claims involving the most serious injuries and damages, definite and severe qualifying exposure and a clear causal connection.
Need help now? Call 800.291.0963
Live chat available 24/7, 365 days a year.
Submit Your Case
Current 7% IRC Payment Percentage
The official Trust website states that the current Individualized Review Claim Payment Percentage is 7% of the gross settlement value, effective June 23, 2023. The rate was reduced from 8%.
Mathematical illustration only — not a guaranteed payment. The $130,000 Mesothelioma IRC Scheduled Value × 7% = $9,100. The $325,000 Mesothelioma Maximum Value × 7% = $22,750. A claimant is not guaranteed the Scheduled Value or Maximum Value, and the applicable payment depends on the claim’s liquidated gross settlement value and the Trust rules in force when payment is made.
The 7% IRC Payment Percentage should not be mechanically applied to the Trust’s fixed Discounted Cash Payment amounts. DCP and IRC are different claim-resolution methods.
DCP and Individualized Review Options
The Trust provides two principal filing paths: Discounted Cash Payment (DCP) and Individualized Review Claim (IRC), along with an option to defer consideration of a claim.
DCP is intended for claimants whose valid asbestos personal-injury claims can be readily determined and who elect a fixed, certain payment using a less burdensome process. DCP claims are processed before IRC claims received at the same time.
IRC is intended for serious or fatal asbestos-related injuries requiring individualized evaluation. The Trust states that IRC payments are intended to equal the full tort-system value of the claim multiplied by the applicable Payment Percentage, but the valuation is limited to the several liability of Celotex or Carey Canada, whichever is greater.
A claimant may also defer a claim and later elect an available filing or payment option under the Trust’s procedures.
Carey Canada Exposure Evidence
The official Trust requires convincing evidence of exposure to Celotex or Carey Canada asbestos-containing products. Relevant evidence includes the claimant’s occupation and job duties, industry, employer or jobsite, employment dates, how the product was used and the frequency, duration and nature of the exposure.
For some claimed exposures, the Trust requires stronger site-specific proof. For example, certain direct exposures before 1975 outside specified industries require available evidence demonstrating the presence of Celotex or Carey Canada products at the claimed site during the relevant period.
For first exposure after 1975, the Trust describes evidence involving maintenance, rip-out, renovation or repair of equipment or facilities where Celotex or Carey Canada asbestos-containing products were used.
Because Carey Canada was engaged in asbestos-fiber mining, milling and processing, a Carey Canada claim can involve a different factual exposure history from a Celotex building-product claim even though both are resolved by the same Trust.
Eligibility and Claim Filing
The official Trust eligibility page states that the bankruptcy Bar Date was March 15, 1996. Individuals who filed valid Proofs of Claim on or before that date may file with the Trust. Individuals diagnosed after the Bar Date are treated as future-injury claimants and may file qualifying claims.
The Trust’s FAQ explains that a bankruptcy Proof of Claim is not itself a Celotex Trust claim. A claimant must separately file a Trust claim using the applicable DCP or IRC procedure.
Claims can be filed electronically through Trust Online or by hard-copy claim form. Supporting medical and exposure evidence must accompany the filing as required by the Claims Resolution Procedures.
The Trust’s current website also displays 2025 audit notices, a January 2025 deferral-period notice and a December 2025 cross-trust audit notice, providing current evidence of ongoing administration.
Important Carey Canada Claim Distinctions
Carey Canada is not a separate asbestos bankruptcy trust. Carey Canada and Celotex claims are resolved through the Celotex Asbestos Settlement Trust.
The current 7% percentage applies to IRC gross settlement values. The Trust’s DCP option is a fixed-payment process and should not be recalculated by simply multiplying a DCP amount by 7%.
The Scheduled and Maximum IRC values are not guaranteed payments. The Trust evaluates individualized claims based on injury, damages, exposure evidence, causation and other claim-specific factors.
A 2025 annual report, summary of claims disposed, financial statements and trustee account were filed with and approved by the U.S. Bankruptcy Court in 2026. However, the underlying financial exhibits were not available in sufficiently accessible official public text during this build to responsibly extract current assets, cumulative claims paid or lifetime dollars paid. Those figures are therefore omitted rather than estimated or taken from law-firm or lead-generation websites.
Confirmed Primary Sources for Trust Facts
No law-firm or lead-generation website was used as factual authority for this page. Primary Trust and federal-court materials reviewed include:
- Official Celotex Asbestos Settlement Trust website.
- Official Trust history covering Celotex and Carey Canada.
- Official Trust FAQ and filing information.
- Official IRC Scheduled and Maximum Values.
- Official claim-filing instructions explaining DCP, IRC and deferral.
- Official Celotex and Carey Canada exposure-evidence requirements.
- Official Trust eligibility and Bar Date information.
- U.S. Court of Appeals record describing the Celotex/Carey Canada bankruptcy and Trust.
Related Asbestos Trust Fund Resources
Asbestos Trust Fund Information
Filing and Eligibility
Payments and Claim Review
Frequently Asked Questions About Carey Canada Asbestos Trust Claims
Does Carey Canada have its own separate asbestos trust?
No. Qualifying Carey Canada claims are handled by the Celotex Asbestos Settlement Trust, which was created following the joint bankruptcies of Celotex Corporation and Carey Canada Incorporated.
Is the Celotex Asbestos Settlement Trust active?
Yes. The official Trust website remains active and provides current filing, audit, deferral and claim-administration information.
What is the current IRC Payment Percentage?
The official Trust website states that the current IRC Payment Percentage is 7% of gross settlement value, effective June 23, 2023.
What is the Carey Canada mesothelioma IRC value?
The Trust publishes a $130,000 Scheduled Value and $325,000 Maximum Value for Malignant Mesothelioma IRC claims.
What does 7% of the mesothelioma Scheduled Value equal?
$130,000 multiplied by 7% equals $9,100. This is a mathematical illustration only — not a guaranteed payment.
What did Carey Canada do?
The official Trust states that Carey Canada was a wholly owned Celotex subsidiary engaged in mining, milling and processing asbestos fiber.
What proof of Carey Canada exposure may be required?
The Trust can require occupational, jobsite, product, time-period, frequency and duration evidence showing convincing exposure to Celotex or Carey Canada asbestos-containing products.
What filing options does the Trust offer?
The Trust offers Discounted Cash Payment and Individualized Review claim procedures, and eligible claimants may also defer consideration of a claim.
Get Help Reviewing a Carey Canada Asbestos Claim
Call 800.291.0963
Live chat is available 24/7, 365 days a year.
Prior exposure to asbestos associated with Carey Canada does not automatically establish Celotex Asbestos Settlement Trust eligibility or compensation. Eligibility depends on diagnosis, medical documentation, qualifying Carey Canada or Celotex exposure evidence, applicable 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.