Celotex Corporation & Carey Canada Asbestos Trust Claims
The formal trust is the Celotex Asbestos Settlement Trust. It was founded February 1, 1998 following the bankruptcy of Celotex Corporation and Carey Canada Incorporated. The Trust processes valid asbestos personal-injury claims involving exposure to asbestos mined, manufactured or distributed by Celotex, Carey Canada or predecessor companies. Its official website currently states that the Individualized Review Claim (IRC) Payment Percentage is 7%, effective June 23, 2023.
Celotex and Carey Canada Trust Facts
| Official trust name | Celotex Asbestos Settlement Trust |
|---|---|
| Debtors | Celotex Corporation and Carey Canada Incorporated |
| Chapter 11 filing | October 12, 1990 |
| Trust founded | February 1, 1998 |
| Current IRC Payment Percentage | 7%, effective June 23, 2023 |
| Prior IRC Payment Percentage | 8% |
| Claim options | Discounted Cash Payment (DCP) and Individualized Review Claim (IRC) |
| IRC Mesothelioma Scheduled Value | $130,000 |
| IRC Mesothelioma Maximum Value | $325,000 |
| Claims administration | Delaware Claims Processing Facility (DCPF) |
| Current processing condition | Active Trust; a deferral period has been in effect since January 1, 2025 under the Trust’s official notice |
Bankruptcy and Trust History
The official Trust website states that Celotex Corporation and Carey Canada Incorporated filed Chapter 11 on October 12, 1990. Celotex manufactured and distributed roofing and building products, while its wholly owned subsidiary Carey Canada had mined, milled and processed asbestos fiber.
The Celotex Asbestos Settlement Trust was founded on February 1, 1998 as a result of the bankruptcy. It operates under bankruptcy-court-approved Claims Resolution Procedures to process, liquidate and pay valid asbestos personal-injury claims.
The Trust is intended to compensate both people already injured by qualifying Celotex or Carey Canada asbestos exposure and people who develop qualifying asbestos-related disease later.
DCP and Individualized Review Claims
The Trust provides two principal filing choices: Discounted Cash Payment (DCP) and Individualized Review Claim (IRC).
DCP uses a shorter, more standardized process and results in a single fixed payment for an approved claim in the same disease category. DCP claims are processed before IRC claims received at the same time.
IRC involves a more detailed individualized evaluation. The Trust determines a gross settlement value based on the claimant’s disease, exposure, damages and other claim-specific evidence, and then applies the current IRC Payment Percentage. IRC payments can be greater or less than a DCP payment.
The Trust’s official filing information also explains that IRC generally involves two payments, with the second payment made two years after the first, subject to the governing procedures.
IRC Disease Values
The Trust’s current official IRC Settlement page publishes these Scheduled and Maximum Values for valid Individualized Review Claims:
| Category | Scheduled Disease | Scheduled Value | Maximum Value |
|---|---|---|---|
| I | Bilateral Pleural Disease | $8,000 | $20,000 |
| II | Non-disabling Bilateral Interstitial Lung Disease | $16,000 | $25,600 |
| III | Disabling Bilateral Interstitial Lung Disease | $32,000 | $192,000 |
| IV | Other Cancer | $26,000 | $130,000 |
| V | Lung Cancer (One) | $39,000 | $260,000 |
| VI | Lung Cancer (Two) | $58,000 | $260,000 |
| VII | Malignant Mesothelioma | $130,000 | $325,000 |
The Trust explains that most IRC settlement offers should be near the Scheduled Value, but claim-specific factors can justify a lower or higher gross value. Except for qualifying Extraordinary Claims, the liquidated value cannot exceed the applicable Maximum Value.
These are IRC gross settlement values. They must not be confused with DCP fixed-payment amounts or with the cash actually paid after application of the IRC Payment Percentage.
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 homepage states that, as of June 23, 2023, the current IRC Payment Percentage is 7% of gross settlement value. The official June 23, 2023 notice confirms that the Trustee reduced the percentage from 8% to 7% after considering present and future claims, Trust assets, liquidity, expected expenses and income.
The 7% percentage applies to Individualized Review Claims. DCP claims operate under their own fixed-payment schedule, so it would be inaccurate to multiply every DCP amount by 7%.
Mathematical illustration only — not a guaranteed payment. An IRC Mesothelioma gross settlement value of $130,000 × 7% = $9,100. A gross value of $325,000 × 7% = $22,750. The second figure uses the published Maximum Value and does not mean a mesothelioma claimant will receive that value; Maximum Values are reserved for claims whose evidence supports the highest valuation under the CRP.
Claim Eligibility and Filing
The Trust’s official eligibility guidance states that people who filed a valid bankruptcy Proof of Claim by the March 15, 1996 Bar Date may file with the Trust. People diagnosed after the Bar Date are treated as future injury claimants and may also file qualifying claims.
The Trust states that a claimant generally needs an asbestos-related injury and evidence connecting causation to Celotex, Carey Canada or predecessor-company asbestos products.
A Trust claim is separate from the Proof of Claim filed in the bankruptcy. Claims can be filed electronically through Trust Online by registered filers or by submitting the applicable hard-copy DCP or IRC claim materials.
Medical and Exposure Evidence
The Trust evaluates medical and exposure evidence under its bankruptcy-court-approved Claims Resolution Procedures. The claimant must establish a qualifying asbestos-related injury and a causal connection to asbestos associated with Celotex or Carey Canada.
For IRC valuation, the Trust considers the seriousness of the injury, credibility of the medical and exposure evidence, severity and definiteness of Celotex or Carey Canada product exposure, and the causal connection between asbestos exposure and the claimed injury and damages.
The Trust expressly bases claim values on the several liability of Celotex or Carey Canada, whichever is greater. It does not value claims using conspiracy or concerted-action theories.
Current Claim-Processing Status
The Celotex Asbestos Settlement Trust remains operational. Its official website currently provides claim filing, Trust Online, deficiency-resolution, payment, audit and claimant-relations resources.
The Trust issued a notice making a deferral period effective January 1, 2025. Its FAQ explains that claims may be deferred by written notification or through Trust Online and later reactivated by notifying the Trust and providing supporting documentation.
The Trust also posted audit-related notices in 2025 and a cross-trust audit notice in December 2025, demonstrating continuing claims-administration activity.
A current audited 2025 or 2026 financial report providing total assets, current cumulative claims paid and current lifetime dollars paid was not located on the Trust’s publicly accessible official pages reviewed for this build. Older financial figures are therefore not presented as current.
Confirmed Primary Sources for Trust Facts
No law-firm or lead-generation website was used as factual authority for this page. Primary Trust materials used include:
- Official Celotex Asbestos Settlement Trust website.
- Official Trust history and background.
- Official IRC Settlement page with Scheduled and Maximum Values.
- Official June 23, 2023 Payment Percentage adjustment notice.
- Official claim-filing information.
- Official claimant-eligibility guidance.
- Official Trust payment guidance.
- Official Trust frequently asked questions.
- Official DCPF claimant-relations information.
Related Asbestos Trust Fund Resources
Asbestos Trust Fund Information
Filing and Eligibility
Payments and Claim Values
- Official 7% IRC Payment Percentage notice
- Official IRC Scheduled and Maximum Values
- Official payment procedures
Frequently Asked Questions About the Celotex Asbestos Settlement Trust
What is the official Celotex and Carey Canada asbestos trust name?
The formal name is the Celotex Asbestos Settlement Trust.
Is the Celotex Asbestos Settlement Trust active?
Yes. The Trust continues to maintain claim filing, payment, Trust Online, audit and claimant-relations resources, although a claim deferral period has been in effect since January 1, 2025.
What is the current Celotex 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 IRC mesothelioma Scheduled Value?
The Trust’s official IRC Settlement page lists $130,000 as the Scheduled Value and $325,000 as the Maximum Value for malignant mesothelioma.
What does 7% of the $130,000 mesothelioma Scheduled Value equal?
$130,000 multiplied by 7% equals $9,100. This is a mathematical illustration only — not a guaranteed payment.
What is the difference between DCP and IRC?
DCP is a standardized, shorter process with a single fixed payment. IRC uses individualized evaluation to determine a gross settlement value and then applies the IRC Payment Percentage.
Who can file a Celotex Trust claim?
People with qualifying claims who filed valid bankruptcy Proofs of Claim by the March 15, 1996 Bar Date may file, and qualifying people diagnosed after the Bar Date can file as future injury claimants.
Who administers Celotex asbestos claims?
The Trust’s claim operations are handled through the Delaware Claims Processing Facility, which provides claimant relations and Trust Online support.
Get Help Reviewing a Celotex or Carey Canada Asbestos Claim
Call 800.291.0963
Live chat is available 24/7, 365 days a year.
Prior exposure to a Celotex or Carey Canada asbestos-containing product does not automatically establish Trust eligibility or compensation. Eligibility and payment depend on the claimant’s diagnosis, exposure evidence, causation evidence, selected claim process, 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.