THRONEBERRY LAW GROUP
Mesothelioma & Asbestos Attorneys
TRUST PAYMENT REFERENCE
A payment reference for the Bondex Asbestos Personal Injury Trust, formally the Specialty Products Holding Corp. Asbestos Personal Injury Trust, which pays claims for asbestos products of Bondex International, Republic Powdered Metals, and Specialty Products Holding Corp. Every figure below was checked against the trust's own Trust Distribution Procedures, claim filing instructions, FAQs, and notices, published by its claims processor, on October 18, 2026.
CURRENT TRUST STATUS
The Bondex asbestos trust pays 29.5% of a claim's value. The trustees raised the rate from 22% to 29.5% effective January 4, 2024, with supplemental payments to claimants paid at the old rate. A mesothelioma claim carries an $80,000 scheduled value, so an Expedited Review claim pays about $23,600. Individual Review averages $125,000 (about $36,875 at 29.5%) with a $300,000 maximum, and a mesothelioma claimant whose exposure was mostly Bondex products can qualify as an Extraordinary Claim worth up to eight times the scheduled value. The trust charges no filing fee and currently sets no deadline for curing deficiencies.
Throneberry Law Group files Bondex claims for drywall finishers, painters, carpenters, home remodelers, and the families of people who used Bondex joint compound and patching products at home. This page is part of our asbestos trust funds guide, which covers every trust we file against. Bondex is one of the few trusts where a non-occupational, do-it-yourself exposure history can carry a mesothelioma claim, so we screen every mesothelioma client for it.
PAYMENT REFERENCE
The table below is the short answer. The sections that follow explain each line.
| Current payment percentage | 29.5% of the liquidated value for Disease Levels II through VIII. Other Asbestos Disease (Level I) is a $70 cash discount payment that is not reduced by the percentage (TDP Section 4.3). |
|---|---|
| In effect since | January 4, 2024 (Notice Regarding Reconsidered Payment Percentage dated January 4, 2024, after a reconsideration under TDP Section 4.2 with the consent of the Trust Advisory Committee and the Future Claimants' Representative). Claimants paid at 22% received a supplemental payment. |
| Prior rates | 22% from the trust's opening on July 1, 2016 until January 4, 2024 (the trust's claim filing instructions state the 22% initial rate). The trust announced the reconsideration by notice dated March 3, 2022. |
| Review cycle | The trustees must reconsider the rate at least every three years, starting the first January after the plan's effective date, and may do so sooner on their own or at the TAC's or FCR's request (Section 4.2). If a lower rate is proposed but not yet adopted, the claim is paid at the lower rate, with the difference paid later if the proposal fails (Section 4.3). When a change is pending, a claimant holding a release has until the later of the change date or 30 days after receiving the release to return it at the old rate (notice dated March 3, 2022). |
| Mesothelioma scheduled value | $80,000 scheduled; $125,000 Individual Review average; $300,000 Individual Review maximum (Section 5.3(b)(3)). |
| Mesothelioma payout at the current rate | Expedited Review: about $23,600 ($80,000 x 29.5%). Individual Review awards are paid at 29.5% of the liquidated value, up to the maximum (about $88,500 at the $300,000 cap). |
| Review options | Expedited Review pays the scheduled value times 29.5% once the claim meets the medical and exposure criteria (Section 5.3(a)). Individual Review values the claim on the law of the claimant's jurisdiction and the trust's valuation factors, up to the maximum (Section 5.3(b)). Lung Cancer 2 (Level VI), foreign claims, and secondary exposure claims other than mesothelioma must go through Individual Review. A secondary exposure mesothelioma claim may use Expedited Review. Until the trust makes an Individual Review offer, the claimant may switch to Expedited Review. |
| Extraordinary Claims | Mesothelioma only. A claimant whose exposure to Bondex products made up at least 66.67% of total asbestos exposure, by duration or in proportion to other products, can be awarded up to eight times the scheduled value, $640,000, times 29.5%, about $188,800 (Section 5.4(a)). Extraordinary Claims go through Individual Review and are paid ahead of other claims. The trust expects to pay no more than 20% as many Extraordinary Claims as Individual Review claims in a year. |
| Exposure requirement | Debtor Exposure: meaningful and credible exposure before December 31, 1982 to an asbestos product sold, distributed, marketed, handled, processed, or manufactured by an SPHC Party (Bondex International, Republic Powdered Metals, or Specialty Products Holding Corp.), or to conduct for which an SPHC Party is responsible (Section 5.6(b)(1)(B)). Mesothelioma needs Debtor Exposure only. Lung Cancer 1, Other Cancer, Severe Asbestosis, and Level III need six months of Debtor Exposure before December 31, 1982 plus Significant Occupational Exposure (five cumulative years in an asbestos trade, at least two before December 31, 1982). Level II needs six months of Debtor Exposure plus five years of occupational asbestos exposure. The trust publishes no site list and recognizes no presumptive industries for product identification. |
| Filing deadline | Anyone first diagnosed after May 31, 2010 (the petition date) may file within three years after diagnosis or by January 15, 2020 (three years after the January 1, 2017 Initial Claims Filing Date, extended from January 1, 2020 by notice dated December 18, 2019), whichever is later, regardless of any state statute of limitations (Section 5.1(a)(2)). Claims diagnosed before May 31, 2010 had to be filed by January 15, 2020 if the claim was pending, tolled, or still within the statute of limitations on the petition date. |
| Fees and withdrawal rules | No filing fee (trust FAQ; Section 6.4). The TDP deems a claim withdrawn if the claimant does not accept, reject, or start arbitration within six months of the offer (Section 6.3), but the trust's FAQ says it has decided not to enforce that rule for now and has set no deadline for curing deficiencies or answering a disallowance. Deferral of up to three years keeps the queue position; a withdrawn claim may be refiled at any time and takes a new queue position. |
| Sequencing adjustment | Interest at the one-year Treasury bill rate on claims that wait a year or more for payment, capped at seven years and not paid on Level I claims (Section 7.5). |
| Claims processor | Claims Processing Facility, Inc. (CPF), 1771 West Diehl Road, Suite 220, Naperville, Illinois 60563, through the CPF e-File system. The trust's own address is c/o Wilmington Trust Company, Wilmington, Delaware. |
| Trust created | Under the Joint Plan of Reorganization of Specialty Products Holding Corp., Bondex International, Inc., Republic Powdered Metals, Inc., and NMBFiL, Inc., confirmed by the United States Bankruptcy Court for the District of Delaware on December 10, 2014 (Case No. 10-11780). The debtors filed for Chapter 11 on May 31, 2010. The trust began accepting claims July 1, 2016; the Initial Claims Filing Date was January 1, 2017. NMBFiL claims are handled by a separate trust under separate procedures. |
| Last checked | October 18, 2026, against cpf-inc.com (Bondex trust pages, FAQs, Product Information, Claim Filing Instructions, Forms and Letters, and news), the Specialty Products Holding Corp. Asbestos Personal Injury Trust Distribution Procedures, the Bondex Claim Filing Instructions (2016), the Bondex Presumptive Occupation List, and the trust's notices dated June 26, 2019, December 18, 2019, March 3, 2022, and January 4, 2024. |
SCHEDULE OF DISEASES
The trust sorts asbestos diseases into eight levels. Lung Cancer 2 (Level VI) has no scheduled value and goes through Individual Review only. Level I is a $70 cash discount payment paid in full. The values come from Section 5.3(b)(3) of the TDP and match the trust's 2016 claim filing instructions; the trust has posted no value change.
| Level | Disease | Scheduled Value | Payout at 29.5% | IR Average | IR Maximum |
|---|---|---|---|---|---|
| VIII | Mesothelioma | $80,000 | About $23,600 | $125,000 | $300,000 |
| VII | Lung Cancer 1 | $33,333 | About $9,833 | $50,000 | $120,000 |
| VI | Lung Cancer 2 | None (Individual Review only) | Individually valued | $9,250 | $22,000 |
| V | Other Cancer | $6,667 | About $1,967 | $10,000 | $24,000 |
| IV | Severe Asbestosis | $16,667 | About $4,917 | $25,000 | $60,000 |
| III | Asbestosis / Pleural Disease | $2,500 | About $738 | None | None |
| II | Asbestosis / Pleural Disease | $800 | About $236 | None | None |
| I | Other Asbestos Disease (cash discount) | $70 | $70 (paid at 100%) | None | None |
The payout column is the scheduled value times 29.5%, rounded. For mesothelioma, the gap between the $80,000 scheduled value and the $125,000 Individual Review average is wide enough that Individual Review is usually worth electing when the exposure and economic facts support it, and a claimant can switch back to Expedited Review any time before the trust makes an offer. The Extraordinary Claim track is the real prize: a mesothelioma claimant whose asbestos exposure was two-thirds or more Bondex product can reach $640,000 in liquidated value, about $188,800 at 29.5%.
FILING REQUIREMENTS
The trust checks three things on every claim: the disease, the exposure, and the timing. Bondex has no site list and no presumptive industries, so product proof carries the claim.
The claimant must show meaningful and credible exposure, before December 31, 1982, to an asbestos product sold, distributed, marketed, handled, processed, or manufactured by Bondex International, Republic Powdered Metals, or Specialty Products Holding Corp., or to conduct for which one of them is responsible (TDP Section 5.6(b)(1)(B)). The trust accepts a sworn statement of the injured person, a co-worker, or a family member based on personal knowledge, invoices, employment or construction records, or other credible evidence; a certification of counsel alone is not enough to put a product at a site (trust Product Information page). Because the trust recognizes no presumptive industries for product identification, the worker or a witness has to name the product. Mesothelioma needs Debtor Exposure only. Lung Cancer 1, Other Cancer, Severe Asbestosis, and Level III also need six months of Debtor Exposure before December 31, 1982 and Significant Occupational Exposure, which means at least five cumulative years, two of them before December 31, 1982, in an industry and occupation that handled raw asbestos, fabricated asbestos products, worked with asbestos products, or worked regularly alongside those who did (Section 5.6(b)(1)(A)). The trust publishes a 41-page Significant Occupational Exposure listing of industry and occupation pairs it accepts without a job description. Level II needs six months of Debtor Exposure plus five years of occupational asbestos exposure. A claimant who cannot meet the presumptive exposure rules, including the 1982 cutoff, can ask for Individual Review.
A mesothelioma claim needs a diagnosis of mesothelioma. The non-malignant levels need a diagnosis of Bilateral Asbestos-Related Nonmalignant Disease based on a physical examination by the diagnosing physician, which the trust defines as an in-person inspection for signs of disease with the physician stating that he or she performed or reviewed the B-reading, pulmonary function tests, or pathology relied on. Levels III and IV also need pulmonary function tests. The trust keeps a list of Unqualified Physicians whose reports it will not accept. The National Cancer Institute explains what mesothelioma is and how it is diagnosed.
Anyone first diagnosed after May 31, 2010 may file within three years after diagnosis, regardless of the state statute of limitations (Section 5.1(a)(2)). The alternative deadline, three years after the Initial Claims Filing Date, ran out on January 15, 2020 (extended from January 1, 2020 by notice dated December 18, 2019), so for a diagnosis today the deadline is three years from the diagnosis date. Claims diagnosed before May 31, 2010 needed to be filed by January 15, 2020 if they were pending against a debtor, tolled, or still within the statute of limitations on the petition date. The trust's FAQ says it is not enforcing the six-month release deadline and has set no deadline for curing deficiencies, but it also says it may reconsider that position, so we treat every offer as if the six-month rule applied.
Expedited Review pays the scheduled value times 29.5% once the claim meets the criteria, about $23,600 for mesothelioma. Individual Review values the claim on the law of the claimant's jurisdiction and the trust's factors, up to $300,000 for mesothelioma, with the average set at $125,000 (about $36,875 at 29.5%). The trust's FAQ confirms a claimant can switch from Individual Review to Expedited Review until the trust makes an offer, except for Level VI and foreign claims. An Extraordinary Claim, for a mesothelioma claimant whose Bondex exposure was at least 66.67% of total exposure by duration or in proportion to other products, can reach eight times the scheduled value and moves ahead in the payment queue (Section 5.4(a)); disputes go to an Extraordinary Claims Panel whose decision is final. A claimant who rejects the trust's offer can go to mediation or arbitration under the trust's ADR Procedures (Section 5.9) and, after non-binding arbitration, to the tort system (Sections 5.10 and 7.6).
RATE HISTORY
The Bondex trust opened on July 1, 2016 at a 22% payment percentage, the figure printed in its claim filing instructions. Section 4.2 of the TDP requires the trustees to reconsider the rate at least every three years, and by notice dated March 3, 2022 the trustee announced a reconsideration, directed the trust's advisors to report, and told claimants holding releases to return them within 30 days to lock in the current rate.
By notice dated January 4, 2024, after consultation with and consent of the Trust Advisory Committee and the Future Claimants' Representative, the trustees raised the rate from 22% to 29.5%, effective January 4, 2024, and announced supplemental payments to claimants paid at 22%. The notice cites the terms of a court-approved settlement among the matters the trustees considered. The trust's FAQ still states 29.5% as of October 18, 2026 and warns that the rate may change with future forecasts. On the three-year cycle, the next reconsideration is due by early 2027.
PRODUCTS AND WORK SITES
The trust's procedures define covered exposure by company, as asbestos products sold, distributed, marketed, handled, processed, or manufactured by Bondex International, Republic Powdered Metals, or Specialty Products Holding Corp., and the trust publishes no product list, no site list, and no presumptive industries. Our Bondex company page covers the company's history and the joint compound, patching, and texture products that put it in bankruptcy. Proof for the trust comes from two directions.
The exposure the trust pays for is the one the firm sees in construction trades: drywall finishers and tapers who mixed and sanded joint compound, painters and plasterers who patched walls, carpenters and HVAC workers on the same jobs, and the homeowners and do-it-yourselfers who finished basements and hung drywall with bagged compound from the hardware store. Mesothelioma needs only credible Bondex exposure, with no occupational requirement, which is why a home remodeling history matters here when it would not at most trusts. The same drywall and joint compound work usually supports claims against USG, W.R. Grace, and Celotex, and our page on products that contained asbestos explains how these building materials released fiber.
QUESTIONS
As of October 18, 2026, the Bondex Asbestos Personal Injury Trust pays 29.5% of a claim's liquidated value. The trustees raised the rate from 22% to 29.5% effective January 4, 2024, by notice dated the same day, and paid supplemental payments to claimants paid at 22%. The trust must reconsider the rate at least every three years, so the next review is due by early 2027.
The mesothelioma scheduled value is $80,000, so an Expedited Review claim pays about $23,600 at 29.5%. Individual Review averages $125,000 (about $36,875) with a $300,000 maximum (about $88,500). A mesothelioma claimant whose exposure was at least 66.67% Bondex product can qualify as an Extraordinary Claim worth up to $640,000, about $188,800 at 29.5%.
Usually not for a recent diagnosis. Anyone first diagnosed after May 31, 2010 may file within three years after diagnosis regardless of the state statute of limitations. The trust's alternative deadline of January 15, 2020 has passed, so claims diagnosed before May 31, 2010 and not filed by then are late. There is no filing fee, and the trust currently sets no deadline for curing deficiencies.
WHY THRONEBERRY LAW GROUP
Bondex is a product-identification trust. There is no site list to lean on and no presumptive industry, so the claim rises or falls on a witness who can say the bag said Bondex. We take that history early, while the client and co-workers can still give it, and we ask about basements, garages, and weekend remodeling jobs, because at this trust a homeowner's exposure counts for mesothelioma. When the exposure was mostly Bondex, we build the Extraordinary Claim at eight times the scheduled value instead of settling for the $23,600 Expedited Review offer. Our overview of mesothelioma compensation explains how trust payments fit with lawsuits and other recoveries, and attorney Michael Throneberry, who has handled asbestos cases for more than two decades, reviews every trust claim before it goes out.
We work on contingency, so you pay nothing unless we recover money for you. We serve clients nationwide, we can help Spanish-speaking families, and we travel to you, including to your home or hospital.
SOURCES
Figures on this page come from the Bondex Asbestos Personal Injury Trust pages published by its claims processor, Claims Processing Facility, Inc. (cpf-inc.com): the Bondex trust pages, FAQs, Product Information, Claim Filing Instructions, and Forms and Letters; the Specialty Products Holding Corp. Asbestos Personal Injury Trust Distribution Procedures; the Bondex Claim Filing Instructions (2016); the Bondex Presumptive Occupation List; the Bondex Trust information packet (July 1, 2016); and the trust's notices dated June 26, 2019 (filing deadline), December 18, 2019 (deadline extension), March 3, 2022 (payment percentage reconsideration), and January 4, 2024 (payment percentage increase). Last checked October 18, 2026.
DISCLAIMER
This page is general information, not legal advice. Trust payment percentages, scheduled values, and procedures change, and the trust's own current documents control. Payout examples are arithmetic on the trust's published figures, not a promise of any result. Contacting us or sending a form does not create an attorney-client relationship.
Copyright 2026 Throneberry Law Group. All rights reserved.
GET A FREE CASE REVIEW
If you or a family member mixed, sanded, or swept up joint compound or patching plaster before 1983, on the job or at home, the Bondex asbestos trust may owe a payment, and the same history often supports claims against the other drywall-product trusts. We check the current rate, the exposure rules, and the deadline for every trust before we file.
We serve clients across the country, we can help Spanish-speaking families, and we charge nothing unless we recover for you. Start with a free, no-obligation case review through our contact form.
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