TRUST FUND GUIDE
A plain-English guide to the Owens Corning/Fibreboard Asbestos Personal Injury Trust, its two sub-accounts, and what each disease level is worth.
Owens Corning and Fibreboard made some of the most widely used asbestos insulation in the country, including Kaylo pipe and block insulation and Pabco products. If you worked around these materials and later got sick, a bankruptcy trust may owe you money. This guide explains how the trust works and what claims are worth. You can read more about Owens Corning and the other asbestos companies we handle.
We are Throneberry Law Group, a nationwide mesothelioma and asbestos firm. We help workers and families file with the Owens Corning/Fibreboard trust and every other trust they qualify for. Our founding attorney, Michael Throneberry, took this work personally after his father-in-law died of mesothelioma, and our firm gives each client direct attention instead of treating a claim like a number.
CURRENT TRUST STATUS
BACKGROUND
The Owens Corning/Fibreboard Asbestos Personal Injury Trust is a court-created fund that pays people who got sick from asbestos products made or sold by Owens Corning and Fibreboard Corporation. Both companies faced tens of thousands of asbestos lawsuits.
Owens Corning filed for Chapter 11 bankruptcy on October 5, 2000. Its Sixth Amended Joint Plan of Reorganization created the trust, which was formed on October 31, 2006 to pay current and future asbestos claims. The trust began accepting claims on August 27, 2007.
The trust is split into two sub-accounts. The Owens Corning Sub-Account pays claims tied to Owens Corning products and job sites. The Fibreboard Sub-Account pays claims tied to Fibreboard products and sites. Each sub-account has its own money and its own payment percentage, so the same illness can pay a different amount depending on which company you were exposed to.
PRODUCTS & COMPANIES COVERED
The trust covers asbestos products from two companies. The best known is Kaylo, a line of insulation sold under the Owens Corning name.
If you can tie your exposure to any of these products or an approved site, you may be able to file. Matching your work history to the right sub-account is one of the most valuable things a lawyer does for you.
INDUSTRIES, TRADES & OCCUPATIONS
Kaylo and Pabco insulation showed up almost anywhere heat had to be controlled. Workers breathed in asbestos dust while cutting, fitting, and tearing out these materials, often for years.
Common exposure settings include oil refineries, power plants, shipyards, and the construction trades. Insulators, pipefitters, boilermakers, and laborers were among the hardest hit.
Family members were also exposed. Asbestos dust traveled home on work clothes, and spouses and children who washed those clothes have developed mesothelioma decades later.
HOW IT WORKS
The trust uses a rulebook called the Trust Distribution Procedures (TDP). The TDP sets a dollar value for each illness, called the scheduled value, then pays a percentage of it.
Because the trust must save money for future victims, it pays only a fraction of each scheduled value. That fraction is the payment percentage. Under the June 30, 2026 notices, the Owens Corning Sub-Account pays 4.3% and the Fibreboard Sub-Account pays 3.5%.
Both rates dropped in 2026. The Owens Corning rate fell from 4.7% to 4.3%, and the Fibreboard rate fell from 3.7% to 3.5%. Trusts adjust these rates every few years as they re-measure how many claims are still coming.
A quick example. If an Owens Corning mesothelioma claim carries the $215,000 scheduled value, the trust pays 4.3% of it, about $9,245, on the Expedited Review track. The Fibreboard side pays less because both its scheduled value and its percentage are lower.
FILING OPTIONS
You choose between two review tracks, and each pays the current payment percentage.
Expedited Review (ER)
The trust checks your records against fixed medical and exposure criteria and pays the scheduled value for your disease level, times the payment percentage. It is faster and predictable.
Individual Review (IR)
The trust looks at your case in detail. The value can be higher than the scheduled value, up to a maximum, or lower. IR takes longer but can pay more for strong cases, such as a younger claimant with heavy documented exposure.
THE NUMBERS
Owens Corning and Fibreboard Scheduled Values
These are the scheduled values in the trust’s Amended TDP (December 2, 2015), shown as the Owens Corning value and then the Fibreboard value. The trust pays the current payment percentage of these amounts on Expedited Review.
| Disease Level | OC Scheduled | FB Scheduled |
|---|---|---|
| Mesothelioma (Level VIII) | $215,000 | $135,000 |
| Lung Cancer 1 (Level VII) | $40,000 | $27,000 |
| Lung Cancer 2 (Level VI) | Individual Review | Individual Review |
| Other Cancer (Level V) | $22,000 | $12,000 |
| Severe Asbestosis (Level IV) | $42,000 | $29,000 |
| Asbestosis / Pleural (Level III) | $19,000 | $11,500 |
| Asbestosis / Pleural (Level II) | $8,000 | $4,500 |
| Other Asbestos Disease (Level I) | $400 | $240 |
Individual Review Values, Owens Corning Sub-Account
Under Individual Review the trust may value a claim between the scheduled value and a maximum. These are the Owens Corning figures.
| Disease Level | Scheduled | Average | Maximum |
|---|---|---|---|
| Mesothelioma (VIII) | $215,000 | $270,000 | $650,000 |
| Lung Cancer 1 (VII) | $40,000 | $50,000 | $150,000 |
| Severe Asbestosis (IV) | $42,000 | $50,000 | $150,000 |
Individual Review Values, Fibreboard Sub-Account
The Fibreboard mesothelioma figures are lower.
| Disease Level | Scheduled | Average | Maximum |
|---|---|---|---|
| Mesothelioma (VIII) | $135,000 | $180,000 | $450,000 |
All figures are gross claim values before the payment percentage is applied. The trust pays 4.3% (Owens Corning) or 3.5% (Fibreboard) of these amounts under the current 2026 notices. Values can change.
GETTING STARTED
A strong trust claim takes preparation. Here is the path most clients walk with our firm.
1. Gather medical records. You need clear proof of diagnosis, usually a pathology report and a doctor’s statement linking the illness to asbestos.
2. Document your work history. Build a record of every job site, employer, and product you were around. Coworker statements can fill in gaps.
3. Match to covered products. Tie your exposure back to the companies and products this trust covers. That link decides whether you qualify and which sub-fund pays.
4. Choose your review track. Your attorney helps decide. Well-documented, serious cases often do better under full review; simpler cases often do better on the fast track.
5. File and track. Submit the claim and supporting documents, then follow it through review and payment.
WHY THRONEBERRY LAW
Trust claims can look simple on paper, but small choices change the outcome by thousands of dollars. Here is what we bring.
22+ Years of Asbestos Work
Attorney Michael Throneberry has pursued asbestos cases for more than two decades, with hundreds of millions recovered for injured workers and families.
No Fee Unless We Win
We work on contingency. You pay nothing unless we recover money for you, and your first case review is free.
Personal Attention
Our founding attorney stays involved in every case, and we travel to you, including to your home or hospital room.
GET HELP
If you or someone in your family has mesothelioma, asbestos lung cancer, or another asbestos illness, we can tell you which trusts you qualify for and what a claim may be worth. A case review costs you nothing. Start with our contact form.
SOURCES
Owens Corning/Fibreboard Asbestos Personal Injury Trust, Payments page and 2026 notices: OC Sub-Account Payment Percentage Notice (June 30, 2026) and FB Sub-Account Payment Percentage Notice (June 30, 2026).
Scheduled, average, and maximum values from the trust’s Amended Trust Distribution Procedures (December 2, 2015).
Product and exposure-date detail from the firm’s internal Bankruptcy Affidavit (Mooney) checklist.
DISCLAIMER
This page is general information, not legal advice. Trust payment percentages, scheduled values, and rules change over time. The numbers shown reflect the trust’s published procedures and notices as of mid-2026. For the most current figures, check the trust’s official notices or ask an attorney about your own situation. Sending a form or a message does not create an attorney-client relationship.
© 2026 Throneberry Law Group. All rights reserved.
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