Yarway Asbestos Trust Fund, Exposure & Compensation

Yarway Corporation manufactured steam traps, strainers, and valves used for high-heat industrial steam systems. Many of these products incorporated asbestos-containing components for heat resistance, durability, and insulation.

Due to mounting asbestos liabilities, Yarway filed for Chapter 11 bankruptcy and created the Yarway Asbestos Personal Injury Trust to compensate victims exposed to Yarway asbestos products.

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If you or a loved one developed mesothelioma or another asbestos disease after exposure to Yarway asbestos products, an asbestos attorney at Early, Lucarelli, Sweeney & Meisenkothen (ELSM) can help you file a Yarway asbestos trust claim.

Yarway Asbestos Trust At a Glance

• The Yarway Asbestos Personal Injury Trust has paid approximately $182.09 million to asbestos victims with funds remaining.
• To file a Yarway asbestos trust claim, the victim must be diagnosed with mesothelioma or another asbestos disease and prove Yarway is responsible for the exposure.
• Yarway asbestos exposure may have occurred through use of Yarway valves and Yarway steam traps on the job.
• ELSM Law asbestos lawyers will review your case to determine your eligibility and file a Yarway asbestos claim on your behalf.

Understanding the Yarway Asbestos Personal Injury Trust Fund

On April 22, 2013, Yarway Corporation, an indirect wholly owned subsidiary of Tyco International plc, filed for Chapter 11 Bankruptcy in the United States Bankruptcy Court for the District of Delaware. The court confirmed Yarway’s reorganization plan on July 14, 2015.

The Yarway Asbestos Personal Injury Trust was officially established on August 19, 2015, to resolve both current and future asbestos personal injury claims related to exposure to asbestos-containing products that were manufactured, sold, or distributed by Yarway in accordance with the Trust Distribution Procedures. The asbestos trust fund is designed to protect Yarway and related entities from ongoing asbestos litigation. Approximately $325 million was contributed to fund the Trust.

The Trust began accepting claims on December 21, 2015, and has paid approximately 38,000 claims since the Trust’s inception. The Verus, LLC claims processing facility continues to accept Yarway asbestos claims today.

In 2024, the Yarway Asbestos Personal Injury Trust:

• Paid approximately 3,885 claims.
• Received approximately 12,290 personal injury claims.
• Paid over $31.435 million to asbestos victims in claim settlements.
• Reported over $2.56 million in settled but unpaid claims.
• Reported approximately $221.06 million in total assets.

Yarway Asbestos Personal Injury Trust Payment Percentage

The Yarway Asbestos Personal Injury Trust will compensate victims exposed to Yarway asbestos products based on the payment percentage system that is designed to preserve money for future claims. The current Yarway Asbestos Trust payment percentage is 27.5%. At a payment percentage of 27.5%, a Yarway mesothelioma claim filed under the expedited review process can be expected to receive the standard scheduled value payment of $15,125.

Determining Review Process for Yarway Claims

When filing a Yarway asbestos claim, an experienced asbestos lawyer reviews the injured party’s exposure, medical, and personal records to determine the proper review process and help maximize the claimant’s compensation.

Two claim review options are:

• Expedited Review (ER): An ER claim is evaluated through the standard review process to confirm that it satisfies all criteria outlined in the Trust Distribution Procedures to qualify for the standard value payment percentage.
• Individual Review (IR): An IR claim undergoes a detailed assessment of the claimant’s records to establish the individual liquidated value that may exceed the standard value. Certain exposure and medical diagnoses require the IR process.

An asbestos attorney at Early, Lucarelli, Sweeney & Meisenkothen will assess the claimant’s records to carefully prepare and file a mesothelioma claim. Compensation may vary based on factors including the claimant’s age, diagnosis, asbestos exposure, and the firm’s prior settlement history.

Yarway’s Role in Asbestos Exposure

The Yarnell-Waring Company Machine Works was established in 1908 and manufactured valves, controls, and steam traps for the steam-power industry. As the company focused on equipment used for power generation and high-temperature steam systems, asbestos was incorporated into certain product components to provide heat resistance and insulation. The company later adopted the name Yarway Corporation.

As awareness of asbestos-related illnesses increased, Yarway faced numerous asbestos lawsuits. These mounting asbestos liabilities ultimately led the company to file Chapter 11 bankruptcy protection and create an asbestos trust to compensate individuals harmed by exposure to asbestos-containing Yarway products.

Key events in Yarway’s asbestos history include:

• 1920s: Yarnell-Waring began incorporating asbestos components into valves and steam traps.
• 1962: Company renamed Yarway Corporation.
• 1986: Yarway was acquired by Keystone International, Inc. and thereafter operated as a subsidiary.
• 1988: Yarway’s manufacture, distribution, and sale of asbestos-containing materials ended.
• 1991: Yarway was first named as a defendant in asbestos lawsuits.
• 1990s-2010s: Thousands of asbestos-related lawsuits were filed against Yarway.
• 1997: Tyco International plc acquired Keystone International Inc., making Yarway an indirect wholly owned subsidiary of Tyco.
• 2000: Gimpel Corporation (formerly Triple G Acquisition Corporation, Delaware) merged into Yarway. Through this merger, Yarway became the corporate successor to Gimpel’s product lines, including those originating from Gimpel Machine Works, Inc., and assumed liabilities associated with asbestos claims related to those products.
• 2003: Yarway ceased all manufacturing, distribution, and sales operations.
• 2013: Yarway Corporation filed for Chapter 11 bankruptcy to address thousands of pending asbestos claims.
• 2015: The Yarway Asbestos Personal Injury Trust was established and began accepting asbestos-related personal injury claims.

Yarway Asbestos Products

Yarway Corporation was an industrial manufacturer of steam traps, strainers, and valves used in boilers and high-temperature steam systems. From the early twentieth century until the late 1980s, Yarway manufactured products that included asbestos components, such as gaskets and packing.

Yarway manufactured, sold, and distributed the following asbestos products:

• Yarway impulse steam traps: Industrial condensate control devices used in high-pressure steam systems to remove condensed water while retaining live steam, often incorporating asbestos in gaskets and packing to withstand extreme heat and pressure.
• Yarway strainers: Filtration devices installed in high-temperature industrial steam systems to remove debris and protect pumps, valves, and steam traps, with asbestos-containing gaskets used to provide heat resistance.
• Yarway valves: Industrial flow-control devices that regulate flow, pressure, and temperature of steam and fluids in high-temperature, high-pressure systems. They often incorporated asbestos-containing gaskets and packing for heat resistance and sealing.

Who Was Most At-Risk for Asbestos Exposure?

Individuals who worked directly with asbestos-containing Yarway steam traps, strainers, and valves were at increased risk of developing various types of mesothelioma or other asbestos-related diseases. Family members of these tradesmen also faced the risk of secondary asbestos exposure.

Occupational Exposure

Employees of Yarway Corporation may have been exposed to asbestos while manufacturing and assembling Yarway valves and steam traps. Additionally, tradesmen who worked in industrial facilities, railroad, and shipyards may have encountered asbestos exposure during the installation, maintenance, repair, or replacement of Yarway products.

Despite growing evidence linking asbestos exposure to serious health risks, tradesmen handling Yarway valves and Yarway steam traps were not provided with sufficient warnings or adequate protection.

Occupations at greater risk of Yarway asbestos exposure include:

Secondary Asbestos Exposure

Individuals who worked directly with Yarway asbestos products may have unknowingly put their family members at risk of secondary asbestos exposure when carrying asbestos fibers home on their clothing, shoes, and hair. This exposure occurred through direct physical contact with an occupationally exposed person (OEP) covered in asbestos particles or while shaking out, handling, or laundering clothing that were contaminated with asbestos.

If you believe your mesothelioma diagnosis is related to secondary exposure, you may be eligible to file a Yarway asbestos trust claim.

Understanding Your Legal Right to Compensation

Filing a Yarway asbestos claim with the Yarway Asbestos Personal Injury Trust requires specific documentation that complies with the Trust Distribution Procedures and filing deadlines.

An asbestos lawyer at ELSM will:

• Review your medical records to assess your Yarway asbestos claim eligibility.
• Collect your employment history to identify Yarway asbestos product use.
• Connect your exposure to known Yarway asbestos work or obtain written testimony confirming Yarway asbestos product exposure.
• File your Yarway asbestos claim correctly with the required documentation.
• Monitor the Yarway asbestos claim status and contact the Trust administrators to ensure timely progress.

With decades of experience handling asbestos trust claims, ELSM Law will guide victims throughout the claim filing process to help secure the compensation they deserve. Contact us today for a free case evaluation.

Frequently Asked Questions

How do I file a Yarway asbestos claim through the Yarway Asbestos Personal Injury Trust?

An ELSM Law asbestos lawyer will review your case and guide you through the mesothelioma claim filing process. They will prepare and submit the claim form with all the necessary documentation to the Yarway Asbestos Personal Injury Trust.

Can a family member file a Yarway Asbestos claim?

Yes, family members are able to file mesothelioma claims after death on behalf of a loved one who had exposure to Yarway asbestos products. Family members who have experienced secondary asbestos exposure and were diagnosed with mesothelioma or lung cancer may qualify to file a Yarway asbestos claim.

How much compensation can I receive through the Yarway Asbestos Trust?

An ELSM Law asbestos lawyer will determine the appropriate review process to file your Yarway asbestos claim. A mesothelioma claim could receive a settlement between $15,125,700 and $41,250 based on the current Yarway asbestos trust payment percentage.

How long do I have to file a claim with the Yarway Asbestos Trust?

The deadline to file a Yarway asbestos claim is set by the Yarway Asbestos Personal Injury Trust Distribution Procedures (TDP) and the applicable state statute of limitations. In general, claimants who were diagnosed on or after April 22, 2013, must file within three years of diagnosis or within three years of the Initial Claims Filing Date of June 21, 2016, whichever is later. Claimants diagnosed prior to the April 22, 2013 petition date were required to file by the June 21, 2019 deadline if their claims were properly tolled under the Trust’s procedures. An ELSM Law asbestos attorney will evaluate your case to ensure your claim is filed on time.