The Plan of Liquidation of Rapid-American Corporation (the “Plan”) was effective as of June 4, 2021.
The Trust was created pursuant to the Trust Agreement and Plan. The purpose of the Trust is to assume, liquidate, and resolve Asbestos Personal Injury Claims and to use the Trust Assets to pay Claimants in accordance with the terms of the TDP.
The Trust’s objective is to pay Asbestos Personal Injury Claims resulting from exposure to asbestos-containing products sold, manufactured, supplied, produced, distributed, released, advertised or marketed by The Philip Carey Manufacturing Company before June 1, 1967.