The Celotex Asbestos Settlement Trust was founded February 1, 1998 as a result of the bankruptcy of Celotex Corporation and Carey Canada Incorporated. 

The Trust is organized to process, liquidate, and pay all valid asbestos personal injury claims in accordance with the Claims Resolution Procedures (CRP) approved by the bankruptcy court.  These procedures provide the methods for filing a claim.

The goal of the Trust is to process and pay claims as promptly and efficiently as possible.