What Are Asbestos Trust Funds? Asbestos trust funds are funds created to compensate victims of mesothelioma caused by asbestos manufacturers. These funds are created when the manufacturers file for Chapter 11 bankruptcy protection.In 1988, the Johns Manville Corporation (Manville Trust), a longtime user of asbestos and manufacturer of asbestos-containing products, was designated as the first … Continue reading Mesothelioma & Asbestos Trust Funds