The first asbestos trust fund was established by Johns-Manville in the early 1980s. Johns-Manville was one of the most notable manufacturers of asbestos-containing products.
Johns-Manville first filed for Chapter 11 bankruptcy in 1982 and, after several years, re-emerged by establishing the Manville personal injury settlement trust in 1988. Other manufacturers would follow the lead of Johns-Manville and create their own trusts after filing for bankruptcy.