The $2.5-billion Manville Personal Injury Settlement Trust...
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The $2.5-billion Manville Personal Injury Settlement Trust begins paying asbestos victims Monday, but trust officials expect a temporary cash shortage in the third or fourth quarter of 1989. The trust initially will be funded with $815 million in cash, of which $615 million will come from insurance settlements and from Manville, which will also contribute common and preferred stock and bonds. Because it is difficult to predict how many claims will be filed, the plan takes into account the possibility of temporary cash shortfalls and allows the trust to sell stock under certain conditions.
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