API Trust Yet Again Blows Out the Veil of Bankruptcy Trust Secrecy With Its Annual Report Listing Cl
Tis the season for annual “reports” by asbestos trusts created through chapter 11 cases. Most reports today are farcically small and useless, consisting mainly of financial statements without little or no detail about past payments and projected future payments. But, the API Trust recently (June 15) filed its annual report for 2015. Once again the API Trust reported – in one place and in public – the name of each claimant who was paid an “initial payment,” the exact amount paid, the disease for which the payment was made and the exact date of the payment. The API Trust has been following the same practice for its annual reports dating back to 2008. The reports are collected online by the API Trust at this page.