As a result of the widespread use of their deadly products, many of the manufacturers of asbestos-containing products have filed for Chapter 11 bankruptcy protection. After filing for bankruptcy, our laws protect asbestos companies from further individual lawsuits filed by people with mesothelioma or other asbestos-related disease. But before an asbestos company can reorganize and emerge from bankruptcy, courts require them to pay compensation for those injured by the company’s products and conduct. Part of the bankruptcy process, therefore, involves the company setting aside a specific amount of funds in order to pay the claims of all injured individuals. The sum of money set aside by the company, under court supervision, is referred to as a “bankruptcy trust.” Once the trust is established, it is the only way for victims injured by that company’s products to receive compensation from that company. The company can no longer be sued.… Read More