Over the last three decades, more than 70 corporations involved in asbestos lawsuits have filed for bankruptcy. Many victims assume that if the company/companies they believe are responsible for their mesothelioma files bankruptcy, they will no longer be able to pursue any kind of financial compensation from that company. This is rarely the case.
Most of these companies, with the court’s approval, form a Bankruptcy Trust. These trusts allow for current and future “legitimate” claims against the company to receive some kind of settlement. Many factors affect how long it takes a claimant against a bankrupt company to receive a settlement, and how much that settlement might be.
Tags: asbestos, mesothelioma, settlement
