Mesothelioma Lawsuits: The manufacturer of the products I was exposed to was put out of business. What happens now?
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Like tobacco companies, as publicity about the dangers of asbestos increased, the number of companies sued has surged. And as a result, many business giants with heavy asbestos liability have been driven to bankruptcy protection since there is an automatic halt to any litigation. And companies warn of many more bankruptcies to come.
However, there are asbestos bankruptcy trusts - entities that are formed to pay asbestos claims for these bankrupt firms, often using insurance proceeds.