When the link between asbestos exposure and illnesses like mesothelioma became known to the public, thousands of families took legal action against companies that made and sold asbestos-containing products.
Many of these companies filed for bankruptcy. Courts ordered them to establish asbestos bankruptcy trust funds and set aside money for victims and their families.
Firm Partner Lisa Nathanson Busch manages the Asbestos Bankruptcy Department at Simmons Hanly Conroy. With nearly 30 years of experience, she has helped over 30,000 clients pursue compensation from asbestos trust funds.
Below, Lisa answers some of the most commonly asked questions about how asbestos bankruptcy trust claims work.
What are asbestos bankruptcy trust funds?
Throughout the 20th century, countless workers who were exposed to asbestos got sick, but they didn’t know that asbestos was the cause of their illness or that companies often intentionally hid these risks.
However, as the truth started to come to light in the 1970s and 80s, many asbestos companies were hit by a wave of lawsuits. A number of companies started filing for bankruptcy. Some went out of business, but others may have filed for bankruptcy to try to limit their liability and avoid being held accountable.
Under Chapter 11 bankruptcy law, courts required them to create asbestos bankruptcy trusts and set money aside, so both current and future victims harmed by their products could receive compensation.
Can I still file a lawsuit if I file a trust fund claim?
In many cases, you can pursue compensation from asbestos trust funds and a mesothelioma lawsuit at the same time. The lawsuit would be against companies that haven’t filed for bankruptcy or set up trust funds.
Our firm is unique in that we can help families file both trust fund claims and lawsuits simultaneously. This way, we’re able to maximize the compensation our clients may receive and make sure no opportunity for recovery is missed.
These funds are still around today, and they’ve helped thousands of families get the financial support they need after a mesothelioma diagnosis.
How do asbestos bankruptcy trust claims work?
If you’ve been diagnosed with an asbestos-related illness like mesothelioma, you may be able to file asbestos bankruptcy trust claims — but only if your illness can be linked to products made by a specific bankrupt company with an active trust.
How do you prove asbestos exposure?
Mesothelioma is a type of cancer that’s caused by exposure to asbestos. After contacting our firm, your legal team will work with you to determine your past exposure history.
We’ll go over your work history, family history, and any past military service to see where asbestos may have been present. Exposure can happen anywhere, like a workplace, school, or even at home through asbestos-contaminated products like talcum powder and other cosmetics.
We have an extensive database of documents that we’ve collected over 25 years, which we’re able to utilize for all of our clients. Whether it’s corporate invoices, U.S. Navy documents, or ship documents, these are all important pieces of evidence that help us prove what asbestos-containing products were at the sites where our clients were exposed.
And by utilizing this database, our mesothelioma attorneys can help our clients over and over, getting them the compensation they deserve.
How many asbestos bankruptcy trusts are there?
Right now, there are over 60 asbestos trusts in the United States. These companies manufactured or sold a wide range of products that contained asbestos, such as construction materials, insulation, and automotive parts.
Many trade workers were exposed to multiple asbestos products made by different companies throughout their careers, especially if they frequently traveled to various job sites.
As a result, many of the clients we work with are able to file claims with more than one trust depending on their exposure to specific products and even contractors installing the asbestos-containing products.
How much money is left in the asbestos trust funds?
As of 2025, there are still billions of dollars available across all asbestos trust funds. Even though billions have already been paid out to families since the first trust was established, these trusts were designed to ensure there’s money available for people who are currently ill and for future victims.
Payouts from asbestos trusts ultimately depend on several factors, like your diagnosis, medical bills, age, the severity of exposure in your case, and more.
How long does the asbestos bankruptcy trust claims process typically take?
We know how important compensation can be after a mesothelioma diagnosis, so we aim to move the process along as quickly as possible for our clients.
Why should families choose Simmons Hanly Conroy?
We have been involved in asbestos litigation for over 25 years, and we’ve become leaders in this field. We know better than anybody how to try your case, how to get the fullest value of your case, and also how to treat you as you deserve to be treated as somebody who’s sick and whose family is deserving of help.
These companies should be punished for what they did to your family, and we can start by going after all of the companies and corporations that manufactured and used products with asbestos in them.
Pursue Compensation from Asbestos Bankruptcy Trusts
As one of the country’s top mesothelioma law firms, Simmons Hanly Conroy has the resources and experience to fight for clients in all 50 states.
To date, we’ve secured more than $10.3 billion in mesothelioma compensation for clients nationwide. There are no upfront costs or hourly fees to work with our team.
Contact us now. You may be eligible for compensation that we can pursue on your behalf.
