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Can I Take Legal Action If the Company Responsible for My Asbestos Exposure Is No Longer in Business?


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Yes. If the company at fault for your asbestos exposure went out of business, you can still take legal action. However, recovering the compensation you deserve might be problematic.

answered by Channika DeSilva Gonzalez

While they are immune to lawsuits, bankrupt asbestos companies continue to provide victims of exposure with compensation through their asbestos trust funds

After the discovery of a link between asbestos exposure and deadly diseases in the '60s, companies which mined, produced, or used asbestos started to find themselves named as defendants in many lawsuits. As a consequence, a large number of these companies began to file for bankruptcy protection. The asbestos companies whose request was approved were subsequently required to set up asbestos trust funds so that the people they injured could still recover the compensation they deserved.

Nowadays, there are approximately 60 active asbestos trust funds in the U.S. which continue to provide financial compensation to victims of occupational asbestos exposure. Since bankruptcy protection grants asbestos companies immunity to lawsuits, filing a claim with their asbestos trust funds is the only way of obtaining compensation as a victim of exposure. This course of action is much simpler and faster than filing a regular lawsuit, as asbestos trust funds were created with the intent of lessening the burden of asbestos victims.

However, asbestos victims can also hold liable out-of-business companies. While you can indeed file a lawsuit against a company which is no longer operational, recovering financial compensation might prove quite challenging, as they often lack the necessary resources to pay out liabilities. Nevertheless, taking legal action is a worthy endeavor in this case as well. A lawyer with vast experience in pursuing compensation for asbestos victims can help you tremendously even if the company responsible for your suffering is out of business.

If you struggle with a disease which developed as a result of workplace asbestos exposure, Environmental Litigation Group, P.C. will gladly help you file a claim with asbestos trust funds. Contact us now at 205.328.9200 for further guidance and our specialized lawyers will promptly evaluate your case.

We also Represent U.S. Veterans Exposed to Asbestos while Serving their Country

Other Related Questions

Secondary exposure occurs when a person is not in direct contact with a source of asbestos. It is equally dangerous as occupational asbestos exposure and can be either domestic or environmental.

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The statute of limitations refers to the amount of time you have to file an asbestos claim after diagnosis. It varies between one and six years, depending on the state you live in.

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Trust transparency laws have been enforced by some U.S. states to protect the legal system from fraud and abuse. Some argue that these laws make the process of recovering compensation more difficult for asbestos victims.

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While inhaling asbestos fibers from old building materials can be as dangerous as occupational exposure, asbestos trust funds provide compensation mostly to former employees.

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If multiple companies are at fault for your injury, you can file a claim with the asbestos trust funds of those which are under bankruptcy protection, as well as a lawsuit against those which are not.

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No. Companies with asbestos trust funds are under bankruptcy protection, which means they are immune to lawsuits. However, you can recover compensation from their asbestos trust fund.

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As diseases which occur as a result of asbestos exposure take decades to ensue, recalling the exact circumstances is rarely easy. Working with a lawyer specialized in asbestos cases is instrumental.

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The victims of secondary asbestos exposure are also eligible for compensation. Although the legal process is more challenging, a lawyer specializing in asbestos cases will be able to help you greatly.

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No. Only the companies which sought bankruptcy protection were required to establish asbestos trust funds as a source of compensation for injured workers and their families.

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Asbestos exposure can be supported by the occupational and medical records you provide your attorney with, as well as by eyewitness testimony. Our legal experts will also conduct thorough research to discover additional evidence.

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