When commercials mention $30 billion, they are referring to the asbestos trust funds. Asbestos trust funds were established by companies that went bankrupt after becoming overwhelmed by the large number of mesothelioma lawsuits against them. Bankruptcy courts required them to establish asbestos trust funds for asbestos-exposure victims who contract asbestos-related illnesses.
These funds provide a means to get compensation without going through the court system. Asbestos trust fund claims usually resolve faster than lawsuits. However, compensation from these trust funds is generally lower than in a lawsuit. We have found that clients often qualify to file trust fund claims and a lawsuit.