What Happens When the Responsible Company No Longer Exists

One of the most common questions asbestos victims ask is:

“How can I file a claim if the company that exposed me to asbestos shut down years ago?”

The good news is that you may still have legal options. Even if the manufacturer, supplier, or employer no longer exists, an experienced asbestos attorney can often find ways to seek compensation. This is done through bankruptcy trusts, successor companies, or careful historical research.

Bankruptcy Trusts: Money Set Aside for Victims

Over the past several decades, many asbestos companies have filed for bankruptcy because of the large number of lawsuits filed by people diagnosed with mesothelioma, lung cancer, or asbestosis.

When a company files for Chapter 11 bankruptcy, the court often requires it to create an asbestos bankruptcy trust. This trust is a special fund of money set aside to pay current and future asbestos victims.

Key things to know about asbestos bankruptcy trusts:

1. There are over 60 active trusts in the U.S.

1. Each trust has its own rules about who qualifies and how much it will pay.

1. You do not usually have to go to court to file a trust claim.

1. Victims can receive payments even if the exposure happened decades ago.

A skilled asbestos attorney can figure out which trusts apply to your work history, the products you were exposed to, and your medical diagnosis.

Successor Liability: When Another Company is Responsible

Sometimes, a different company becomes legally responsible for asbestos products made by a business that no longer exists. This is called successor liability.

This can happen in several ways:

- Mergers or acquisitions – One company buys another and takes on its debts and responsibilities.

- Product line continuation – A company continues to make the same asbestos-containing products under a new name.

- Corporate restructuring – The company changes its name but keeps the same legal duties.

Finding the successor company is often a major step in winning an asbestos case.

Tracing Corporate Ownership: Following the Paper Trail

If the company that exposed you to asbestos no longer exists, finding out who is responsible takes detailed investigation.

- Review old company records, catalogs, and advertisements.

- Search corporate filings to uncover name changes, mergers, or shutdowns.

- Work with industry experts who can identify products from certain time periods.

- Check legal databases with decades of asbestos litigation information.

This work can reveal exactly which company is responsible today, so we know who to pursue for compensation.

Why You Shouldn’t Wait

Even if the company disappeared many years ago, there are deadlines called statutes of limitations. In most states, the countdown starts when you are diagnosed, not when you were exposed. But waiting too long can make it harder to gather evidence and locate witnesses.

Get Legal Help

If you or a loved one has been diagnosed with mesothelioma or another asbestos-related disease, and the company that exposed you no longer exists, you still have options. Call (800) 505-6000, fill out our contact form, or chat with a representative on our website for a free consultation.

Sources:

https://www.sec.gov/Archives/edgar/data/1219601/000121960121000011/R15.htm

https://www.jdsupra.com/legalnews/court-finds-plaintiff-properly-alleges-878565