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Bankruptcy reorganization plans from these companies are submitted to the court, but include input from debtors and liability claimants. Most companies set up asbestos bankruptcy settlement trusts as part of the plan. These are trusts that are organized to process and pay off asbestos personal injury claims. Asbestos claimants file claims against the asbestos bankruptcy trust rather than against the company that has declared bankruptcy. Some of these trusts hold billions of dollars.
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