The long-running effort by government, asbestos tort defendants, and bankruptcy debtors to obtain a meaningful level of visibility into the multibillion-dollar asbestos bankruptcy trust compensation system, was challenged recently by announcements from 11 trusts. On January 15, these trusts filed notices updates to their record retention policies—including procedures for the destruction of legacy data and documents related to claims paid or otherwise resolved.

In many instances, the trusts plan to destroy records of claims on a rolling basis, once a claim has been resolved for one year. Other trusts intend to apply a 10-year period of data and document retention from the date a claim is resolved. In each instance, the trusts announced their intent to begin their respective purge of data and documents, beginning on April 15.

To learn more about this highly anticipated and somewhat controversial announcement, complete the form to access the full article published by Law360.