MS HB1426

Creates the "Asbestos Bankruptcy Trust Claims Transparency Act" requiring plaintiffs in asbestos actions to disclose all asbestos trust claims filed or available to them within 30 days of filing suit.

Requires plaintiffs to provide sworn statements listing all asbestos trust claims made and identifying claims not filed only because costs exceed anticipated recovery, with continuing duty to supplement disclosures within 30 days of any changes.

Permits defendants to file motions requesting stays to identify additional asbestos trust claims the plaintiff can file, with plaintiffs having 10 days to either file identified claims or explain why costs exceed anticipated recovery.

Makes trust materials and governance documents presumed relevant and admissible in evidence without privilege protection, and allows defendants to seek discovery from asbestos trusts with plaintiff consent.

Allows courts to reopen and adjust judgments within one year if plaintiffs file asbestos trust claims after obtaining judgment for trusts that existed at the time of judgment; applies to actions filed on or after July 1, 2017.