(1) A defendant may file a motion requesting a stay of the proceeding on or before the later of the sixtieth day before the date of trial in the action is set to commence or any other such time for which the defendant has a good faith reasonable basis to request a stay. The motion shall identify the asbestos trust claims not previously identified that the defendant believes the plaintiff can file and include information supporting the asbestos trust claims.

(2) Within ten (10) days of receiving the defendant’s motion, the plaintiff shall:

(a) File the asbestos trust claims; or

(b) File a written response with the court requesting a determination that the cost to file the asbestos trust claims exceeds the plaintiff’s reasonably anticipated recovery.

(3)

(a) Subject to paragraph (b) of this subsection (3), if the court determines that there is a basis for the plaintiff to file an asbestos trust claim identified in the motion to stay, the court shall stay the asbestos action until the plaintiff files the asbestos trust claim and produces all related trust claims materials.

(b) If the court determines that the cost of submitting an asbestos trust claim exceeds the plaintiff’s reasonably anticipated recovery, the court shall stay the asbestos action until the plaintiff files with the court and provides all parties with a verified statement of the plaintiff’s history of exposure, usage, or other connection to asbestos covered by that asbestos trust.

(4) An asbestos action may not be set for trial until at least sixty (60) days after the plaintiff complies with the requirements of this section.