Senate Considers FACT Act, Asbestos Claims

The U.S. Senate Judiciary Committee today will begin discussing the Furthering Asbestos Claims Transparency (FACT) Act — despite growing, widespread opposition. Groups of veterans, teachers, firefighters, municipal, county and state workers delivered letters Monday to ranking Senate Judiciary Committee members, voicing their disapproval. The bill would require new, stiffer requirements for those seeking compensation from asbestos trusts. The U.S. Bankruptcy Code established asbestos trusts to compensate victims of asbestos exposure. These trusts are worth an estimated $30 billion. Earlier this year, the FACT Act was folded into a larger proposal and renamed the Fairness in Class Action Litigation and Furthering Asbestos Claim Transparency Act of 2016 (H.R. 1927). The U.S. House ...

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