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Asbestos bankruptcy trusts are trusts established by firms that have filed for reorganization under Chapter 11 of the United States Bankruptcy Code to pay personal injury claims caused by exposure to asbestos. At least 56 such trusts were established from the mid-1970s to 2011.
Furthering Asbestos Claim Transparency (FACT) Act of 2013; Long title: To amend title 11 of the United States Code to require the public disclosure by trusts established under section 524(g) of such title, of quarterly reports that contain detailed information regarding the receipt and disposition of claims for injuries based on exposure to asbestos; and for other purposes.
Asbestos litigation is the longest, most expensive mass tort in U.S. history, involving more than 8,000 defendants and 700,000 claimants. [1] By the early 1990s, "more than half of the 25 largest asbestos manufacturers in the US, including Amatex, Carey-Canada, Celotex, Eagle-Picher, Forty-Eight Insulations, Manville Corporation, National Gypsum, Standard Insulation, Unarco, and UNR Industries ...
The Furthering Asbestos Claim Transparency (FACT) Act of 2015 (old bill number- H.R. 526, now Section 3 of H.R. 1927) is a bill introduced in the U.S. House of Representatives by Congressman Blake Farenthold that would require asbestos trusts in the United States to file quarterly reports about the payouts they make and personal information on the victims who receive them in a publicly ...
On this page, environmental lawsuit means "a lawsuit where the well-being of an environmental asset or the well-being of a set of environmental assets is in dispute". Also on this page, lawsuit with environmental relevance means "a lawsuit where a non-environmental entity or a set of non-environmental entities is in dispute, but whose outcome has relevance for an environmental asset or for a ...
Mine owner W.R. Grace filed for bankruptcy in 2001 and paid $1.8 billion into an asbestos trust fund to settle future cases. It paid about $270 million to government agencies for environmental ...
(Reuters) -A state judge in Oregon has overturned a jury's $260 million verdict against Johnson & Johnson in a lawsuit brought by a woman who said she got mesothelioma, a deadly cancer linked to ...
Asbestos trust and bankruptcy - 2000-2006 [ edit ] The company filed for reorganization December 6, 2000, [ 4 ] with the federal bankruptcy court in Delaware for reorganization under Chapter 11 because pending asbestos injury claims appeared to exceed the value of the company, and were growing.