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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 ...
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 ...
It was used in such applications as electrical insulation for hotplate wiring and in building insulation. As of March 2013, there were 85 new personal injury claims related to asbestos a day. [5] There have been hundreds of thousands of asbestos injury claims over the past three decades which has led to bankruptcy for some companies. [1]
In time it became a generic term for other companies' similar asbestos-cement products, and later an even more generic term for a hard, fireproof composite material, fibre cement boards, typically used in wall construction. It can also be found in insulation, siding, roof gutters, and cement wallboard. The more prevalent transite found in wall ...
On November 16, 2000 it was reported that Armstrong Holdings Inc. was facing about 173,000 asbestos personal injury claims that would cost between $758.8 million and $1.36 billion through 2006. They filed bankruptcy due to these liabilities. [30]
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