Asbestos Legislation Introduced in House of Representatives

According to officials in the office of Rep. Chris Cannon (R-Utah), the bill, H.R. 4696, was introduced last month and would amend the U.S. Bankruptcy Code to limit claims filed against a bankrupt company to those stemming from an asbestos-related malignancy.

Cannon spokesman Chris McKay said the bill was introduced after working primarily with bankrupt asbestos defendants, including GAF Corp., which changed its name to G-I Holdings just …