Asbestos Bankruptcy Trust Legislation Exits Committee, Heads to House of Representatives

WASHINGTON, D.C. –– The Subcommittee on Regulatory Reform, Commercial and Antitrust Law has approved H.R. 982, which would require the public disclosure of claims filed with asbestos trusts.

The “Furthering Asbestos Claim Transparency (FACT) Act of 2013” was ordered to be reported by a 17-14 vote on May 21, according to the House of Representatives online record of congressional actions.

The legislation was introduced on March 6 by Rep. Blake Farenthold (R-Texas) and Rep. Jim Matheson (D-Utah).

In March, witnesses including Hon. Peggy L. Ableman of McCarter & English LLP, Professor Todd Brown, SUNY Buffalo Law School, Elihu Inselbuch …