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CLLA NEWSWIRE | FROM THE CLLA NEWSWIRE
New Bill Suggests Asbestos Reports Be Made Public
David Goch, Washington Legislative Counsel | April 26, 2012
Rep. Ben Quayle (R-Ariz.) recently introduced H.R. 4369, a bill to amend Title 11 of the United States Code to require the public disclosure of quarterly reports by trusts established under section 524(g) of the title.
The reports in question contain detailed information about the receipt and disposition of claims for injuries based on exposure to asbestos. The bill also requires the reports to be filed with the Executive Office for United States Trustees.
According to Quayle, the act was created to "ensure that asbestos trust assets are preserved for the truly sick and needy by discouraging fraudulent and abusive claims."
The Furthering Asbestos Claims Transparency (FACT) Act of 2012 was referred to the Judiciary Committee on April 17, which will consider it before potentially sending it on to the entire House or Senate.
To read the proposed bill, click here.
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