Senate Judiciary Chairman Arlen Specter said Tuesday that legislation aimed at ending asbestos liability lawsuits in exchange for a $140 billion victims trust fund is near completion. In exchange for the fund, asbestos victims must give up their right to sue. Specter's next step is to present the bill to Democrats and Republicans. "I'm optimistic we'll have a bill which will get out of committee and beyond," he said.
April 13, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Legislation aimed at ending asbestos liability lawsuits in exchange for a $140 billion victims trust fund is near completion, Senate Judiciary Chairman Arlen Specter, R-Pa., said Tuesday.
The Senate has been stuck for years on how much money insurers and business groups should put into a trust fund in exchange for ending the lawsuits. In exchange for the fund, asbestos victims would give up their right to sue.
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