US SB357 | 2015-2016 | 114th Congress

Status

Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on February 4 2015 - 25% progression, died in chamber
Action: 2016-02-03 - Committee on the Judiciary. Hearings held.
Text: Latest bill text (Introduced) [PDF]

Summary

FACT Act Furthering Asbestos Claim Transparency Act of 2015 Amends federal bankruptcy law concerning a trust formed under a reorganization plan following the discharge in bankruptcy of a debtor corporation in order to assume the debtor's liability with respect to claims seeking recovery for personal injury, wrongful death, or property damage allegedly caused by the presence of, or exposure to, asbestos or asbestos-containing products. Requires such a trust to file with the bankruptcy court quarterly reports, available on the public docket, which describe each demand the trust has received from a claimant and the basis for any payment made to that claimant (excluding any confidential medical record or the claimant's full Social Security number). Requires such reports, upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by it, to provide any information related to payment from, and demands for payment from, the trust to any party to any action in law or equity concerning liability for asbestos exposure.

Tracking Information

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Title

FACT Act Furthering Asbestos Claim Transparency Act of 2015

Sponsors


History

DateChamberAction
2016-02-03SenateCommittee on the Judiciary. Hearings held.
2015-02-04SenateRead twice and referred to the Committee on the Judiciary.

Same As/Similar To

HB526 (Related) 2015-11-30 - Placed on the Union Calendar, Calendar No. 271.
HB1927 (Related) 2016-01-11 - Received in the Senate and Read twice and referred to the Committee on the Judiciary.

Subjects


US Congress State Sources


Bill Comments

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