Asbestos compensation bill to reach Senate floor in February: Specter News
Asbestos compensation bill to reach Senate floor in February: Specter

[JURIST] US Sen. Arlen Specter (R-PA) [official website] said Tuesday that a Senate floor debate on a proposed bill to compensate asbestos [JURIST news archive; EPA backgrounder] victims will begin February 6. Specter has co-sponsored the Fairness in Asbestos Injury Resolution Act of 2005 [bill summary] with Sen. Patrick Leahy (D-VT) [official website] to develop a $140 billion fund [JURIST report] to pay claims brought by victims exposed to the disease-causing mineral, in lieu of litigation. If approved, the fund will be financed by defendant companies and insurers. The bill has been criticized by small and medium-sized companies who say that they will be expected to pay too much into the fund while larger companies will benefit by receiving breaks from asbestos liabilities. Reuters has more.

Previously in JURIST's Paper Chase