WASHINGTON, D.C.– Harold Kim, executive vice president of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement about the Texas legislature’s passage of a bill to curb “double dip” claims against asbestos bankruptcy trusts and in the tort system, and urging Governor Greg Abbott to sign HB 1492 into law:
“We applaud the Texas legislature for taking a significant step to combat fraud and abuse in asbestos litigation, discourage ‘double dipping’ by plaintiffs’ lawyers, and to ensure that companies and bankruptcy trusts both pay their fair share of recoveries to claimants. This bill will also help Texas manufacturing companies and protect jobs by ensuring that companies are not bankrupted by abusive claims.
“Texas can join a growing number of states including Arizona, Ohio, Oklahoma, West Virginia and Wisconsin that have recently enacted such laws to bring transparency to the asbestos compensation system. “We especially commend Representative Doug Miller and Senator Charles Schwertner for their tireless work on this bill, and urge Governor Abbott to swiftly sign it into law.”
ILR seeks to promote civil justice reform through legislative, political, judicial, and educational activities at the national, state, and local levels.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.
