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April 11, 2016

In Wake of Silver Conviction, New York Assembly Democrats Sponsor Asbestos Trust Transparency Bill

Eight New York Assembly Democrats are sponsoring an asbestos trust transparency bill (A5978), reports Forbes/Legal Newsline

This comes in the wake of the conviction of former Assembly Speaker Sheldon Silver over charges he steered state grant money to a doctor whose asbestos research center then referred patients to a law firm, resulting in millions in fees for Silver. 

“It is in the interest of justice that there be transparency with, respect to claims made in the bankruptcy system and in civil asbestos litigation to address the potential for fraud and duplicate payments (whether by trusts or solvent companies),” states a memorandum in support attached to the bill. “Presentation of inconsistent or fraudulent claims data may deprive injured claimants of compensation in favor of those who have not been injured by asbestos products.”

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