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February 23, 2016

New ILR Study Shows Need for FACT Act

Could ILR’s new study, Insights & Inconsistencies: Lessons from the Garlock Trust Claims, help “bolster” efforts to pass the FACT Act?

That’s the question asked by Arizona Business Daily, which reports, “A study released last week by the U.S. Chamber Institute for Legal Reform found ‘widespread inconsistencies’ in the information provided by individual asbestos plaintiffs to the various bankruptcy trusts.”

In an interview with the newspaper published last week, Senator Flake’s spokesperson, Jason Samuels, said the senator is sponsoring the FACT Act because the lack of transparency and oversight has resulted in a system where claimants can file inconsistent claims among the numerous trusts or against trusts and solvent companies in the tort system.

Read the full story here.

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