WASHINGTON, D.C.—Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement about the Arizona legislature’s passage of a bill to curb “double dip” claims against asbestos bankruptcy trusts and in the tort system, and urging Governor Doug Ducey to sign House Bill 2603 into law:
“This bill will help combat fraud and abuse in asbestos litigation, discourage ‘double dipping’ by plaintiffs’ lawyers, and ensure that companies and bankruptcy trusts both pay their fair share of recoveries to claimants. It will also help Arizona manufacturing companies and protect jobs by ensuring that companies are not bankrupted by abusive claims.
“Arizona can join a growing number of states including Ohio, Oklahoma, West Virginia and Wisconsin that have recently enacted such laws to bring transparency to the asbestos compensation system. We urge Governor Ducey to swiftly sign this bill 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.