WASHINGTON, D.C. — Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement about the Tennessee legislature’s passage of a bill to curb “double dip” claims against asbestos bankruptcy trusts and in the tort system, and urging Governor Bill Haslam to sign HB 2234 into law:
“The Tennessee legislature’s new bill aimed at stopping plaintiffs’ lawyer ‘double dipping’ — filing inconsistent claims with multiple trusts and in the tort system for the same claimant — is a significant step to combat asbestos lawsuit fraud and abuse. This bill will ensure that companies and bankruptcy trusts both pay their fair share of recoveries to claimants. It will also help Tennessee manufacturing companies and protect jobs by ensuring that no more companies are bankrupted by abusive claims.
“Tennessee can join a growing number of states including Arizona, Ohio, Oklahoma, Texas, West Virginia, and Wisconsin that have recently enacted such laws to bring transparency to the asbestos compensation system.
“We especially commend Representative Jon Lundberg and Senator John Stevens for their tireless work on this bill, and urge Governor Haslam 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.