WASHINGTON, D.C. – Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement about the U.S. Department of Justice (DOJ) statement of interest in asbestos bankruptcy trust creation:
“The Department of Justice took an historic step to confront the systemic fraud and mismanagement in asbestos litigation.
“With today’s announcement, the DOJ has served notice that they will be taking a comprehensive approach towards increasing transparency and accountability of the asbestos trusts.
“Plaintiffs’ lawyers commonly file ‘double dip’ claims against the trusts and in the courts, gaming the asbestos compensation system for their own benefit. At the same time, widespread inconsistencies in the information that lawyers provide raise red flags of fraud.
“The DOJ is to be commended for putting the asbestos litigation industry on notice that defrauding asbestos trusts and litigants will no longer be tolerated.”
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.
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