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February 17, 2017

U.S. House Panel Approves Asbestos “Double-Dipping” Reform Bill

The U.S. House Judiciary Committee has approved the Furthering Asbestos Claim Transparency, or FACT Act, of 2017 by a vote of 19-11. The bill targets the country’s current asbestos injury compensation system writes Forbes/Legal Newsline.

“The unfortunate truth is that some dishonest parties take advantage of the asbestos trusts due to the lack of transparency within our current bankruptcy laws,” said House Judiciary Chairman Bob Goodlatte.

“This fraudulent activity can reduce the amount of funds available to deserving parties. The FACT Act requires bankruptcy trusts to be transparent like other courts.”

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