Cancer News, Treatment and Research

A bill that would require more transparency on the part of asbestos trusts was passed by the House Judiciary Committee this week, paving the way for legislation that would require asbestos personal injury settlement trusts authorized by federal bankruptcy courts to disclose information on their claims each quarter and to respond to information requests from parties to asbestos litigation. An article in Legal Newsline reports that the bill would also require the trusts to file public reports providing information with each claim received by them and would require the trusts to provide information about said claims to parties in an asbestos suit, upon request. It is the latter that alarms some members of the House of Representatives. Several House Democrats proposed amendments to the bill, seeking to limit what information about the asbestos claimants would be made available to the public. They believe the new legislation will further harm those whose lived have been touched by asbestos, including those seeking compensation to assist with medical expenses for mesothelioma and other diseases caused by asbestos exposure . “What this bill does is allow asbestos victims to be re-victimized by exposing their health information to the public,” Rep. John Conyers (D-Michigan) said during hearings earlier this week. Others, like the U.S. Chamber of Commerce’s Institute for Legal Reform (ILR), think the legislation is a wise move. “The asbestos compensation system should not allow fraud and abuse to drain the funds available to deserving claimants,” said ILR Executive Vice President Harold Kim. “Exploitation of the system also saddles solvent companies, their shareholders, and employees with paying unjust claims. Asbestos bankruptcy trusts have operated without adequate oversight for too long.”