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Jan Hayden Talks with Law360 About the Asbestos Bankruptcy Trust Bill

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The Furthering Asbestos Claim Transparency Act, which was recently approved by the U.S. House of Representatives, if enacted, would require asbestos trusts set up under Section 524(g) of the U.S. Bankruptcy Code for insolvent companies that have been hammered with personal injury and wrongful death claims to disclose information on the individuals who file the claims. The goal is to deter the payment of duplicative and fraudulent claims that some say have been piling up since 1994, when Congress passed the legislation, which allows bankrupt companies mired in asbestos-related litigation to set up such trusts. In this Law360 article, Jan Hayden comments on the positive aspects of this bill. 

"To the extent that [the bill is] making sure there's no double dipping, it might work for the benefit of future claimants," said Ms. Hayden.

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