FACT Act

Summary

Furthering Asbestos Claim Transparency Act of 2015 or FACT Act Amends federal bankruptcy law concerning a trust formed under a reorganization plan following the discharge in bankruptcy of a debtor corporation in order to assume the debtor's liability with respect to claims seeking recovery for personal injury, wrongful death, or property damage allegedly caused by the presence of, or exposure to, asbestos or asbestos-containing products. Requires such a trust to file with the bankruptcy court quarterly reports, available on the public docket, which describe each demand the trust has received from a claimant and the basis for any payment made to that claimant (excluding any confidential medical record or the claimant's full Social Security number). Requires such reports, upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by it, to provide any information related to payment from, and demands for payment from, the trust to any party to any action in law or equity concerning liability for asbestos exposure.

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Timeline

1. 4 February 2015

   Introduced

   Read twice and referred to the Committee on the Judiciary.

   Source: IntroReferral

2. 4 February 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 3 February 2016

   Committee

   Committee on the Judiciary. Hearings held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 4 February 2015 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 4 February 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 4 February 2015

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 4 February 2015

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Flake, Jeff [R-AZ] · R · Sponsor
• Sen. Cornyn, John [R-TX] · R · Sponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Cosponsor
• · ssju00 · Standing

Related records

• related to → Furthering Asbestos Claim Transparency (FACT) Act of 2015
• related to ← Fairness in Class Action Litigation and Furthering Asbestos Claim Transparency Act of 2016