Veterans advocacy group calls on House leaders to support FACT Act
Sending HR 256 forward would benefit asbestos victims by requiring asbestos bankruptcy trusts to file quarterly reports on claims and awards. These trusts have spent over $17.5 billion of the $36 billion placed in trust for victims, who include veterans. Up to 40 percent of the money spent was used to pay for plaintiffs' lawyers. In addition, some of the money was paid out to fraudulent or inflated claims, further reducing the trust funds.
"The FACT Act will not interfere with or delay asbestos victims' ability to file legitimate lawsuits or trust claims," Hall said, "In fact, HR 526 will ensure that trusts have sufficient funds to pay legitimate claims by helping to eliminate fraud in the system."
Veteran Resource List is a registered 501(c)3 nonprofit established to connect veterans with local service providers.
Goodlatte already is on record as supporting the FACT Act.
"The FACT Act is a measured reform that strikes the proper balance between introducing much-needed transparency in the asbestos bankruptcy trusts system and protecting the privacy of individual claimants," said Goodlatte when the legislation was passed by the U.S. House in May 2015.