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World Trade Center Added

WASHINGTON (Reuters) – Until now it has been the elephant in the room during Senate debates about asbestos poisoning: What about the vast cloud of dust that blanketed New York City when the World Trade Center collapsed? Several senators have spent years working...

More criticism in June 2006

Legislation to create a national asbestos trust fund is once again drawing criticism for allegedly shortchanging the injured, making the public pay for employers’ wrongdoing, and setting the stage for eventual financial collapse. In late May, Senate Judiciary...

2006 economic report

Douglas Holtz-Eakin delivered a significant blow against the effort to revive asbestos-reform legislation when he testified earlier this month that a cost assessment of the measure he had provided in November as director of the Congressional Budget Office (CBO) was...

House Disagrees with Senate

The article below was published in today’s (6-23) Congress Daily.  We will stay on top of this as usual, we have to realize that this issue will NEVER go away.  The Members of Congress that signed the letter mentioned in the story support the harsh medical...

FAIR ACT – recent news

WASHINGTON (AFX) — Crowded out by the debate over immigration policy, the war in Iraq and tension over Iran, the asbestos reform bill is on Congress’s backburner, waiting for a new push. But while it’s unclear whether there will be action on the bill...

Judge Approves Owens Corning Plan

July 17, 2006 A federal judge on Monday approved Owens Corning’s plan for emerging from bankruptcy this fall, five years after seeking protection from creditors over health claims related to its asbestos products. Owens Corning sought Chapter 11 bankruptcy...

Judge OKs Owens Plan to Exit Bankruptcy

Judge Judith Fitzgerald, a federal bankruptcy judge, indicated from the bench that she approved of Owens Corning’s plan for emerging from bankruptcy. The plan has an effective date of Oct. 30, 2006. The reorganization plan, filed in December, 2005, follows more...

Owens Corning Plans to Exit Bankruptcy in 2006

$6.7bn settlement for asbestos victims 10 may 06 BUILDING products maker Owens Corning has agreed to a $5.2 billion  settlement of long-running claims for illnesses linked to asbestos, the company and lawyers for plaintiffs said. The deal is likely to be the biggest...

What Some Senators Have to Say About the FAIR ACT

The FAIR ACT was introduced onto the U.S. Senate floor early in 2006.  The Act would prohibit any lawsuit being filed to recover for any asbestos-related disease.  Instead, a trust fund would be set up.  One major problem with the trust fund concept is that none of...

Another asbestos company exits bankruptcy

ABB Ltd said no appeals had been filed by an end-March deadline against a reorganisation plan for its US unit CE, meaning the plan is final and effectively drawing a line under a damaging 16 year legal battle over asbestos compensation for the Swiss/Swedish...