Furthering Asbestos Claim Transparency (FACT) Act of 2013

Bill: 113-hr-982
Sponsor: full_name: Rep. Farenthold, Blake [R-TX-27]
Introduced: 2013-03-06
Policy area: Finance and Financial Sector
Subjects: Bankruptcy

Civil actions and liability

Hazardous wastes and toxic substances
Latest action: action_date: 2013-11-14
text: Received in the Senate and Read twice and referred to the Committee on the Judiciary.

Summaries:
action_date: 2013-03-06
action_desc: Introduced in House
text: <p> Furthering Asbestos Claim Transparency (FACT) Act of 2013 - 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. </p> <p>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).</p> <p>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.</p>

action_date: 2013-11-13
action_desc: Passed House amended
text: <p> Furthering Asbestos Claim Transparency (FACT) Act of 2013 - 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. </p> <p>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).</p> <p>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.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 982 IN THE HOUSE OF REPRESENTATIVES March 6, 2013 Mr. Farenthold (for himself and Mr. Matheson ) introduced the following bill; which was referred to the Committee on the Judiciary A BILL To amend title 11 of the United States Code to require the public disclosure by trusts established under section 524(g) of such title, of quarterly reports that contain detailed information regarding the receipt and disposition of claims for injuries based on exposure to asbestos; and for other purposes.

1. Short title This Act may be cited as the Furthering Asbestos Claim Transparency (FACT) Act of 2013 . 2. Amendments Section 524(g) of title 11, United States Code, is amended by adding at the end the following: (8) A trust described in paragraph (2) shall, subject to section 107— (A) file with the bankruptcy court, not later than 60 days after the end of every quarter, a report that shall be made available on the court’s public docket and with respect to such quarter— (i) describes each demand the trust received from, including the name and exposure history of, a claimant and the basis for any payment from the trust made to such claimant; and (ii) does not include any confidential medical record or the claimant’s full social security number; and (B) upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by the trust to comply with such request, provide in a timely manner any information related to payment from, and demands for payment from, such trust, subject to appropriate protective orders, to any party to any action in law or equity if the subject of such action concerns liability for asbestos exposure. . 3. Effective date; application of amendments (a) Effective date Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act. (b) Application of amendments The amendments made by this Act shall apply with respect to cases commenced under title 11 of the United States Code before, on, or after the date of the enactment of this Act.

tv_txt: IB Union Calendar No. 180 113th CONGRESS 1st Session H. R. 982 [Report No. 113–254] IN THE HOUSE OF REPRESENTATIVES March 6, 2013 Mr. Farenthold (for himself and Mr. Matheson ) introduced the following bill; which was referred to the Committee on the Judiciary October 30, 2013 Additional sponsor: Mr. Chabot October 30, 2013 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed A BILL To amend title 11 of the United States Code to require the public disclosure by trusts established under section 524(g) of such title, of quarterly reports that contain detailed information regarding the receipt and disposition of claims for injuries based on exposure to asbestos; and for other purposes.

1. Short title This Act may be cited as the Furthering Asbestos Claim Transparency (FACT) Act of 2013 . 2. Amendments Section 524(g) of title 11, United States Code, is amended by adding at the end the following: (8) A trust described in paragraph (2) shall, subject to section 107— (A) file with the bankruptcy court, not later than 60 days after the end of every quarter, a report that shall be made available on the court’s public docket and with respect to such quarter— (i) describes each demand the trust received from, including the name and exposure history of, a claimant and the basis for any payment from the trust made to such claimant; and (ii) does not include any confidential medical record or the claimant’s full social security number; and (B) upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by the trust to comply with such request, provide in a timely manner any information related to payment from, and demands for payment from, such trust, subject to appropriate protective orders, to any party to any action in law or equity if the subject of such action concerns liability for asbestos exposure. . 3. Effective date; application of amendments (a) Effective date Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act. (b) Application of amendments The amendments made by this Act shall apply with respect to cases commenced under title 11 of the United States Code before, on, or after the date of the enactment of this Act.

October 30, 2013 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

tv_txt: IIB 113th CONGRESS 1st Session H. R. 982 IN THE SENATE OF THE UNITED STATES November 14, 2013 Received; read twice and referred to the Committee on the Judiciary AN ACT To amend title 11 of the United States Code to require the public disclosure by trusts established under section 524(g) of such title, of quarterly reports that contain detailed information regarding the receipt and disposition of claims for injuries based on exposure to asbestos; and for other purposes.

1. Short title This Act may be cited as the Furthering Asbestos Claim Transparency (FACT) Act of 2013 . 2. Amendments Section 524(g) of title 11, United States Code, is amended by adding at the end the following: (8) A trust described in paragraph (2) shall, subject to section 107— (A) file with the bankruptcy court, not later than 60 days after the end of every quarter, a report that shall be made available on the court’s public docket and with respect to such quarter— (i) describes each demand the trust received from, including the name and exposure history of, a claimant and the basis for any payment from the trust made to such claimant; and (ii) does not include any confidential medical record or the claimant’s full social security number; and (B) upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by the trust to comply with such request, provide in a timely manner any information related to payment from, and demands for payment from, such trust, subject to appropriate protective orders, to any party to any action in law or equity if the subject of such action concerns liability for asbestos exposure. . 3. Effective date; application of amendments (a) Effective date Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act. (b) Application of amendments The amendments made by this Act shall apply with respect to cases commenced under title 11 of the United States Code before, on, or after the date of the enactment of this Act.

Passed the House of Representatives November 13, 2013. Karen L. Haas, Clerk

tv_txt: IB 113th CONGRESS 1st Session H. R. 982 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend title 11 of the United States Code to require the public disclosure by trusts established under section 524(g) of such title, of quarterly reports that contain detailed information regarding the receipt and disposition of claims for injuries based on exposure to asbestos; and for other purposes.

1. Short title This Act may be cited as the Furthering Asbestos Claim Transparency (FACT) Act of 2013 . 2. Amendments Section 524(g) of title 11, United States Code, is amended by adding at the end the following: (8) A trust described in paragraph (2) shall, subject to section 107— (A) file with the bankruptcy court, not later than 60 days after the end of every quarter, a report that shall be made available on the court’s public docket and with respect to such quarter— (i) describes each demand the trust received from, including the name and exposure history of, a claimant and the basis for any payment from the trust made to such claimant; and (ii) does not include any confidential medical record or the claimant’s full social security number; and (B) upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by the trust to comply with such request, provide in a timely manner any information related to payment from, and demands for payment from, such trust, subject to appropriate protective orders, to any party to any action in law or equity if the subject of such action concerns liability for asbestos exposure. . 3. Effective date; application of amendments (a) Effective date Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act. (b) Application of amendments The amendments made by this Act shall apply with respect to cases commenced under title 11 of the United States Code before, on, or after the date of the enactment of this Act.

Passed the House of Representatives November 13, 2013. Karen L. Haas, Clerk.