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Ending the Asbestos Racket

December 12, 2012 - 12:03pm
Submitted by Tim Gilmore on December 12, 2012 - 12:03pm

Ohio is on the verge of becoming the first state to clamp down on the abuse of asbestos bankruptcy trusts by requiring greater transparency from claimants.  The trusts, established to compensate asbestos victims when defendant companies go bankrupt, risk being prematurely depleted when plaintiffs’ lawyer “double dip,” first making claims to the trusts and then filing lawsuits against solvent companies for the same injury, the Wall Street Journal reports.

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