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What's New at ABI World
Online Features of Interest
to
Mass Torts Committee Members
Senate
Judiciary Committee Chairman Orrin
G. Hatch (R-Utah) pushed ahead on
Friday, May 23, with legislation to
end asbestos lawsuits and compensate
exposure victims through a multibillion-dollar
trust fund despite opposition from
labor groups. The legislation would
provide a $108 billion trust fund
for compensating victims of illnesses
linked to asbestos exposure. According
to CongressDaily, Sens. Ben
Nelson (D-Neb.) and Zell Miller (D-Ga.)
were the only Democrats to sign on.
The bill that Nelson and Miller backed
includes some modest modifications
to the draft that Hatch proposed earlier
this week, including provisions that
would allow en banc review
of decisions by a newly created federal
asbestos court. Unlike in the earlier
draft, the legislation also allows
cases to randomly be assigned to judges
and subjects suspected "bad actors"
to review by the attorney general's
office, the newswire reported.
Introducing
the measure on the Senate floor,
Hatch agreed to continue tweaking
the bill, emphasizing that he may
address one of the Democrats' biggest
concerns — that awards to
asbestos victims may exceed the
$108 billion trust fund. But the
lack of broad support from the Democratic
Caucus and whispers of objections
from some Republicans spells trouble
for the bill as written, observers
said, reported CongressDaily.
Hatch scheduled a June 3 hearing
and wants a committee to vote on
his bill the following week.
Separately,
CongressDaily reported
that the House Judiciary Committee
approved legislation on Wednesday
to move most national class action
cases from state to federal courts.
Stay abreast
of the latest on bankruptcy and asbestos litigation legislation by reading
the Daily
Bankruptcy Headlines at ABI World
Shanon
D. Murray of The Deal writes in "Letter from Delaware"
that asbestos reform legislation has overtaken bankruptcy reform legislation
as a priority in Congress. Read the commentary at ABI World's Bankruptcy
Thursday May 22, 2003 issue.
ABI's latest
publication, First-day Motions: A Practical Guide to the Critical
First Days of a Bankruptcy Case, is now available through the online
publications catalog. Written by Debra Grassgreen of Pachulski, Stang,
Ziehl, Young, Jones & Weintraub PC, this book addresses the basics
of first-day motions and provides an overview of administrative, operational
and substantive motions/orders.
Looking
for a new employee or searching for a new job? Check out the new ABI
Career Center-the one-stop site for job seekers and employers in the
insolvency community. Stop by to set up your personal profile or search
the available positions (over 120 on average). Employers are invited to
post free job listings and search the job-seeker database for possible
candidates.
Check out
the latest
Collier Case Update offered at ABI World. Case summaries are available
to ABI members.
The
latest
edition of the West Bankruptcy
Newsletter is now available. Provided
by West Group, the newsletter is a
weekly update on bankruptcy and debtor/creditor
matters.
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OTHER
STORIES IN THIS ISSUE:
The
Role of a Futures Representative in
Chapter 7 Liquidation Proceedings
Excerpts
From Address by Hon. Griffin B. Bell
2003 ABI Annual Spring Meeting
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