Providing Responsible Oversight of Trusts to Ensure Compensation and Transparency for Asbestos Victims Act of 2018 or the PROTECT Asbestos Victims Act of 2018
This bill modifies several aspects of the asbestos bankruptcy trust system. An asbestos bankruptcy trust is established when a company subject to asbestos-related liability files for bankruptcy under chapter 11 (reorganization).
Among other things, the bill does the following: