PROTECT Asbestos Victims Act of 2018

Fact Sheet API

Bill Number

S 2564

Introduced

Mar 15, 2018

Latest Action

Read twice and referred to the Committee on the Judiciary.

Sponsor

Cosponsors

Topics

Alabama Bankruptcy Civil actions and liability Finance and Financial Sector Fraud offenses and financial crimes Government studies and investigations Hazardous wastes and toxic substances North Carolina Product safety and quality

Full Text

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Votes

Summary

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:

provides statutory authority for the U.S. Trustee Program within the Department of Justice to investigate the administration and operation of asbestos bankruptcy trusts; and
creates new criminal offenses for making a false representation to, or a false claim for payment by, an asbestos bankruptcy trust.

Actions

Mar 15, 2018

Read twice and referred to the Committee on the Judiciary.
Mar 15, 2018

Introduced in Senate

Amendments

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