Asbestos Trust Fund

The Asbestos Trust Fund is a proposal by the Federal Government of the United States to try to control the economic impact of long-term asbestos exposure. More than 70 companies, including USG Corp and W.R. Grace and Co. have  been forced into bankruptcy due to asbestos lawsuits. In Feb, 2006, the US Senate rejected a proposal that would keep al asbestos claims in the courts... The asbestos lawsuit issue, however, is still in flux. Today, if you suffer from a set of well-defined symptoms and adhere to strict legal procedures, you can still file an asbestos lawsuit in court--you should consult with an asbestos attorney to understand your personal legal options.

The proposed Asbestos Trust Fund would create a $140B privately funded trust which would be administered by the Department of Labor. As part of the law that would create the Asbestos Trust Fund, all asbestos claims would be dealt with outside the court by the Department of Labor. Proponents claim that this will free the court of frivolous lawsuits and add some sanity to the currently overwhelming set of legal claims. Opponents fear that this is corporate protection at the expense of injured workers.