PROTECT Asbestos Victims Act of 2021
- Last Action
- 3/3/2021
Actions
- 2021-03-03Read twice and referred to the Committee on the Judiciary.
- 2021-03-03Introduced in Senate
CRS Summary
As of 2021-03-03 (00)
Providing Responsible Oversight of Trusts to Ensure Compensation and Transparency for Asbestos Victims Act of 2021 or the PROTECT Asbestos Victims Act of 2021
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.
The bill allows the U.S. Trustee Program within the Department of Justice to investigate the administration and operation of asbestos bankruptcy trusts. Additionally, it creates new criminal offenses for making a false representation to, or a false claim for payment by, an asbestos bankruptcy trust.
Finally, an administrator of an asbestos bankruptcy trusts must report any Medicare benefits entitled to a claimant to the Centers for Medicare & Medicaid Services.
Cosponsors (2)
- Charles Grassley (R-IA)
- John Cornyn (R-TX)
Subjects
- Alabama
- Bankruptcy
- Civil actions and liability
- Fraud offenses and financial crimes
- Government studies and investigations
- Hazardous wastes and toxic substances
- North Carolina
- Product safety and quality
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.