The West Virginia state legislature is currently in session and is considering a bill that would require disclosures related to bankruptcy trust recoveries sought by plaintiffs who are currently litigating an asbestos-related lawsuit. West Virginia Senate Bill No. 87 was introduced on February 11, 2009 and referred to the Committee on the Judiciary.
If asbestos plaintiffs meet the filing criteria, plaintiffs are entitled to request monetary recoveries from certain trusts established by companies who were previously involved in asbestos litigation. The West Virginia bill, which is entitled the "Asbestos Claims Transparency Act," requires disclosure by plaintiffs related to claims made and recoveries both received and to be received from bankruptcy trust funds. By requiring disclosure, the bill is meant to "insure that liabilities properly borne by asbestos-related bankruptcy trusts are not imposed upon defendants in the tort system..." (Senate Bill No. 87 (W.Va. Code Second. 55-7E-2(5).). Under the proposed bill, plaintiffs would be required to produce documents related to the claims they made to bankruptcy trusts, including affidavits, medical reports, deposition transcripts and other documents supporting the claim.
The proposed legislation would require the plaintiffs to provide more information than they currently provide in West Virginia asbestos litigation and it will assist parties in quantifying amounts received and to be received from the trusts.
James J.A. Mulhall, Esq.
Steptoe & Johnson PLLC
P.O. Box 2190
Clarksburg, West Virginia 26302
(304)624-8164
(304)624-8183 Fax
james.mulhall@steptoe-johnson.com
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