Governor Snyder signed the “Asbestos Bankruptcy Trust Claims Transparency Act” into law on Monday, 4/2/18, as Public Act 100 of 2018.
The Act applies to asbestos actions filed on or after 4/2/18 and applies to any pending asbestos actions in which trial has not yet been scheduled or has been scheduled to occur after 11/1/18.
“We believe this legislation makes significant progress to protect the businesses that have been peppered with nuisance asbestos lawsuits,” said Delaney McKinley, MMA senior director of government affairs and membership. “By requiring the plaintiff to disclose the full picture of their asbestos exposure, courts and juries can accurately assess responsibility for the claimants’ injuries, preventing fraud and ensuring fairness for all defendants and all claimants in the dual asbestos compensation system.”
Many thanks to the MMA members who got involved in the process of developing and passing this important legislation.
This article originally appeared in the 4/17/18 issue of MFG Voice.