Selecting an attorney for legal cases is a very important decision. Please enter your information below to receive a Free Consultation from an attorney in your area:
Trial News
DeMint Opposes Budget-Busting Asbestos Trust Fund
Today, U.S. Senator Jim DeMint voted to sustain a budget point of order against S. 852, the Fairness in Asbestos Injury Resolution or “FAIR Act.” The legislation would establish a $140 billion trust fund financed by defendant companies and their insurers. The motion to overcome the budget point of order, which required 60 votes, was defeated on a 41 to 58 vote.
“This bill fails to solve the real problem which is our out of control junk lawsuit system, and simply trades one flawed system for another,” said Senator DeMint. “We have a serious problem with asbestos litigation that has already forced seventy American companies into bankruptcy and cost over sixty thousand Americans their jobs. But creating a multi-billion dollar government entitlement program that punishes taxpayers and rewards trial lawyers is not the answer.”
The cost of the FAIR Act trust fund will likely far exceed the $140 billion provided and quickly become insolvent. The Congressional Budget Office (CBO) estimated that “there is a significant likelihood that the fund’s revenues would fall short of the amount needed to pay valid claims, debt service, and administrative costs.” In addition, a recent study by the Bates White economic consulting firm estimated the fund’s total liabilities would range from $300 billion to $695 billion – and go bankrupt within three years.
The FAIR Act would also place an unfairly large burden on smaller and medium sized companies. In some cases, these companies would be forced to pay in more to the fund than their annual earnings. Rather than stopping asbestos-related bankruptcies, the legislation would actually encourage them.
Victims of asbestos exposure also question the bill, citing concerns that real victims will not receive the compensation they deserve. They believe the FAIR Act will take away the legal rights of victims by removing their claims from the court system, forcing them to apply to the trust fund for compensation. Read more at demint.senate.gov.
Definition:
A court order issued for a defendant's arrest if he or she fails to appear for a court preceding other than an arraignment.
Civil Action
Definition:
A case brought for determination enforcement or protection of a right, or redress; or prevention of a wrong; every action other than a criminal action.
Venue
Definition:
"Venue" designates the particular county or city within which a court with jurisdiction may hear and determine the case
If you live in the following cities and need an Trial-Lawyer attorney you should contact
our Trial-Lawyer Attorney as soon as possible:
Astoria
Auburn
Bay Shore
Brentwood
Bronx
Brooklyn
Buffalo
Corona
Elmhurst
Elmont
Endicott
Fairport
Far Rockaway
Flushing
Forest Hills
Freeport
Hamburg
Hempstead
Huntington
Huntington Station
Ithaca
Jackson Heights
Jamaica
Jamestown
Levittown
Lindenhurst
Lockport
Long Beach
Massapequa
Middletown
New York
Newburgh
North Tonawanda
Patchogue
Poughkeepsie
Rego Park
Ridgewood
Rochester
Rome
South Ozone Park
South Richmond Hill
Spring Valley
Staten Island
Tonawanda
Troy
Webster
West Babylon
Westbury
Whitestone
Woodside
Yonkers
Legal Disclaimers All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Trial Attorney Buffalo.com is not intended to be legal advice, but merely conveys
general information related to legal issues commonly encountered. Your access
to and use of this website is subject to additional Terms
and Conditions.
Local Professional? Generate new business today
Call 866-227-9356 or contact a sales rep
Did You Know?