Fairness in Asbestos Injury Resolution Act O F 2003 (S. 1125, 108th Congress).

Download or read book Fairness in Asbestos Injury Resolution Act O F 2003 (S. 1125, 108th Congress). written by and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report summarizes salient features of S. 1125, 108th Congress, the Fairness in Asbestos Resolution Act of 2003 (or FAIR Act of 2003), as reported by the Committee on the Judiciary on July 30, 2003 (S.Rept. 108-118). S. 1125 would create the Office of Special Asbestos Masters, within the United States Court of Federal Claims, to award damages to asbestos claimants on a no-fault basis. Damages would be paid by the Asbestos Injury Claims Resolution Fund, which would be funded by companies that have previously made payments related to asbestos claims filed against them, and by insurers of such companies. Asbestos claims could no longer be filed or pursued under state law, except for the enforcement of judgments no longer subject to any appeal or judicial review before the date of enactment of the bill. For background information on the history of asbestos litigation and on proposals besides S. 1125 to address the situation, see CRS Report RS21398, Asbestos Litigation: Prospects for Legislative Resolution, by Edward Rappaport.