Libby Amendment Added To Asbestos Bill

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Libby Amendment Added To Asbestos Bill

June 9th, 2005

Victims of asbestos exposure resulting from the WR Grace mines in Libby have seen some success at last with their battle for compensation rights. The author of the latest asbestos trust fund bill, Senator Arlen Specter, has made an amendment to his Fairness in Asbestos Injury Resolution Act, which guarantees a solution for Libby residents affected by exposure to asbestos from the now-closed WR Grace vermiculite mines.

The bill, which has been called the FAIR Act, was submitted to committee and the amendment has been approved. The trust fund will consist of $140 billion funding for the payment of compensation to asbestos victims, with funding provided by asbestos companies, insurance companies, and the government. This is aimed at eliminating the court based system for asbestos litigation.

With regards to the bill amendment, an attorney that has been representing many Libby victims stated: "This is a very positive development." With regards to the bill being passed he added: "Now we just need to keep our fingers crossed."

In the original version of the bill, it is thought that around ninety percent of Libby asbestos victims would have missed out on compensation for their injuries. However, this amendment will mean that these victims can now get compensation for their expenses, pain, suffering, and losses.

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