U.S. Senator Lindsey Graham (R-SC) could soon get his chance to vote on legislation the South Carolina Civil Justice Coalition (SCCJC) says would help "discourage fraud" in asbestos litigation.
According to the U.S. House Judiciary Committee, the FACT Act would reduce "fraud in the asbestos bankruptcy trust system through increased transparency measures. These measures ensure that asbestos bankruptcy trusts have the tools to combat fraud, which limits funds available for asbestos victims."
"The Furthering Asbestos Claim Transparency (FACT) Act is simple, common-sense transparency legislation that would require asbestos trust funds to disclose information on their claims," wrote SCCJC Executive Director Earl Hunter in a 2015 letter to U.S. Congressman Trey Gowdy (R-SC). "Openness and transparency will help fix a broken system, discourage fraud, and ensure that funds meant to benefit legitimate future asbestos victims are not used to pay today’s fraudulent and abusive claims."
If the full House, as expected, passes the bill this week, the legislation then heads to the U.S. Senate, where it will be considered by the Senate Judiciary Committee. At that stage, U.S. Senator Lindsey Graham (R-SC) could play a deciding role in the future of the bill.
Asked in November 2015 whether he has settled on a public position on the bill, Graham's office told Palmetto Business Daily he "continues to review this legislation."
In December 2015, the SCCJC's Hunter told Palmetto Business Daily his organization "is hopeful that Sen. Graham will support the business community and trust transparency.”