New Ohio Law Expands Transparency for Asbestos Bankruptcy Trusts
The provisions of Ohio House Bill 380 are very limited in scope – they are specifically designed to ensure transparency and openness between the asbestos bankruptcy trust claims and tort litigation processes. The legislation accomplishes two primary goals: (1) it requires claimants to disclose all existing bankruptcy trust claims; and (2) requires claimants to pursue all legitimate trust claims. Ohio House Bill 380 preserves the rights of claimants seeking compensation for asbestos-related injuries. It does not place a cap on the amount of compensation that can be sought nor does it limit the number of asbestos bankruptcy trusts with which a claimant may file.