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Elihu Inselbuch Testifies Before Senate Judiciary Committee on Transparency of Asbestos Trusts

February 3, 2016
On February 3, 2016 Caplin & Drysdale's Elihu Inselbuch testified at a U.S. Senate Judiciary Committee hearing concerning transparency in asbestos trusts.  In his written testimony regarding the "Furthering Asbestos Claim Transparency Act of 2015" (the "FACT Act"), Mr. Inselbuch stated that "These legislative proposals were never designed—nor intended—to address any purported fraud in the trust system. Indeed, there is no evidence of any such problem. The real purpose of these laws is to allow asbestos defendants to take advantage of the bankruptcies of their co-wrongdoers by shifting to victims the burdens of the shortfalls caused by the bankruptcies, as well as the burdens of discovery and proof of the bankrupt wrongdoers' responsibility."  To read Mr. Inselbuch's full written testimony, click here.

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