Title: Furthering Asbestos Claim Transparency (FACT) Act of 2013
Vote Smart's Synopsis:
Vote to pass a bill that requires bankruptcy trusts to file certain reports regarding payments made to asbestos-related claims with the bankruptcy court, effective immediately.
Requires a bankruptcy trust to file public quarterly reports with the bankruptcy court that contain the following information about each asbestos-related claim (Sec. 2):
The claims for compensation received by the trust;
The names and exposure histories of each claimant; and
The basis for any payment made to a claimant.
Prohibits an asbestos-related report made to the bankruptcy court from including any confidential medical records or full social security numbers (Sec. 2).
Requires a bankruptcy trust, upon written request, to provide any party in a legal action regarding liability for asbestos exposure with any information related to payment or demands for payment from the trust (Sec. 2).