Senate panel backs asbestos fund bill

Senate panel backs asbestos fund bill

[JURIST] The US Senate Judiciary Committee [official website] Thursday approved a $140 billion asbestos compensation fund [JURIST report] in a 13-5 vote. The controversial fund [anti-bill advocacy website] is to be paid for by companies facing asbestos litigation and their insurers in an effort to end asbestos injury lawsuits and victims will now appeal to the fund rather than sue in court. The bill now goes to the full Senate. Reuters has more.