§ 29-34-706. Prima Facie Showing — Discovery — Consolidation of Actions for Trial
Evidence relating to the prima facie showings required under this part shall not create any presumption that the exposed person has an asbestos-related injury or impairment and shall not be conclusive as to the liability of any defendant. No evidence shall be offered at trial regarding, and the jury shall not be informed of: The […]
§ 29-34-707. Limitations Period
With respect to an asbestos action not barred by limitations as of July 1, 2016, an exposed person’s cause of action shall not accrue, nor shall the running of limitations commence, prior to the earlier of the date: The exposed person received a medical diagnosis of an asbestos-related impairment; The exposed person discovered facts that […]
§ 29-34-601. Short Title
This part shall be known and may be cited as the “Asbestos Bankruptcy Trust Claims Transparency Act”.
§ 29-34-602. Part Definitions
As used in this part: “Asbestos” means chrysotile, amosite, crocidolite, tremolite asbestos, anthophyllite asbestos, actinolite asbestos, asbestiform winchite, asbestiform richterite, asbestiform amphibole minerals, and any of these minerals that have been chemically treated or altered, including all minerals defined as asbestos in 29 CFR 1910 at the time the asbestos action is filed; “Asbestos action” […]
§ 29-34-603. Required Disclosures by Plaintiff
For each asbestos action filed in this state, the plaintiff shall provide all parties with a sworn statement identifying all asbestos trust claims that have been filed by the plaintiff or by anyone on the plaintiff’s behalf, including claims with respect to asbestos-related conditions other than those that are the basis for the asbestos action […]
§ 29-34-604. Discovery
Trust claims materials and trust governance documents are presumed to be relevant and authentic and are admissible in evidence. No claims of privilege apply to any trust claims materials or trust governance documents. A defendant in an asbestos action may seek discovery from an asbestos trust. The plaintiff may not claim privilege or confidentiality to […]
§ 29-34-605. Stay of Action
A court shall stay an asbestos action if the court finds that the plaintiff has failed to make the disclosures required under § 29-34-603 within one hundred twenty (120) days prior to the trial date. If, in the disclosures required by § 29-34-603, a plaintiff identifies a potential asbestos trust claim, the judge shall have […]
§ 29-34-606. Identification of Additional or Alternative Asbestos Trusts by Defendant
Not less than ninety (90) days before trial, if a defendant identifies an asbestos trust claim not previously identified by the plaintiff that the defendant reasonably believes the plaintiff can file, the defendant shall meet and confer with the plaintiff to discuss why the defendant believes the plaintiff has an additional asbestos trust claim, and […]
§ 29-34-504. Limitations on Cumulative Successor Asbestos-Related Liabilities
Except as otherwise provided in subsection (b), the cumulative successor asbestos-related liabilities of a successor corporation are limited to the fair market value of the total gross assets of the transferor determined as of the time of the merger or consolidation. The successor corporation does not have responsibility for successor asbestos-related liabilities in excess of […]
§ 29-34-505. Establishment of Fair Market Value
A successor corporation may establish the fair market value of total gross assets for the purpose of the limitations under § 29-34-504 through generally accepted accounting principles, including: By reference to the going concern value of the assets or to the purchase price attributable to or paid for the assets in an arms-length transaction; or […]