Introduced
by
To limit the liability of a company that had acquired another company that may have produced or sold asbestos in the past to the asset value of the acquired company. In other words, the new owner could not be sued for damages that exceed the value of the assets of the acquired firm that actually brought about the liability.
Referred to the Committee on Judiciary
Reported without amendment
With the recommendation that the substitute (S-3) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Amendment offered
by
To only grant the asbestos liability limit if the acquiring firm performed a "reasonably dilligent" inquiry into the potential liabilities before acquiring the firm that committed the tort.
Consideration postponed
Amendment offered
The amendment failed 18 to 18 (details)
Passed in the Senate 21 to 15 (details)
Referred to the Committee on Judiciary
