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Dr. Charles Bates to speak on asbestos litigation
reform legislation
WASHINGTON, D.C., February 6, 2006—Dr. Charles Bates, President
and Senior Partner of Bates White, who presented testimony in
November 2005 before the Senate Committee on the Judiciary regarding
the projections of future asbestos claims and the viability of
a proposed asbestos compensation fund, will participate in Mealey’s
Asbestos Legislation Teleconference on Tuesday, February 7 to
discuss the current status of the proposed legislation.
Dr. Bates will show that there is a substantial financial shortfall
with the proposed legislation and will quantify the magnitude
of this shortfall. Specifically, the financial shortfall results
primarily from: (1) entitlements created for many individuals
with lung and other cancers who were not compensated in the historical
tort environment; and (2) dormant claimants who would be able
to recoup additional recoveries because they have settled with
most, but not all defendants. This shortfall means the Fund would
be bankrupted and forced to sunset two to three years after its
enactment.
The Mealey’s event, “Asbestos Legislation Teleconference:
Will Congress Solve the Asbestos Litigation Crisis?” features
five different speakers who will provide expert legal and economic
insight on the proposed $140 billion industry-financed trust fund
that would replace the current tort system as the source of compensation
for people injured by asbestos exposure. Attendees of the teleconference
will hear how the proposed federal legislation would affect asbestos
companies in litigation; the status of the FAIR Act on Capitol
Hill; is there enough money in the trust fund; and what it all
means to plaintiffs, defendants, businesses, and insurers.
Click
here to learn more about the teleconference.
About Bates White
Bates White is a national economic consulting firm of more than 150 professionals.
Established in 1999, Bates White offers consulting services in economics,
finance,
and business analytics. Bates White has offices in Washington, D.C., and San
Diego, Calif.
www.bateswhite.com
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