Summary: S.2564 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for S.2564. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/15/2018)

Providing Responsible Oversight of Trusts to Ensure Compensation and Transparency for Asbestos Victims Act of 2018 or the PROTECT Asbestos Victims Act of 2018

This bill modifies several aspects of the asbestos bankruptcy trust system. An asbestos bankruptcy trust is established when a company subject to asbestos-related liability files for bankruptcy under chapter 11 (reorganization).

Among other things, the bill does the following:

  • provides statutory authority for the U.S. Trustee Program within the Department of Justice to investigate the administration and operation of asbestos bankruptcy trusts; and
  • creates new criminal offenses for making a false representation to, or a false claim for payment by, an asbestos bankruptcy trust.