Introduced
by
To limit the liability of a company that had acquired another company which may have produced or sold asbestos in the past. The bill would prohibit a court from imposing asbestos damage judgments that exceed the value of the acquired company. Under current law a court can order damages up to the value of the entire enterprise, even if the acquired subsidiary represents only a small part of the overall firm's value.
Referred to the Committee on Judiciary
Reported without amendment
With the recommendation that the amendment be adopted and that the bill then pass.
Amendment offered
To allow higher damage judgments if the new company (the combination of the acquiring firm and one it bought) is still in the asbestos business.
The amendment passed by voice vote
Amendment offered
by
To still allow higher damage judgments if the merger with the former asbestos producing firm happened any time from 1968 on. The bill's liability limits only apply if the merger happened before 1972.
The amendment failed by voice vote
Amendment offered
by
To only allow the lower liability if the acquiring firm did not know about the potential asbestos claim after making a diligent inquiry at the time of the merger.
The amendment failed by voice vote
Amendment offered
by
To allow higher interest on damages.
The amendment failed by voice vote
Amendment offered
by
To only apply the bill's liability cap to damage claims filed after the bill becomes law.
The amendment failed by voice vote
Amendment offered
by
To only allow the liability cap on lawsuits filed after the bill becomes law.
The amendment failed by voice vote
Amendment offered
by
To make asbestos lawsuit defendants "jointly and severally" liable for damages, which means a plaintiff can force a company with "deep pockets" to pay the full amount even if it was only a little bit responsible compared to other defendants.
The amendment failed by voice vote
Passed in the House 62 to 46 (details)
Referred to the Committee on Judiciary
Referred to the Committee on Reforms, Restructuring, and Reinventing
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Amendment offered
by
To establish that the proposed liability limits do not apply if the firm employs fewer than 1,000 people in Michigan.
The amendment failed 13 to 25 (details)
Amendment offered
by
To not include any liability of the company to repay government Medicare or Medicaid for medical assistance.
The amendment failed 13 to 25 (details)
Amendment offered
by
To clarify that a exception to the proposed liability for a firm that remained in the asbestos business after a merger also applies if the was part of an "acquisition".
The amendment failed 13 to 25 (details)
Passed in the Senate 25 to 13 (details)
To limit the liability of a company that had acquired another company which may have produced or sold asbestos in the past. The bill would prohibit a court from imposing asbestos damage judgments that exceed the value of the acquired company. Under current law a court can order damages up to the value of the entire enterprise, even if the acquired subsidiary represents only a small part of the overall firm's value.
