Appealing to U.S. Rep. Ron DeSantis (R-FL) in Washington, D.C. earlier this year, the Florida Justice Reform Institute (FJRI) urged the congressman to support the Furthering Asbestos Claim Transparency (FACT) Act of 2015.
FJRI’s President William Large asked DeSantis to support FACT, or H.R. 526, when it comes to a vote in the Congress. Large stated that asbestos-related personal injury trusts (Trusts) are vulnerable to deception and may be paying fraudulent claims. H.R. 526 would require the trusts to file quarterly reports with federal bankruptcy courts, including claim details.
“FJRI works to restore faith in the judicial system and protect Floridians from the social and economic toll that is incurred from rampant litigation,” Large said, citing the current lack of accountability in the system and noting that if Trusts were required by law to divulge their activities, inconsistencies would be revealed and likely eliminated.
FJRI, a nonprofit group of civic leaders, business stakeholders and concerned citizens based in Tallahassee, Florida, strives to protect businesses from predatory trial lawyers through lobbying efforts, public relations campaigns, expert testimony and research.
“This is basic common sense,” FJRI’s Large said. “In addition, simply filing a quarterly report with the bankruptcy court is no great burden in support of preserving assets to pay the claims of legitimate claimants.”