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Federal Laws Addressing LiabilityReturn to federal reforms The Bankruptcy Reform Act of 1994
The Bankruptcy Reform Act of 1994, Pub. L. No. 103-394, § 111(a) (codified at 111 U.S.C. §§ 524(g), (h)), responded to the asbestos litigation crisis by enabling a debtor in a Chapter 11 reorganization in certain circumstances to establish a trust toward which the debtor may channel future asbestos-related liability.
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