Asbestos Liability Reform- Successor Liability: H.B. 4 (2003)
Provided that if a company with liability for mining or
Provided that if a company with liability for mining or sale of asbestos-containing products was merged or acquired by a successor prior to May 13, 1968, the limit of the successor company’s liability for asbestos claims as a result ofthe acquisition is limited to the FMV of the acquired company at the time of acquisition. The limitation applies to “successors of successors,” based on the FMV of the initially acquired company at the time of the initial acquisition.
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