Introduced by Rep. Joseph Haveman R-Holland on April 28, 2011
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. Official Text and Analysis.
Referred to the House Judiciary Committee on April 28, 2011
Reported in the House on December 1, 2011
With the recommendation that the amendment be adopted and that the bill then pass.
Amendment offered in the House on February 15, 2012
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 in the House on February 15, 2012
Amendment offered by Rep. Mark Meadows D-East Lansing on February 15, 2012
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 in the House on February 15, 2012
Amendment offered by Rep. Mark Meadows D-East Lansing on February 15, 2012
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 in the House on February 15, 2012
Amendment offered by Rep. Mark Meadows D-East Lansing on February 15, 2012
To allow higher interest on damages.
The amendment failed by voice vote in the House on February 15, 2012
Amendment offered by Rep. Mark Meadows D-East Lansing on February 15, 2012
To only apply the bill's liability cap to damage claims filed after the bill becomes law.
The amendment failed by voice vote in the House on February 15, 2012
Amendment offered by Rep. Mark Meadows D-East Lansing on February 15, 2012
To only allow the liability cap on lawsuits filed after the bill becomes law.
The amendment failed by voice vote in the House on February 15, 2012
Amendment offered by Rep. Mark Meadows D-East Lansing on February 15, 2012
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 in the House on February 15, 2012
Amendment offered by Sen. Rebekah Warren D-Ann Arbor on March 29, 2012
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".