PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in Senate · Feb 4, 2015
Furthering Asbestos Claim Transparency Act of 2015 or FACT Act
Amends federal bankruptcy law concerning a trust formed under a reorganization plan following the discharge in bankruptcy of a debtor corporation in order to assume the debtor's liability with respect to claims seeking recovery for personal injury, wrongful death, or property damage allegedly caused by the presence of, or exposure to, asbestos or asbestos-containing products.
Requires such a trust to file with the bankruptcy court quarterly reports, available on the public docket, which describe each demand the trust has received from a claimant and the basis for any payment made to that claimant (excluding any confidential medical record or the claimant's full Social Security number).
Requires such reports, upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by it, to provide any information related to payment from, and demands for payment from, the trust to any party to any action in law or equity concerning liability for asbestos exposure.
People & committees
Sen. Flake, Jeff [R-AZ] · R–AZ
Legislative record
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Committee on the Judiciary. Hearings held.
Read twice and referred to the Committee on the Judiciary.
Introduced in Senate
Primary sources
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Source last updated: Aug 10, 2026. Consult Congress.gov for the current record.
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