RESOLVING THE ASBESTOS LITIGATION DISPUTE BY INTERRELATING THE PRINCIPLES OF TAXATION, BANKRUPTCY, TORTS AND INSURANCE.

Following a background discussion on asbestos and asbestos related diseases, the role of the judiciary is examined from both a legal and financial perspective to explain why the court system may not be the most appropriate forum to resolve the dispute. Next, a foundation is laid for responsibility by examining the duties of the corporate structure, labor unions, and the federal government. Thereafter, a 'Victims' Trust' is established, funded by sources created from various schemes. The integrated network of proposals to fund the trust include: the use of a 'spin-off' bankruptcy reorganization and a recapitalization of the remaining corporation; an added-value tax; insurance carrier contributions; and governmental funding. The final point examined is the method of payment to victims and their attorneys. Refs.