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Senate Permits Debate on Fund for Asbestos Victims (Update1) Feb.
7 (Bloomberg) - A proposed $140 billion fund to help
asbestos-exposure victims and end lawsuits that have bankrupted
almost 80 companies cleared its first procedural hurdle in the
U.S.
Senate.
Senators voted overwhelmingly to permit debate on the
measure, defeating an attempt by Democratic leader Harry Reid of
Nevada to block the legislation.
Reid's move to prevent debate
proved futile, and he ended up voting against his own motion when
it became obvious he would lose.
With the roll call still in
progress, there were more than the 60 votes required to permit
debate on the measure.
There are still other obstacles to the measure, which would
end litigation that has forced companies such as USG Corp., the
world's largest wallboard maker, into bankruptcy.
For example,
S...
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