Pennsylvania — Statute

8368.1 – Legislative Findings And Declaration | Pennsylvania Law

Pennsylvania law limits asbestos claim liabilities for successor business entities formed before 1972, protecting their economic viability from asbestos-related claims.

Legal Content

Pennsylvania State Law

8368.1 – Legislative Findings And Declaration

Pennsylvania Title 42 - Judiciary and Judicial Procedure § 8368.1

Summary

This law recognizes the economic impact of asbestos-related claims on successor business entities that never manufactured asbestos. It aims to protect these entities from unlimited liability due to asbestos claims, especially those arising from mergers or consolidations before 1972. The law limits the total recovery that asbestos claimants can obtain from such innocent successor entities.

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Explain Like I'm 5

In simple terms: Pennsylvania law limits asbestos claim liabilities for successor business entities formed before 1972, protecting their economic viability from asbestos-related claims.. This means people must follow this rule, and breaking it can lead to criminal penalties.