UPDATE 1-Sen. Specter proposes $140 bln U.S. asbestos fund

Newswire

(Adds details, background) WASHINGTON, Jan 19 (Reuters) - Senate Judiciary Committee Chairman Arlen Specter said on Wednesday he was proposing a $140 billion trust fund to compensate asbestos victims while ending their right to sue for damages. Specter told members of the Judiciary Committee he would introduce his proposed bill next week. "That figure will be set at $140 billion," he said of the overall amount for the fund, which would be financed by industry and insurers. In previous ...

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