Asbestos hopes

Distressed debt funds are taking a closer look at asbestos-hit firms after US senator Orrin Hatch proposed the formation of a national asbestos trust to pay claimants. This could give companies a way to survive the growing asbestos injury claims.

Total claims to date stand at $54 billion, with $145 billion to $210 billion in future liabilities according to the Asbestos Alliance, a private sector lobby group. The news, however, will benefit US credits such as Combustion Engineering (an

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