FAIRNESS FOR VICTIMS OF ASBESTOSIS

Motion Text

That this House recognises that the legal company which handled the administration of Federal Mogul is claiming £70 million in fees; notes that this is £1 million more than the fund set up to compensate workers and families who contracted asbestosis in its UK factories; recalls that these workers and their families finally agreed a compensation deal earlier this year; further notes that these victims accepted an offer of 20 pence in the pound, meaning they will get just one fifth of the original value of their claim; calls on the Lord Chancellor to consider whether it is time to put a cap on administration's financial claims; and further notes the contrast with the victims' solicitors, Thompsons, who acted as unpaid volunteers on the creditors' committee.