Minn. Gov. Nixes Bill Curbing Cos.' Asbestos Liability

Law360, New York (April 10, 2012, 8:34 PM EDT) -- Minnesota Gov. Mark Dayton vetoed an asbestos-related bill on Monday, rejecting a push to limit the liability of so-called innocent successors of companies to the assets of their predecessors when mergers occur.

Senate File 1236, or the Innocent Successor Asbestos-Related Liability Fairness Act, would have overturned existing Minnesota state law that currently protects the public from "corporate gamesmanship" and mergers and acquisitions created only to escape liability, according to Dayton, who belongs to the state's Democratic-Farmer-Labor, or DFL, party.

"I am convinced that this legislation will...
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