West Virginia § 55-7F-9 Setoff; credit

West Virginia Statutes

§ 55-7F-9 — Setoff; credit

West Virginia § 55-7F-9

Ch. 55ACTIONS, SUITS AND ARBITRATION; JUDICIAL SALE

Art. 7FASBESTOS BANKRUPTCY TRUST CLAIMS TRANSPARENCY ACT

This text of West Virginia § 55-7F-9 (Setoff; credit) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 55-7F-9 (2026).

Text

In any asbestos action in which damages are awarded, a defendant is entitled to a setoff or credit in the amount of the valuation established under the applicable trust governance documents, including payment percentages for asbestos trust claims pending at trial and any amount the plaintiff has been awarded from an asbestos trust claim that has been identified at the time of trial. If multiple defendants are found liable for damages, the court shall distribute the amount of setoff or credit proportionally between the defendants, according to the liability of each defendant.

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In any asbestos action in which damages are awarded, a defendant is entitled to a setoff or credit in the amount of the valuation established under the applicable trust governance documents, including payment percentages for asbestos trust claims pending at trial and any amount the plaintiff has been awarded from an asbestos trust claim that has been identified at the time of trial. If multiple defendants are found liable for damages, the court shall distribute the amount of setoff or credit proportionally between the defendants, according to the liability of each defendant.