108 STAT. 4114
PUBLIC LAW 103-394—OCT. 22, 1994
"(B) The requirements of this subparagraph are that—
"(i) the injunction is to be implemented in connection with
a trust that, pursuant to the plan of reorganization—
"(I) is to assume the liabilities of a debtor which at
the time of entry of the order for relief has been named
as a defendant in personal injury, wrongful death, or property-damage actions seeking recovery for damages allegedly
caused by the presence of, or exposure to, asbestos or
asbestos-containing products;
"(II) is to be funded in whole or in part by the securities
of 1 or more debtors involved in such plan and by the
obligation of such debtor or debtors to make future pay-
ments, including dividends;
"(III) is to own, or by the exercise of rights granted
under such plan would be entitled to own if specified contingencies occur, a majority of the voting shares of—
"(aa) each such debtor;
"(bb) the parent corporation of each such debtor;
or
"(cc) a subsidiary of each such debtor that is also
a debtor; and
"(IV) is to use its assets or income to pay claims and
demands; and
"(ii) subject to subsection (h), the court determines that—
"(I) the debtor is likely to be subject to substantial
future demands for payment arising out of the same or
similar conduct or events that gave rise to the claims
that are addressed by the injunction;
"(II) the actual amounts, numbers, and timing of such
future demands cannot be determined;
"(III) pursuit of such demands outside the procedures
prescribed by such plan is likely to threaten the plan's
purpose to deal equitably with claims and future demands;
"(IV) as part of the process of seeking confirmation
of such plan—
"(aa) the terms of the injunction proposed to be
issued under paragraph (1)(A), including any provisions barring actions against third parties pursuant
to paragraph (4)(A), are set out in such plan and in
any disclosure statement supporting the plan; and
"(bb) a separate class or classes of the claimants
whose claims are to be addressed by a trust described
in clause (i) is established and votes, by at least 75
percent of those voting, in favor of the plan; and
"(V) subject to subsection (h), pursuant to court orders
or otherwise, the trust will operate through mechanisms
such as structured, periodic, or supplemental payments,
pro rata distributions, matrices, or periodic review of estimates of the numbers and values of present claims and
future demands, or other comparable mechanisms, that
provide reasonable assurance that the trust will value,
and be in a financial position to pay, present claims and
future demands that involve similar claims in substantially
the same manner.
"(3)(A) If the requirements of paragraph (2)(B) are met and
the order confirming the plan of reorganization was issued or
affirmed by the district court that has jurisdiction over the reorga-
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