686A.7 Setoff — credit.
In any asbestos action in which damages are awarded and setoffs are permitted under applicable law, a defendant is entitled to a setoff or credit in the amount the plaintiff has been awarded from an asbestos trust identified in section 686A.6, subsection 1, and the amount of the valuation established under section 686A.6, subsection 2. 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.
2017 Acts, ch 11, §7
Structure Iowa Code
Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
Chapter 686A - ASBESTOS BANKRUPTCY TRUST CLAIMS
Section 686A.3 - Required disclosures by plaintiff.
Section 686A.4 - Identification of additional or alternative asbestos trusts by defendant.
Section 686A.5 - Discovery — use of materials.
Section 686A.6 - Trust record — valuation of asbestos trust claims — judicial notice.
Section 686A.7 - Setoff — credit.
Section 686A.8 - Failure to provide information — sanctions.