What This Statute Says
The asbestos liability cap in A.R.S. 12-559.1 only works if the parties can establish the fair market value of the transferor's total gross assets. This section provides the methods, including the going concern value of the predecessor or any other reasonable approach.
A. To determine the limitation pursuant to section 12-559.01, a successor corporation may establish the fair market value of total gross assets through any method reasonable under the circumstances, including either of the following:
A.R.S. § 12-559.2When This Statute Comes Into Play
This valuation framework matters when:
- Plaintiffs and defendants in an asbestos case dispute the size of the available recovery pool.
- A successor corporation needs to establish the cap for use in settlement negotiations.
- A court must determine how much remains under the cap after prior payments.
What This Means for Arizona Families
Valuation disputes can decide whether an asbestos case is worth pursuing. The going concern value of a predecessor company at the time of a decades-old merger is not always easy to establish, and the choice of method can dramatically change the available recovery.
For families pursuing asbestos claims, the valuation question usually falls to expert witnesses on both sides. The personal representative's job is to make sure the case is positioned to take advantage of whatever value remains under the cap. Our FAQ on starting probate after death in Arizona covers the early administration steps that establish standing. An Arizona probate attorney working with an asbestos specialist coordinates the wrongful death claim, the valuation expert, and the deadline tracking. Pairing this with any special needs trust structure for affected dependents ensures the recovery is preserved for those who actually need it. The valuation methods in this section give plaintiffs real tools to maximize the available pool.