STORY:
Senate Rejects Y2K Liability Limits

A White House backed plan to limit lawsuits stemming from the Y2K computer bug was rejected by the U.S. Senate. The Republicans argued that high tech companies were left with very little protection from crippling lawsuits.

The defeat sets the stage for a vote on another Y2K liability bill from Commerce Committee Chairman John McCain. Observers says McCain's bill is more pro business and the White House has threatened to veto McCain's bill if it passes. The White House believes it would give too much protection to big business.

Both bills would give defendants up to 90 days to fix Y2K problems before a lawsuit can be filed. The bills would also make it harder to file specific class action lawsuits and bar damages for certain losses. McCain believe his bill will avert a flood of frivolous Y2K related lawsuits.

The House of Representatives passed it's own Y2K liability bill in May which the White House has threatened to veto as well.

Source: Reuters

DATE: 6/10/99

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