Multidistrict, Multiparty, Multiforum Trial Jurisdiction Act of 2001

Multidistrict, Multiparty, Multiforum Trial Jurisdiction Act of 2001 - Amends the Federal judicial code to allow a civil action transferred for coordinated or consolidated pretrial proceedings (multidistrict litigation) to be transferred to the transferee or other district for trial purposes in the interest of justice and for the convenience of the parties and witnesses. Directs that any such action transferred for trial purposes be remanded to the district court from which it was transferred for the determination of compensatory damages unless the court determines the same justification applies to retaining the action for damages determination.

Grants Federal district courts original jurisdiction over civil actions arising out of a single accident that results in the death or injury of 25 or more natural persons, provided the injury has resulted in damages which exceed $150,000 per person and minimal diversity of citizenship exists, subject to specified requirements. Authorizes venue for such action in any district in which a defendant resides or in which a substantial part of the accident occurred. Permits a district court to retain such actions for the determination of liability and punitive damages.

Permits removal of actions which could have been brought in district court under the above provisions from State to U.S. district courts. Establishes a presumption in favor of discretionary remand to State courts for damages determinations after rulings on liability.

Authorizes nationwide service of process and, upon a showing of good cause, nationwide service of subpoenas with regard to actions under this Act.