Request Legal Help Now - Free

LAWSUITS NEWS & LEGAL INFORMATION

James Hardie Industries

This is a settlement for the Asbestos Mesothelioma lawsuit.

Australia: (Feb-09-07) James Hardie Industries' Asbestos Injuries Compensation Fund began with an initial $184 million down payment, laying the path for making first payments to victims. James Hardie has agreed to fund the settlement package with $1.5 billion from 35% of its free cash flow each year, though insiders predict that payments would blow out to $4 billion for up to 10,000 people once all compensation was paid under the record deal. James Hardie, whose shareholders approved the package in the Netherlands, confirmed that its new fund would take control of compensation payouts, with decisions made by a board comprising three company-appointed directors and two others nominated by the NSW Government. After a six-year battle to pressure James Hardie into accepting responsibility for a guaranteed compensation fund, campaigners and victims expressed relief that a settlement had been reached.


Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in our form.
Published on Feb-16-07


ADD YOUR COMMENT ON THIS ISSUE

Fields marked * are mandatory. Please read our comment guidelines before posting.

*Name:

Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.

Request Legal Help Now! - Free