Asbestos payments are safe, says Iemma
Procedural matters for the trial of 10 James Hardie directors have been finalised, while asbestos campaigners have been assured their compensation payments from the giant manufacturing group will be safe if it moves its HQ from the Netherlands to the US.
NSW Premier Morris Iemma says the compensation agreements include a provision to manage issues such as a change of country or parent company.
The trial of 10 James Hardie directors and managers will begin in the NSW Supreme Court in late September, with the prosecution expected to call 55 witnesses. The defence case isn’t expected to start until January.
Former directors Meredith Hellicar, Michael Brown, Michael Gillfillan, Peter Willcox, Martin Koffel, Greg Terry and Dan O’Brien have denied charges that they failed to exercise sufficient care and diligence over the establishment of a trust fund which separated off the group’s asbestos liabilities.
Former managers Peter Macdonald, Peter Shafron and Phillip Morley are being charged over statements which said $293 million put into the fund would be sufficient to compensate future victims of asbestos-related diseases.