Resolution of the James Hardie Industries asbestos imbroglio is close. Company executives, union leaders and representatives of asbestos victims began talks on Friday to discuss how the company will fund its outstanding and future liabilities.

Speaking on Channel Nine’s Business Sunday program, ACTU Secretary Greg Combet said he expects a solution within weeks to making up the funding shortfall.

Mr Combet said the position of former James Hardie CEO Peter Macdonald, who has been stripped of his title but remains on salary at the company, is untenable. “I made it clear to the company at the outset,” he said.