Thursday, October 21, 2004

NSW clears way for James Hardie probe

The Federal Government's corporate watchdog will have more power to investigate James Hardie from today, under new New South Wales laws.

The legislation was passed by both houses of NSW Parliament yesterday and Governor Marie Bashir is expected to give it her assent today.

The legislation will allow the Australian Securities and Investments Commission (ASIC) unrestricted access to all Jackson inquiry records and allow it to share information with its international counterparts.

Premier Bob Carr says the new laws will make it easier for ASIC to prosecute James Hardie and for victims to obtain compensation from the company.

By In Solidarity 21 October 04


Unions dismayed with Hardie's attitude
Australia's peak union body, the ACTU, has expressed concerns that building products company James Hardie is not serious about negotiating compensation for future victims of its asbestos products.

James Hardie boss could face fraud charges
The counsel assisting the inquiry into James Hardie asbestos compensation claims has recommended the company's chief executive officer, Peter Macdonald, be charged with fraud.

Aust seeks Dutch treaty to protect asbestos victims
The Federal Government says it has approached the Dutch Government to sign a treaty making Australian court judgments enforceable in The Netherlands.

James Hardie inquiry told law reforms needed
A massive shortfall in funds to compensate asbestos victims has led to a call for retrospective law? reform to stop parent companies avoiding their liabilities.