James Hardie yet to make funding provisions

The James Hardie company has told the Australian Stock Exchange it is yet to make a provision for the funding it has promised for future victims of asbestos-related diseases.

The company has warned shareholders that the final resolution could cut dividend payments.

James Hardie says it cannot determine whether a satisfactory resolution will be achieved but it is understood negotiators for asbestos victims feel James Hardie's recent response to an ACTU proposal is a positive basis for progress.

An addendum to the Dutch financial accounts warns that James Hardie's finances may suffer from product boycotts to pressure it to settle. It says it may have to borrow and cut dividends if a voluntary payout to cover a $1.5 billion shortfall.

By Put Up Or Shut Up 2 November 04

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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.

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.

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

Related:

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.

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.

ACTU secretary Greg Combet says he has had no response to a number of documents he has put before James Hardie in a bid to work out a compensation package.

Unions started talks with the company about compensation last month.

Mr Combet says the ACTU will continue to try to negotiate over the next few weeks but may be forced to take other action.

"I'm going to keep putting my best effort in to try to get a negotiated settlement to this but if it's not forthcoming clearly the ACTU and the New South Wales Government and the victims' groups are going to be thinking about an alternative course of action," he said.

"I am concerned at the moment that James Hardie need to place a lot greater effort to resolve this issue."

By We'll Never Be Defeated 18 October 04

Related:

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.