James Hardie Could Be Forced To Pay Compensation -- MesoLink.org -- 11-15-04

Laws to force James Hardie, an Australian manufacturing giant, to pay compensation to injured parties are being welcomed by the commonwealth and the Federal Opposition. A plan has been put forward to force the payment of compensation by the company, which has made claims for many months that there is not enough money left in the pot to make the compensation payment required.

The idea focuses around “unwinding” a restructure from when the company relocated to the Netherlands, which would then mean that claimants could get their compensation paid through the parent company of James Hardie. This should ensure that victims that are entitled to this money do not get left out in the cold.

Penny Wong, Labor's spokeswoman on corporate governance, stated: We hope that it's not going to be necessary, we hope that James Hardie will see the error of its ways and will ensure that the foundation is properly funded so as to compensate people."

James Hardie has made the news time and time again over recent months. The company has a vast number of outstanding compensation claims and has repeatedly made claims that either the money cannot be repaid or that company officials are looking into ways to raise the cash necessary. The products shipped by the company in previous years – some of which was found to be improperly labeled with warnings – resulted in many users contracting the fatal cancer mesothelioma, along with other asbestos related illnesses.