James Hardie Underfunded Asbestos Fund, Inquiry Says
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James Hardie Industries NV underfunded a trust to compensate asbestos victims by at least A$1.5 billion ($1.1 billion) and misled investors when it said it had set aside enough money
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SYDNEY : A compensation fund for Australian asbestos victims of embattled James Hardie Industries NV said it was filing for liquidation, rejecting a last-minute multi-million dollar cash injection.
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JAMES Hardie chief Peter Macdonald lied to dying asbestos victims, misled his company and fed untruths to the stock exchange, a six-month inquiry has found.
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A troubled asbestos-victims compensation fund will ask a court Thursday to appoint a liquidator after it rejected a bailout offer from embattled James Hardie Industries.
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The ACTU yesterday accused James Hardie of immoral and disgusting behaviour for allowing funds to compensate victims of asbestos-related diseases to run dangerously low.
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A major investigation is underway in New Caledonia to find out where asbestos, blamed for an unusually high rate of lung cancer on the French Pacific island territory, occurs in the environment.
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Australian building group James Hardie Industries misled the public when it said it had set aside enough money to meet asbestos compensation claims.
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James Hardie Industries said today it was paying former chief executive Peter Macdonald $US60,000 a month for consultancy work. James Hardie chairman Meredith Hellicar said Mr Macdonald would be paid that
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International buildings materials firm James Hardie is caught in a row over a  compensation fund for asbestos victims which faces administration.
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A vehicle created by international building products group James Hardie Industries to deal with asbestos-related litigation yesterday moved to appoint a provisional liquidator
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Meredith Hellicar, chairman, and Peter Macdonald, chief executive of James Hardie Industries NV, speak on a teleconference from Sydney about the company&#39;s responsibilities to asbestos victims.
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Australian building products group James Hardie has agreed to pay $1.1bn (Â£568m) to victims of asbestos-related diseases. The landmark deal could see thousands of people suffering from lung diseases - caused
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Asbestos victims voiced outrage Friday at a multimillion dollar golden handshake given to the chief of building products group James Hardie Industries NV, who resigned in the wake of a scandal about the company&#39;s treatment of thousands of people poisoned
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The Australian Council of Trade Unions (ACTU) has called for Prime Minister John Howard to ensure James Hardie fairly compensates asbestos victims.
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James Hardie Industries NV, Australia&#39;s fourth-biggest building materials maker, said full-year profit will miss analysts&#39; estimates because of boycotts by unions protesting the handling of asbestos compensation.
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Senate Judiciary Committee Chairman Arlen Specter said on Wednesday he was proposing a &#36;140 billion fund to compensate asbestos victims and cap the liability of companies paying them damages.
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Regulators probing the collapse of  fund manager Sentinel said an examination had revealed that  more than $500 million was missing from its accounts, the  Financial Times reported in its online edition on Wednesday.