Hardie flayed over asbestos fund
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Australian building products company James Hardie Industries NV broke the Corporations Law in February 2001 when it announced its fund to compensate asbestos disease sufferers was &quot;fully funded,&quot; a special inquiry has found.
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Embattled building products firm James Hardie Industries NV yesterday signed a landmark compensation deal for thousands of Australians battling asbestos-related disease after exposure to its products.
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A fund set up by James Hardie Industries NV to compensate asbestos victims will apply for a liquidator to be appointed, setting a one-week deadline for the company to top up the fund or face the threat of legal action.
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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 would face possible litigation if it did not ensure asbestos victims were adequately compensated, the ACTU said today.
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BOYCOTTS of James Hardie building products over the company&#39;s handling of asbestos liabilities were beginning to hurt sales in Australia, the company said today.
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JAMES Hardie chief executive Peter Macdonald will stand aside from his position in the wake of the findings of a special inquiry into the embattled building products company&#39;s asbestos liabilities.
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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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SYDNEY - James Hardie Industries struck a deal to pay $1.1 billion to compensate asbestos-related disease sufferers on Tuesday, boosting the firm&#39;s stock as much as 8 percent as a 14-month row over funding neared its end.
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Union delegates, asbestos victims and workers are marching from Melbourne&#39;s Trades Hall to the Stock Exchange, calling on James Hardie to provide sufficient funds for asbestos victims.
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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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Shares in James Hardie Industries have fallen sharply after the embattled building products group posted a 17 percent fall in net profit blamed on the costs of an inquiry into its handling of compensation claims by asbestos victims.
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ASBESTOS-RELATED boycotts of James Hardie products have forced the controversial building products maker to slash its profit forecast.
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PETER CAVE: The disgraced building products firm James Hardie has revealed softer first half profits as a result of costs related to an inquiry into its asbestos compensation fund.
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The Government is accused of failing to deliver on a pledge to fund a unit reinvestigating Troubles murders.
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Two top executives at building products group James Hardie Industries NV have resigned in the wake of a scandal about the company&#39;s treatment of thousands of people poisoned by asbestos that it made.
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Sydney - The head of James Hardie Industries has resigned with a payout of $6.5 million (R40.8 million) in the aftermath of a scandal over the building products group&#39;s efforts to dodge its liabilities to asbestos victims.