James Hardie Industries N.V., on Sept. 23, 2009, said it has lodged an appeal against a ruling in August 2009 that found the Company and former executives had breached Australian law on the adequacy of asbestos compensation funding, Bloomberg reports.
On…
Australia Labor frontbencher Greg Combet says the Government will make sure that James Hardie Industries N.V. upholds compensation agreements it made with asbestos victims, news.com.au reports.
Mr. Combet, speaking at a book launch in Canberra, Australia, said there must never again…
The New South Wales Supreme Court, on Aug. 20, 2009, penalized former executives and directors of James Hardie Industries N.V. for breaching the Corporations Act in 2001 regarding the adequacy of asbestos compensation funding, Bloomberg reports.
Hardie was fined AUD80,000 (US$66,467)…
The Australian Securities and Investments Commission (ASIC) wants seven non-executive directors and three former executives of James Hardie Industries N.V. banned from Company directorship for at least five year each and fined a total of AUD2.8 million to AUD3.4 million,…
Justice Margaret Stone of the Federal Court of Australia in New South Wales is scheduled to hear a tax case involving asbestos against James Hardie Industries N.V. in September 2009, The Sydney Morning Herald reports.
Hardie’s legal woes over asbestos compensation…
James Hardie Industries N.V.’s operating income in fiscal year 2009 includes US$17.4 million of favorable asbestos adjustments, according to the Company’s annual report, on Form 20-F, filed with the Securities and Exchange Commission on June 25, 2009.
The Company’s operating income…
James Hardie Industries N.V. has recorded an asbestos liability of US$1.3 billion in its consolidated financial statements as of March 31, 2009, relating to its anticipated future payments to the Asbestos Injuries Compensation Fund (AICF) under the amended and restated…
Other net James Hardie Industries N.V. liabilities include a provision for asbestos-related education and medical research contributions of US$2.2 million at March 31, 2009 and US$3.3 million at March 31, 2008.
Also included in other net liabilities are the other assets…
James Hardie Industries N.V., on June 24, 2009, announced that its directors have determined to seek shareholder approval for a two-stage plan to transform the Company into a Societas Europaea, a relatively new form of European corporation (Stage 1), and…
James Hardie Industries N.V.’s current asbestos liability was US$78.2 million during the fiscal year ended March 31, 2009, compared with US$78.7 million during the fiscal year ended March 31, 2008.
The Company’s long-term asbestos liability was US$1.206 billion during the fiscal…