The New South Wales Supreme Court in New South Wales, Australia, ruled that certain former managers and directors of James Hardie Industries N.V. breached corporations law over the Company’s restructure and establishment of an asbestos payout trust in 2001, ABC…
ING Groep N.V. had an outstanding balance of EUR52 million as at Dec. 31, 2008 (2007: EUR66 million) relating to environmental and asbestos claims of the insurance operations, according to the Company’s annual report, on Form 20-F, filed with the…
Parties in asbestos-related insurance litigation involving AXA and Philips N.V. reached a settlement in June 2008, following litigation initiated in the Netherlands and United States, according to the Company’s annual report, on Form 6-K, filed with the Securities and Exchange…
Margaret Lawson of Sydney, Australia, on April 13, 2009, was posthumously awarded AUD500,000 from James Hardie Industries N.V. after the Court of Appeal upheld an award by the Dust Diseases Tribunal for AUD350,000 in compensation and nearly AUD200,000 as a…
Koninklijke Philips Electronics N.V.’s recorded provision for loss contingencies on asbestos product liability amounted to EUR640 million at Dec. 31, 2008 (EUR316 million at Dec. 31, 2007), according to a Company report, on Form 6-K, filed with the Securities and…
During 2008, Koninklijke Philips Electronics N.V. (Royal Philips Electronics) recorded an asbestos-related settlement charge of EUR239 million, according to the Company’s annual report, on Form 20-F, filed with the Securities and Exchange Commission on Feb. 23, 2009.
Headquartered in Amsterdam, The…
Koninklijke Philips Electronics N.V. faces actions in the United States, relating primarily to the activities of its U.S. subsidiary TH Agriculture & Nutrition L.L.C. (THAN) prior to 1981, involving allegations of personal injury from alleged asbestos exposure.
The claims generally relate…
Royal Philips Electronics N.V.’s EBITA (earnings before interest, tax and amortization) for the full year of 2008 was EUR931 million, 55 percent lower than in 2007, primarily impacted by EUR241 million final settlement on asbestos-related claims in the United States.
Other…