Hardie Could Be Sued By Own Compensation Trust Fund Company

Breaking News

Hardie Could Be Sued By Own Compensation Trust Fund Company

December 26th, 2006

The trust fund company set up by troubled Aussie building materials manufacturer, James Hardie, has prepared plans to sue the Hardie Group in the event that a compensation trust fund deal for $1.5 billion is not approved by shareholders at a forthcoming meeting.

The trust fund foundation, which is the Medical Research and Compensation Foundation, is headed by a group of top corporate lawyers, and they have put plans in place to file a lawsuit against not only the Hardie Group but also individual former and current executives from the group in the event that the deal is not approved.

The MRCF was formed by Hardie in 2001, and it turned out that it was formed with a shortfall of around a billion dollars. Shareholders have already expressed concerns over Hardie�s intentions to pay asbestos sufferers even though the company has made statements that it is not legally obliged to do so.

Many people have been waiting for Hardie to set up some sort of compensation fund after its products, many of which were asbestos based, allegedly caused ill health and even death.

Asbestos Closes Iowa School
June 5th, 2008
Air test results shut down an Iowa elementary school this week amid concerns of asbestos. With only three weeks left in the school year, the superintendent is looking for a place for the 145 students.
Read More >>

Natural Asbestos Causes Health Concern
June 4th, 2008
A park in California has had almost half its 75,000 acres shut to the public after high levels of naturally occurring asbestos was found. The asbestos is in the soil at the park, and can become airbor
Read More >>

Important Notice: Mesolink.org is a legal informational site sponsored by the Peterson Firm, LLC. The Peterson Firm's office is located at: 20 N. Orange Ave - Suite 400, Orlando, Florida 32801. The Peterson Firm is licensed by the Florida Bar Association to practice law within the state of Florida. If the Peterson Firm undertakes representation of a client outside the state of Florida, it will do so with assistance of local counsel from a law firm located in the state where the case is filed. If Peterson Firm undertakes representation in the state of Florida it will also do so with assistance of co counsel.

The content contained herein was not prepared by lawyers and should not be taken as a substitute for legal advice from a licensed attorney. Additionally, this information is not intended to create an attorney-client relationship simply by its viewing. The creation of an attorney-client relationship requires more than viewing this or affiliated websites. Neither the transmission nor receipt of this website material will create an attorney-client relationship between sender and receiver. The material contained herein is general in nature and may or may not be applicable to a viewer's individual legal needs. Online readers should not act on this information without seeking professional counsel. Please read our 'Terms & Conditions Of Use' for more information.

Additionally, the information contained on Mesolink.org, including but not limited to informational articles, other text/images, and on or off site links, has not been prepared, endorsed, or reviewed by any form of licensed medical professional, including but not limited to physicians, doctors, and so on. Nothing on the this website should be taken as medical advice, but instead should act as a useful resource in providing general information that may be useful to members of the general public. All visitors are encouraged to consult with a physician or other licensed medical professional for any form of medical advice. Please see our 'Terms & Conditions Of Use' for further information.