Vic: ASIC action shouldn't affect compo package-ACTU

AAP General News (Australia)
02-15-2007
Vic: ASIC action shouldn't affect compo package-ACTU

Unions say they don't expect civil legal action launched by the corporate watchdog
against James Hardie .. to affect the compensation package for asbestos victims.

The Australian Securities and Investment Commission is suing the building products
giant .. plus 10 current and former executives and directors .. for allegedly misleading
investors over its compensation payouts for asbestos victims.

ACTU secretary GREG COMBET says this shouldn't affect last week's decision by James
Hardy shareholders .. to approve a four billion dollar compensation payout for asbestos
disease victims.

And he says the court action vindicates a union campaign against James Hardie .. which
eventually led to the compensation package.

AAP RTV sam/gfr/rt/bart

KEYWORD: HARDIE ACTU (MELBOURNE)

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