The Court upheld a landmark New South Wales court decision that the former board members breached their duties as company directors when they approved a misleading draft announcement to the stock exchange in 2001.
The statement said the company had a fully funded compensation plan to pay claims from people suffering asbestos diseases, but the foundation was underfunded by more than $1.5 billion and faced bankruptcy.
Catherine Zengerer speaks to ABC journalist and Author of “Killer Company” (HarperCollins, 2009) Matt Peacock, who has been following the story from the beginning.[audio https://czengerer.files.wordpress.com/2012/05/matt-peacock.mp3]
This story first appeared on Your Rights at Night