The Age --- Page: B4 : 9 October 2007 Original article by Leon Gettler
LexisNexis Summary
Chartered Secretaries Australia (CSA) is opposed to proposed reforms that would require liquidators and voluntary administrators to consider future claims. The Corporations & Markets Advisory Committee (CAMAC) proposed the changes in July 2007 in response to the issue of long-term liabilities, where injuries become evident years after exposure to dangerous products. CSA said the CAMAC review was conducted during legal proceedings against James Hardie Industries, and noted that the issue of compensation for asbestos victims had mostly been resolved to the satisfaction of all stakeholders since that time. CSA said this has proven that current laws are sufficient to protect future claimants.
