Asbestos lawyers welcome James Hardie High Court decision

Today's High Court decision on James Hardie Industries has been welcomed by Maurice Blackburn lawyers. The Court held that seven non-executive directors of James Hardie broke the law when they released a misleading statement to the Australian Stock Exchange in February 2001.

"James Hardie misled the community about how much money had been set aside for asbestos compensation and this caused enormous stress and confusion for many of our asbestos clients," said Theodora Ahilas, Maurice Blackburn principal asbestos lawyer.

"Asbestos sufferers will be pleased with this High Court decision. James Hardie tried to run but it couldn't hide.

"It is good news that the company has finally been held to account for its poor corporate governance. It will give some comfort to asbestos sufferers and their families.

"Because this situation has dragged on for many years, many asbestos sufferers who witnessed this conduct have now died. It's important that there are sufficient compensation funds available to people who were exposed to asbestos by James Hardie and who suffer from mesothelioma, asbestosis and other such diseases.

"We still haven't seen a peak in the number of asbestos sufferers in Australia.

"Depending on the models used, experts suggest that the number of deaths from mesothelioma will peak somewhere between 2014 and 2021.

"More than half of the people who will die from these horrendous lung diseases are yet to be diagnosed due because the exposure occurs decades before the onset of symptoms."