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/ Loan granted to replenish asbestos fund

Loan granted to replenish asbestos fund

2009-11-12 03:21:28 (GMT) (mesotheliomacancernews.com - Mesothelioma News)



A government loan will help replenish the James Hardie asbestos fund.

Australia (Mesothelioma Cancer News) – The dwindling James Hardie asbestos fund will reportedly get assistance from the Rudd Government. As reported by The Daily Telegraph, Prime Minister Kevin Rudd is expected to announce a loan agreement from the Federal Government, which will provide $360 million to help provide compensation for dying asbestos victims who would have been negatively affected by the compensation fund’s previously reported shortfall.

Asbestos Diseases Foundation president Barry Robson is quoted in the report as stating of the news, “That’s great news. There were some fears among some of the victims’ groups.” Robson further expressed that the group had gained confidence that James Hardie would resume making payments into the fund as global economic conditions improved, after a meeting with the company’s board earlier in the year.

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