A NSW Special Commission of Inquiry has heard extensive evidence that James Hardie reorganised its operations and took assets overseas in an attempt to escape its compensation obligations to Australian victims of James Hardie asbestos products.

In an important back-down during the Jackson Inquiry this morning James Hardie acknowledged its obligations in relation to the future compensation of asbestos victims.

Mr Combet said that the company had indicated that it was now prepared to compensate all victims of its asbestos products into the future, but that it was still seeking a statutory compensation scheme which would limit the levels of compensation available.

“The significance of this mornings development is that James Hardie appears no longer to be trying to hide behind its’ corporate restructuring and leave its Australian victims without any compensation in the years to come,” said Mr Combet.

“This is an important breakthrough that the ACTU and unions have been seeking, but this morning’s concessions by the company still do not go far enough” said Mr Combet.

“The recognition that all victims must be compensated is important, but the unions and asbestos support groups do not want limits placed on the levels of compensation available – people dying from these products are entitled to full compensation under the current arrangements.

“What needs to happen now is discussion between the relevant parties which tests the company’s commitment and identifies a way forward,” said Mr Combet.

“The Medical Research and Compensation Foundation and ourselves have already outlined ways in which the current arrangements for compensating victims can be streamlined. We do not believe there is a case for statutory change which limits the level of compensation,” said Mr Combet.