A group of asbestos victims in New Zealand hopes to sue James Hardie in Australia for compensation after the company announced a multi million dollar deal with asbestos victims across the Tasman.
In the biggest personal injury settlement in Australian history, victims will be compensated for at least 40 years.
Under the agreement James Hardie will make annual payments to a special purpose fund, capped at 35% of its free cash flow.
Initially the fund will receive three years worth of funding. There will also be a two-year funding buffer to be maintained by annual contributions.
Australian victims will get about $250,000 each under the settlement.
A lawyer representing sufferers of asbestos disease in New Zealand is waiting for an Australian court ruling in February to find out if her clients will have the right to sue James Hardie in Australia.
Hazel Armstrong says victims cannot sue the company's New Zealand subsidiary and can receive compensation only from ACC, which she says is inadequate.
Victims in New Zealand get $67 a week from ACC and don't get lump sum payouts.
Earlier this year an Auckland widow went to court and was awarded a lump sum payout of $100,000 from ACC after her husband died from asbestos poisoning, but the corporation appealed against the payout.
The legal team representing Australian victims has raised doubts a New Zealand class action suit would be successful.
