James Hardie NSW Court of Appeal Decisions

22-12-2010
On 17 December 2010 the Supreme Court of New South Wales Court of Appeal delivered its judgments on the appeals and cross appeals in the James Hardie matter

The non-executive directors of James Hardie Industries Limited were successful in their appeals and the previous findings of the trial judge that they had breached their statutory duties of care and diligence were overturned.

The Court of Appeal handed down two decisions:

  • the first relating to the directors and officers of James Hardie
  • the second relating to James Hardie Industries

The Court of Appeal's decision relates to non-executive directors. However, the Court of Appeal found that the General Counsel/Company Secretary, Chief Financial Officer and James Hardie Industries had contravened the Corporations Act in relation to particular conduct.