Right:ex-board chairperson Meredith Hellicar was accused of making misleading statements. Ms Hellicar resigned ahead of the inquiry's findings.web links and documents
On June 3, 2009, corporate lawyers Corrs, Chambers and Westgarth published 'The James Hardie decision and its implications: A panel discussion. (Short opinion pieces from panel participants at a Corrs Chambers Westgarth panel discussion on 3 June 2009)'. Among other things the panel discussions define the former role of a non-executive company director and the additional level of responsibility now apparently expected of those in this role following the court decision finding the James Hardie directors guilty of fraudulent behaviour.This is quite complex material, however, it repays careful reading as it suggests some of the messages the corporate world is likely to take away from this case.
The full text of the panel's opinions can be found at http://www.corrs.com.au/corrs/website/web.nsf/Content/Pub_James_Hardie_Decision_030609/$FILE/James%20Hardie%20Corrs%20Discussion.pdf
On August 20, 2009, the Australian Council of Trade Unions issued a media release claiming that the fines and penalties imposed on the James Hardie directors were inadequate. The full text of this release can be found at http://www.actu.asn.au/Media/Mediareleases/PenaltiesforexHardiedirectorsarenotenough.aspx
On August 20, 2009, Matt Peacock, a reporter for the ABC's 7.30 Report, posted an analysis of the treatment received by the Hardie directors titled, 'James Hardie fines 'a joke' The full text of the report can be found at http://www.abc.net.au/news/stories/2009/08/20/2662140.htm
On August 20, 2009, WAtoday published a news report which quoted ASIC claiming that the recent fines and penalties would send a valuable lesson to corporate Australia on the level of responsibility required of company directors. The full text of this report can be found at http://www.watoday.com.au/breaking-news-business/james-hardie-decision-important-asic-20090820-erq6.html
On August 21, 2009, the ABC News ran a report titled, 'James Hardie penalties 'not enough' This gave the views of a number of critics of the penalties recently imposed on the Hardie directors. The full text of the report can be found at http://abc.gov.au/news/stories/2009/08/21/2662598.htm
On August 21, 2009, Professor Ian Ramsay, suggested that there were loopholes in Australia's corporate law that would allow some of the recently banned directors to obtain corporate positions overseas. The full text of this position can be found at http://www.abc.net.au/news/stories/2009/08/21/2662932.htm
On August 21, 2009, Stephen Mayne, the editor of the online current affairs and business site, Crikey, wrote and opinion piece titled, 'Greg Baxter escapes the Hardie blame game'. The piece suggested there should be some penalty imposed on Hardie's deceased chairman, Greg Baxter. The full text of this piece can be found at http://www.crikey.com.au/2009/08/21/greg-baxter-escapes-the-hardie-blame-game/