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ARTICLE · 12 MAY 2010

Concern Over CSR's Asbestos Related Liabilities And Their Demerger

Piper Alderman
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Dispute Resolution Partner, Tom Griffith and Corporate Lawyer, Vasyl Nair review the Full Federal Court’s recent decision in CSR’s appeal from earlier orders withholding the Court’s consent for the convening of a shareholders meeting to consider a demerger of CSR’s sugar and building products divisions. At the heart of both decisions was concern over CSR’s future asbestos-related liabilities.

AustraliaEmployment and HR
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By Dispute Resolution Partner, Tom Griffith and Corporate Lawyer, Vasyl Nair

Dispute Resolution Partner, Tom Griffith and Corporate Lawyer, Vasyl Nair review the Full Federal Court's recent decision in CSR's appeal from earlier orders withholding the Court's consent for the convening of a shareholders meeting to consider a demerger of CSR's sugar and building products divisions. At the heart of both decisions was concern over CSR's future asbestos-related liabilities.

Facts

On 8 October 2009, CSR Limited (CSR) sought orders in the Federal Court of Australia for the convening of a meeting of its shareholders. The purpose of the meeting was for the shareholders to:

  • consider a scheme of arrangement (Scheme); and

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