Updated September 18, 2019 07:14:55 A $500 million judgment against a company has cost a family of four in Sydney $250,000.
Key points: A $250 million judgment has been handed down against A.T. Kearney and its chief executive, John MancusoSource: News Corp AustraliaA family of six will pay more than $250 000 after the court ruled A. T. Kearneys had breached the Corporations Act by failing to disclose the extent of the risk of asbestos exposureSource: AAPA $250m award to the Kearney family was handed down by a federal court in Sydney in February 2019.
Mr Mancuseso was the chief executive of A. Kearns when it became embroiled in the controversy over asbestos exposure at the Kearns family home in Sydney’s north-west.
He pleaded guilty in December 2019 to breaching the Corporation Act and agreed to pay $250.7 million in damages.
The company had been granted a conditional discharge by the NSW Supreme Court in February 2020, but the appeal court ruling has been upheld by the High Court.
It is the second time in less than three years that A.A. Kearnys has had to pay a $250M fine.
In October 2018, the NSW Government agreed to settle a civil claim with the company, but it is yet to pay out the money due to the asbestos scandal.
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