Pacific Dunlop Ld - Re Litigation Settlement
16 June 1998 - 5:43PM
UK Regulatory
RNS No 9513k
PACIFIC DUNLOP LIMITED
16th June 1998
PROPOSED SETTLEMENT IN AUSTRALIAN CLASS ACTION
Pacific Dunlop Limited today announced that agreement in prinipal had been
reached by the Group's insurers to settle certain current and future litigation
in Australia arising out of the Accufix Atrial "J" pacemaker leads formerly
manufactured by Accufix Research Institute (ARI) (then called Telectronics).
The settlement is subject to the approval of the Federal Court in Sydney - a
hearing for this purpose has been scheduled for 7th August, 1998.
The Court today ordered that all Australian patients with Accufix pacemaker
leads be notified on or before 30th June, 1998, by notice and press
advertisement of the terms of the proposed settlement and the date of the August
hearing.
The proposed settlement calls for the payment of $15,000 to those patients whose
Accufix pacemaker leads have been or will be explanted. Explanted patients who
believe they are entitled to further compensation will be entitled to have their
claims assessed by a panel of two barristers.
The proposed settlement does not resolve the separate claims for compensation
for patients with working leads (the "monitoring class"). The defendants
continue to meet the unreimbursed medical expenses of the monitoring class, but
have been advised that this class intends to press litigation seeking monetary
compensation. This suit will be vigorously defended.
For further information: John Hine
General Manager Corporate Affairs
61 3 9270 7140
61 0412 254952
Martin Hudson
Chief General Counsel
61 3 9270 7102
END
MSCAVONKWRKNAAR
Hsbc Bk.22 (LSE:49IA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hsbc Bk.22 (LSE:49IA)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Hsbc Bk.22 (London Stock Exchange): 0 recent articles
More Pacific Dunlop Ld News Articles