This week, James Hardie Industries announced a settlement in a weather tightness class action heard in Auckland High Court—in the middle of a trial expected to last 17 weeks. James Hardie, a global producer of fiber cement and fiber gypsum, will receive NZ $1.25 million as part of the settlement.
Yahoo! Finance details that Harbour Litigation Funding will pay James Hardie’s award, and neither party will make an admission of liability. This represents a final settlement for the ‘White litigation’ regarding Harditex cladding. However, two more claims remain—the Cridge litigation and the Waitakere litigation.
Country Manager John Arneil stated that the outcome of the White litigation supports the stance that the allegations were lacking in merit.
A ruling in the Cridge litigation is expected sometime this month. An Auckland High Court is not expected to hear the Waitakere litigation until the summer of 2023.