Cape Plc & Ors - asbestos related liabilities to employees and ex-employees - High Court ChD, 7th June 2006.
Cape plc and 24 subsidiaries have heavy and as yet largely unknown asbestos related liabiilties to employees and ex-employees. Estimates of amounts which may become due range from £70m to £240m. The existence of these potential liabilities is hampering current operations. This matter is an application to the Court concerning the convening of meetings to consider a scheme of arrangement designed to protect claimants but to remove impediments hampering current operations. The High Court has concluded that there were no grounds for refusing the orders sought by the Cape companies