About Us
Asbestos Injuries Compensation Fund Limited was formed in 2006 to implement and administer the agreement between James Hardie Industries NV and the New South Wales Government, whereby James Hardie Industries committed to funding a new trust which would pay compensation awarded against the former James Hardie companies Amaca, Amaba and ABN 60. The agreement is set out in the Amended and Restated Final Funding Agreement.
In order to do this, two trust funds have been established – the Charitable Fund and the Discretionary Fund. AICF is the trustee of the two trust funds.
The main activities of AICF are as follows:
- Receive and assess claims against Amaca, Amaba and ABN 60, and pay those claims using company funds or AICF Trust funds as appropriate.
- Pursue insurance and other recoveries on behalf of Amaca, Amaba and ABN 60, where available.
- Receive and manage the funds paid into the AICF Trust by James Hardie Industries.
- Manage and administer the role of the Trustee under the Amended and Restated Final Funding Agreement and the AICF Amended and Restated Trust Deed.
- Manage the statutory winding up of Amaca, Amaba and ABN 60 in accordance with the James Hardie Former Subsidiaries (Winding up and Administration) Act 2005 (NSW).
Mission
The AICF Mission is to professionally and efficiently manage claims and funding so that valid present and future claimants who sustain asbestos related disease as a result of exposure in Australia to products manufactured by Amaca, Amaba or ABN 60 are dealt with in accordance with AICF’s contractual and regulatory framework.
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