Asbestos Injuries Compensation Sample Clauses
Asbestos Injuries Compensation. Fund Limited in its capacity as trustee of the trust established under a trust deed dated 7 April 2006 between it as trustee and JHISE as settlor of ▇▇▇▇▇ ▇, ▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ in the State of New South Wales (the Trustee)
Asbestos Injuries Compensation. Fund Limited in its capacity as trustee of the trust established under a trust deed dated 7 April 2006 between it as trustee and JHISE as settlor of ▇▇▇▇▇ ▇, ▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ in the State of New South Wales (the Trustee)
A. This deed (which amends and restates the Final Funding Agreement dated 1 December 2005 entered into by JHISE, the NSW Government and the Performing Subsidiary on that date and subsequently by the AICF (the “Original FFA”)) is entered into by the Parties hereto in the following context (some of the expressions used in these recitals being defined in clause 1 of this deed):
(a) in February 2004, the NSW Government established the ▇▇▇▇▇▇▇ Inquiry;
(b) in September 2004, the ▇▇▇▇▇▇▇ Inquiry found that the MRCF was, and is, underfunded in the sense that Amaca and Amaba, being two former subsidiaries of JHIL which are now owned by MRCF, will not over time have sufficient funds and other assets to meet their anticipated future liabilities:
(i) to sufferers of Asbestos disease as a result of exposure to Asbestos dust and fibre in Australia whilst in their employ or from products manufactured by Amaca or Amaba or otherwise from their Asbestos activities; and
(ii) to the relatives or estates of such sufferers, and associated costs and expense; 9856871_11
(c) in July 2004, JHISE had proposed to the ▇▇▇▇▇▇▇ Inquiry that, on certain conditions, its directors would recommend that shareholders approve the provision of additional funding to provide for the present and future liabilities of Amaca and Amaba to such sufferers of Asbestos related disease;
(d) the ABN 60 Foundation is the holding company of ABN 60, the former parent company of the ▇▇▇▇▇ ▇▇▇▇▇▇ group, which may be alleged to have Asbestos-related personal injury liabilities arising from its own activities and from the activities of Amaca and Amaba, and has (or had) payment obligations to Amaca and Amaba under a deed of covenant and indemnity between them dated 16 February 2001;
(e) the ▇▇▇▇▇▇▇ Inquiry found, inter alia, that:
(i) ABN 60 (then, as JHIL, the parent company of the ▇▇▇▇▇ ▇▇▇▇▇▇ group) did not have a legal obligation to provide funds to Amaca and Amaba to add to the assets of those companies on or prior to implementing the arrangements which resulted in those former subsidiaries becoming owned by the MRCF;
(ii) some of the suggested causes of action of Amaca, Amaba or the MRCF arising out of the conduct of members of the ▇▇▇▇▇ ▇▇▇▇▇▇ Group, their officers, their actuaries a...
Asbestos Injuries Compensation. Fund Limited ACN 117 363 461 (AICF) in its capacity as trustee of the Charitable Fund established under a trust deed dated 7 April 2006 (as amended and restated) between it as trustee and ▇▇▇▇▇ ▇▇▇▇▇▇ Industries SE as settlor, of ▇▇▇▇▇ ▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ (Borrower)