NZ schools sue James Hardie
The New Zealand Ministry of Education is suing building products company James Hardie and others over $1.5 billion worth of repairs to leaky school buildings.
James Hardie shares were placed in a trading halt on Wednesday until it releases the details of the legal action.
James Hardie said the ministry was taking the action against two of its New Zealand subsidiaries, as well as other parties. Acting Education Secretary Peter Hughes, said the ministry lodged a High Court claim on behalf of schools.
Repair work is under way on more than 800 buildings.
James Hardie previously lifted its charge for a New Zealand product liability by $US7.5 million ($7.2 million) to $US13.2 million.
The legacy claims relate to buildings constructed from 1998 to 2004.