In February 2003, Gencor settled with the claimants in the asbestos lawsuit by paying (South African rands) ZAR378 million in the newly established Asbestos Relief Trust and ZAR4.2 million into a trust for the claimants. There were mixed reactions among the attorneys representing the claimants; some felt that Gencor had not paid enough, while others were relieved that the battle was over and the victims would get compensation. This case had ramifications for other multinationals. An example: one of the South African gold mining conglomerates began to offer better medical attention and benefits to its AIDS sufferers, and the door was open to lawsuits against other multinationals. This case is part of a series labeled A through D, UVA-E-0285 through UVA-E-0288.
Darden Business Publishing – University of Virginia