A South Carolina court has set a trial date of February 3, 2025, for Anglo American PLC, ESAB Corporation, and billionaire Mohed Altrad, among others. The trial will determine responsibility for billions of dollars in liabilities stemming from asbestos supplied by Cape Asbestos.
A court-appointed receiver initiated the lawsuit in June 2023, alleging unjust enrichment and that the defendants were responsible for Cape's actions. ESAB is alleged to be the ultimate parent company and successor in interest to entities that controlled the majority of shares in Cape and directed its operations.
Historical documents from Cape acknowledged its provision of amosite asbestos, a known cause of fatal cancers, to U.S. companies for decades. The potential financial implications for ESAB from this litigation are substantial, given the scale of the alleged liabilities.
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