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Litigation Update - January 2008
As shareholders are aware, various Scapa Group companies are named as defendants in claims for damages arising from alleged exposure to asbestos.
In a January trial in the Circuit Court for Baltimore City, Maryland, the jury returned a verdict against Scapa Dryers Inc and co-defendant, the Wallace & Gale Settlement Trust, amounting to US$1,718,000 in total. The Board is examining the verdict and expects to appeal as we have with all previous adverse judgements.
In 15 years of defending these cases in the USA, no Scapa Group company nor any of our insurance carriers has admitted liability, nor made any payment to any plaintiff under our policies. Accordingly, our insurance cover remains intact and the Board will continue to defend vigorously the outstanding claims.
For further information please contact:-
Calvin O'Connor Scapa Group plc Tel: 0161 301 7400
Brian Tenner Scapa Group plc Tel: 0161 301 7400
Mark Stirzaker Scapa Group plc Tel: 0161 301 7400
Chris Hardie Arden Partners Tel: 0207 398 1639
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