Document Jv7jOZONDRB8MBK77XgGOjVke

FILE NAME Cape Asbestos CAPE DATE 1978 Mar 8 DOC CAPE171 DOCUMENT DESCRIPTION Telex to Mr. Milwid Re legal wording about nonenforcibility in the UK & South Africa Legal - Tibbs Case Exhibit 69 11 944 VIA WUI LOWIRCO 1052 CGO 03 ECTRONIALY FILED - 2023 Oct 18 ECEIVED 12:30 MAR 8 1978 PM - 246 CAPIND G 8.3.78 8.3.78 TELEX TO : MR S A MILWID LORD BISSELL & BROOK RIC-HLAND COMON RE CAPE ACCOUNTS 3333 3333 333 333 3333 PLEAS REF MY TELEX OF 10 JANUARY ON THE FORM OF NOTE TO GO IN THE CAPE INDUSTRIES ACCOUNTS WE HAVE DECIDED THAT A NOTE COVERING 6OTH - THE NAAC OUTSTANDING CLAIMS AND THOSE INVOLVING CAPE AND EGNEP WHICH HAVE BEEN IGNORED WILL HAVE TO BE INCLUDED ALTHOUGH WE ELIEVE THAT A STATEMENT CAN PROPERLY BE MADE THAT THE CLAIMS WILL NOT HAVE A MATERIAL EFFECT ON THE GROUP IN VIEW OF THE U.K. AND SOUTH AFRICAN ADVICE ON ENFORCEABILITY AND PEAT 203CP41759 MARWICK'S ADVICE TO US IS NOT MATERIAL IN THE THAT CAPE THE LOSS OF NAAC'S GROUP CONTEXT OUTSTANDING ASSETS THE AND FOLLOWING PEATS AND NOTE HAS BEEN AGREED WITH OUR SOUTH AFRICAN LAWYERS UNLESS YOU DISAGREE OVER ANY MAJOR POINTS OF PRINCIPLE I WOULD HOPE THAT YOU COULD ACCEPT THE WORDING ALTHOUGH THE SETTLEMENT OF THE ACTIONS REFERRED TO IN THE CHAIRMAN'S STATEMENT TERMINATED THE PRIMARY U.S.A. LITIGATION IN WHICH THE GROUP WAS INVOLVED CERTAIN COMPANIES IN THE GROUP CONTINUE TO BE NAMED ALONG WITH OTHER ASBESTOS FIBRE AND ASBESTOS PRODUCT SUPPLIERS AS DEFENDANTS IN OTHER LEGAL ACTIONS IN THE U.S.A. CLAIMING DAMAGES AS A RESULT OF THE USE OF THEIR PRODUCTS THE DIRECTORS BELIEVE IN THE LIGHT OF LEGAL ADVICE THEY HAVE RECEIVED THAT THE OUTCOME OF THESE ACTIONS IS UNLIKELY HAVE ANY MATERIAL EFFECT ON THE GROUP'S FINANCIAL POSITION AND ACCORDINGLY NO PROVISION IN RESPECT OF THEM HAS BEEN MADE IN THESE ACCOUNT'S PLAINTIFF'S PENGAD