Friday, 13 July 2012

Compensation Fund-Brazilian Court-Brazilian Real-Shell-Basf

BASF, Shell told to pay $525 million by Brazil court

FRANKFURT (Reuters) - German chemicals maker BASF and oil major Shell have been told by a Brazilian court to pay 1.06 billion Brazilian real ($525.23 million) into a compensation fund for former employees at a pesticides plant who said their health suffered from working there. BASF said on Tuesday it would appeal the ruling and would continue talks with the plaintiffs and with Shell to reach an out-of-court settlement. A Shell spokeswoman said: "Shell does not agree with this decision, but we will abide by it until appeals have been ruled on by higher courts". ... read more..

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