prosecutors were considering bringing civil and criminal charges against the CEO and other senior executives for making fraudulent statements as to the liquidity of the MRCF. In February 2007 every member of the 2001 board and some members of senior management were charged by the Australian Securities & Investments Commission (ASIC) with a range of breaches of the Corporations Act 2001 including breach of director's duties by failing to act with care and diligence. ASIC also undertook investigations into possible criminal charges against the company's executives but in September 2008 the Commonwealth Director of Public Prosecutions decided there was insufficient evidence and charges were not pursued. In 2009, the Supreme Court of New South Wales found that directors had misled the stock exchange in relation to James Hardie's ability to fund claims. They were also banned from serving as board members for five years. Former chief executive Peter Macdonald was banned for 15 years and fined $350,000 for his role in forming the MRCF and publicising it. The former directors, excepting Macdonald, appealed and the New South Wales Court of Appeal subsequently overturned the ruling against these directors in 2010. ASIC appealed against the ruling in the High Court of Australia in October 2011. In May 2012 the High Court upheld the 2009 New South Wales court decision and found that seven former James Hardie non-executive directors did mislead the stock exchange over the asbestos victims compensation fund. In August 2019, Mathew Werfel, a DIY handyman from Adelaide, won $3 million in a compensation case against James Hardie. Werfel was exposed to asbestos while pulling down fences and renovating two homes between 1990 and 2000, and was diagnosed with testicular cancer in 2017. James Hardie's products no longer contain asbestos, but Werfel's lawyer claimed the company should have done more to alert the public to the existence of asbestos in its old products, which were used in older homes. In 2021, James Hardie a New Zealand court dismissed a lawsuit claiming Harditex cladding caused weathertightness problems in New Zealand homes. The judge found that bad building methods rather than James Hardie products caused the problems. Timeline Timeline of key events from the Devil's Dust TV program: 2004: James Hardie CEO Peter MacDonald resigns, with a resignation payment of $9 million. February 2007: ASIC files court proceedings against the James Hardie board as it "failed to act with requisite care and