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This excerpt taken from the ICI 6-K filed Mar 21, 2007. Legacy
issues Group legacy issues relate principally to those businesses divested following ICI’s acquisition of Unilever’s Speciality Chemicals businesses in 1997. Their management involves a range of activities concerned with handling the consequences of such divestments and managing ICI’s interests where the Group has retained certain obligations. Most legacy issues relating directly to these divestments have been dealt with. However, new issues may arise from time to time. In addition, some agreements relating to divested businesses have not yet been novated, although the new business owners fulfil ICI’s obligations under those agreements. Over the past few years the scale of the net contingent liabilities in this area has reduced significantly. Current activities include managing residual land and property which was not sold with the businesses and most are subject to remediation programmes with the expectation that many of these will be sold in due course. The Group has made provision for such matters as set out in more detail in note 25 relating to the Group accounts. More details of contingent liabilities can be found in note 33 relating to the Group accounts.
This excerpt taken from the ICI 6-K filed Mar 14, 2006. Legacy issues Group legacy issues relate principally to those businesses divested following ICI’s acquisition of Unilever’s Speciality Chemicals businesses in 1997. Their management involves a range of activities concerned with handling the consequences of such divestments and managing ICI’s interests where the Group has retained certain obligations. Most legacy issues relating directly to these divestments have been dealt with. However, new issues may arise from time to time. In addition, some agreements relating to divested businesses have not yet been novated, although the new business owners fulfil ICI’s obligations under those agreements. Over the past few years the scale of the net contingent liabilities in this area has reduced significantly. Current activities include managing residual land and property which was not sold with the businesses and most are subject to remediation programmes with the expectation that many of these will be sold in due course. The Group has made provision for such matters as set out in more detail in note 24 relating to the Group accounts. More details of contingent liabilities can be found in note 32 relating to the Group accounts. | EXCERPTS ON THIS PAGE:
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