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The Government has reached a confidential settlement with building materials manufacturer James Hardie over hundreds of leaky school buildings, following a claim being lodged in the High Court in Apri.

The repair bill has been put at about $1.5 billion.

Associate Education Minister Nikki Kaye said the claims against the subsidiaries would be dropped with the settlement to go towards fixing the building problems and for future developments in New Zealand schools.

The Government would pursue claims against additional parties, including Carter Holt Harvey and CSR Building Products (NZ) Ltd, which also supplied materials.

The ministry is also taking legal action against architects and builders in relation to the leaky buildings.

Source: Stuff.co.nz

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