My guess would be that the previous owners of the pits, prior to...

My guess would be that the previous owners of the pits, prior to privatisation of Telstra, would only be responsible for deaths/injuries caused during the then installation of asbestos in the pits and ducts. As long as they are not disturbed, the asbestos is perfectly safe, or so they say.

Telstra is the current owner of the pits and ducts and is fully aware of the dangers involved in disturbing them, but they can safely be disturbed if proper procedures are used. I don't think the original owners can be held responsible for what Telstra does today. Any injuries cause by what is happening now is completely outside their control.

In the case you mentioned, the injuries occurred under the previous owner and liability cannot be avoided by simply changing the corporate structure.

I think the essential difference is: whereas new owners must carry the liabilities of previous owners, previous owners are not responsible for the liabilities of new owners.