HIH Testimony Done, Report Due 2/28

According to the publication, The World Socialist, the royal commission investigating the collapse of HIH Insurance, formerly Australia's second largest general insurer and one of the largest in the world, is drawing to a close. Testimony was finished in December and the final report is due February 28. On December 20, the commissioner, Justice Neville Owen, issued a "no publication" order on the concluding submissions, which are expected to recommend criminal charges against about 20 people.The HIH liquidation in March, 2001, left behind more than $A5 billion of losses and it is estimated tha...