HIH Insurance Limited was a publicly listed company in Australia. Prior to its collapse in 2001, the HIH Group was the second largest general insurer in Australia and had operations in many other countries.
On 15 March 2001, HIH Insurance Limited and a number of its subsidiaries were placed into provisional liquidation. Subsequently, on 27 August 2001, the companies that were in provisional liquidation were placed into liquidation.
Schemes of Arrangement are now in place for eight of those companies.
The Scheme Administrators have made initial payments to certain creditors and will make further payments over the coming years.
Decision on the priorities to apply to non Australian assets – The House of Lords has handed down its decision that Australian priorities are to apply to the Insolvency of the HIH group. Download a copy of the English Scheme Administrators summary of the decision.