Entrepreneur Brad Cooper has become the first person involved in the HIH collapse to hand over money. Last week the former Collingwood AFL club board member and motivational speaker reached an undisclosed settlement with liquidator Tony McGrath over outstanding debts totalling more than $2.5 million.

The former butcher delivery boy’s involvement with HIH was criticised by HIH Royal Commissioner as a factor in the collapse, and his dealings with former FAI chief Rodney Adler have also come under close scrutiny.

There’s still more to come, however. There’s a NSW Supreme Court hearing into whether Mr Cooper was liable for a $1.38 million loan he personally guaranteed from FAI Insurance NZ to a company owned by Rodney Adler. Mr McGrath is also trying to recover part of a $US1 million fee paid to Mr Cooper and a friend for introducing HIH to a company owned by Kerry Packer for a property deal that never went ahead.

It’s hardly the last we’ll be hearing of Mr Cooper. Justice Owen referred to the NSW Director of Public Prosecutions two matters of allegedly obtaining money by false or misleading statements.