Tomorrow is D-day for the leading figures in the HIH collapse. The royal commission’s counsel assisting, Wayne Martin QC, will start summing up the whole sorry story before Justice Neville Owen in Sydney. Media and industry speculation suggests Mr Martin will be damning in his description of the actions of HIH executives, directors, consultants and other parties, and may call for charges to be laid against some.

All the parties will be able to make their own submissions in response in January before Justice Owen hands down his findings on February 28.