Almost every former senior executive of HIH Insurance has faced court since 2001, and last week it was the turn of the collapsed insurance giant’s Chairman, Geoffrey Cohen.

He is facing two criminal charges of providing misleading information to company shareholders. During the HIH annual meeting in 2000, he spoke about an impending joint venture between HIH and Allianz. The Australian Securities and Investments Commission alleges the statements referred to the effect the joint venture would have on HIH cashflow.

The Downing Centre Local Court in Sydney heard last week that HIH Public Affairs Manager John Clarke drafted Mr Cohen’s 2000 annual address three weeks before the December 15 meeting. The speech included the statements about the joint venture, despite the cashflow issue not being resolved until a month afterwards.

HIH was placed into provisional liquidation three months after the meeting.