12 Jul 2006

Solomons High Court to rule today on insurance company liquidation

12:57 pm on 12 July 2006

More than 2,000 policy holders of Solomon Islands Mutual Insurance company, SMI will know the fate of their investment after the High Court rules on a case seeking liquidation of the company today.

The case has been filed by the acting comptroller of Insurance, Central Bank Governor Rick Hou.

Mr Hou had filed the case at the High Court seeking the winding up of SMI because it had not complied with the Provision of the Insurance Act to submit its financial accounts.