The extent of the damage caused by its involvement in the film financing business is emerging as further evidence is given to the on-going Royal Commission into the 2001 collapse of Australia's HIH Insurance Group.
This week documents were tendered that show outstanding claims could be as high as $225.5m, comprising $40m in potential exposure from business signed off from the Adelaide office in South Australia - known claims already amount to nearly $20m - as well as $185.5m from HIH London.
Also becoming clear is just how little HIH knew about the film business and the extent of the poor accounting practices within HIH London.
About 30 films - predominantly Paramount Pictures, J&M Entertainment and Franchise Pictures titles are involved - some of which are now the subject of litigation.
Some titles, including Paramount's Face/Off, Event Horizon, The Truman Show and Kiss The Girls have already come under litigation. Others do not reach their last claim determination date until December 1, 2002.
The Royal Commission, being held before Justice Neville Owen, is examining whether decisions or actions by the directors, officers and advisers of HIH contributed to the failure of the group, and whether local laws covering the insurance sector are appropriate and adequate, but is not required to report until February 2003.