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November 21, 2019
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Inquiry may need more time and funding says UBS COI Chairman

 

The Commission of Inquiry into the UBS Loan deal has been deferred by two weeks, to allow for necessary administrative arrangements to be completed, this was made known by COI Chairman, Sir Salamo Injia.

In providing an update, Sir Salamo also announced that the Inquiry may need more time and funding to ensure it complies with its Terms of Reference.

The Commission of Inquiry into the off-shore loan from the Union Bank of Switzerland and related transactions was supposed to begin its hearings yesterday – however, Inquiry Chairman, Sir Salamo held a short briefing explaining the slight delay.

Several new appointments to the Commission, with Retired Judge Justice John Gilmour appointed as second commissioner, and of Mathew Howard as Senior Counsel, replacing Sam Koim.

“The second Commissioner is Retired Judge Justice John Gilmour QC. He is a former Judge of the Federal Court of Australia and that court specialises in the resolution of commercial disputes in Australia.”

“That will mean that I will remain as the Chairman of the Commission of Inquiry, together with Commissioner Gilmour, to conduct the inquiry,” Sir Salamo explained.

Chairman Sir Salamo also highlighted, that given the international nature of the Inquiry, additional time, and funding may be needed to ensure that the Commission diligently complies with its Terms of Reference.

“Further administrative arrangements to secure the resources that are required for the Inquiry including technical expertise,  is still continuing. So granted that those administrative arrangements are completed in the coming two weeks, the Commission of Inquiry will commence its preliminary sittings on Tuesday, the 19th of September 2019.”

“At this preliminary sitting, the road map for the inquiry and the procedures to be employed in conducting the Inquiry will be settled.”

In light of these circumstances, the Commission has deferred the start of hearings by two weeks.

 

By Meriba Tulo – EMTV News, Port Moresby

 

 

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