Regret the Error

On Saturday, March 15, 2008, under the headline, ”Ghosts of HIH may come back to haunt Liberals”, The Canberra Times made a number of incorrect assertions about Goldman Sachs Australia, and its former chairman, the Federal Member for Wentworth, Mr Malcolm Turnbull, which it would like to correct. The Canberra Times accepts that at no time did GSA or Mr Turnbull advise FAI Insurance on any privatisation proposal, and similarly accepts that at no time did GSA or Mr Turnbull ever advise HIH Insurance on its takeover of FAI. We recognise that, while GSA and Mr Turnbull advised FAI on the HIH takeover, at no time did GSA have any obligations towards HIH. Further,we concede that the assertion that GSA and Mr Turnbull ”concealed the true position of FAI” from HIH is incorrect. Any inference that GSA or Mr Turnbull acted in anything other than a professional manner was not intended, and The Canberra Times unequivocally apologises to them both.