The 23-year-old court battle over the collapse of Alan Bond’s Bell Group has so far cost a staggering $263 million in legal fees and charges, the latest figures reveal.

But with no resolution to the litigation saga in sight, the State could be exposed to another 15 years of legal battles, according to the Insurance Commission of WA.

Liberal MP Nick Goiran received a series of answers about the ICWA’s annual report that lay bare the unending drain on taxpayers’ money expended on the Bell litigation.

In the past year, $8.4 million was spent on “external legal advisers and trustee costs” and $1.1 million was used for “internal costs and related expenses”.

Camera Icon Alan Bond in 1991.

Despite the litigation being settled in 2013 for $1.8 billion, there has been no resolution with creditors of the collapsed group of companies.

“Mediation and settlement attempts between creditors have been unsuccessful,” ICWA’s annual report said. “The complex structure of Bell provides scope for almost endless disputes in court. At the current rate of progress, it is estimated that a further 15 years of litigation may be required before creditors receive any return on their investment.”

“If the continuing legal costs average out to about $10 million a year, by 2033 the total expenses incurred by the company’s collapse will be approaching $450 million. The Insurance Commission considers the most efficient and expedient end to the Bell litigation is for all related proceedings to be heard in one court trial,” the annual report said.

“Such a hearing could commence in late 2018.”

Camera Icon Nick Goiran arrives at the Liberal Party conference in Joondalup today. Credit: Megan Powell The West Australian.

Back in the early 1990s, all motorists forked out $50 a year for three years to help fund the Bell court case in what became known as the WA Inc levy.

Of the $263 million shelled out to date, $198 million has gone to the Bell Group liquidators and their legal advisers.

Attorney-General John Quigley has been investigating ways to end what he called a “lawyers’ picnic”.

In 2016, the High Court ruled against an Act of the WA Parliament that was introduced in the hope of ending the disputes.

Camera Icon John Quigley, Attorney General outside West Australian Parliament House in Perth, talking about the sacking of WA's leading DNA scientist over allegations he breached testing protocols. 31 March 2017. Credit: Ross Swanborough - The Sunday Times.

Opponents of the legislation argued it was unconstitutional.

“There was a chance that the State then could have settled and this drain on our coffers stopped,” Mr Quigley told The West Australian in January.

“But as soon as the previous administration thought they’d finish this with an Act of Parliament, it drove all parties into their corners, ridden with distrust of each other.”