WA govt seeks to finalise Bell Group case

Legislation aimed at finalising the nation's most expensive and longest-running court case will be introduced to the West Australian parliament.

The Bell Group legal saga began in 1995, four years after the Alan Bond-controlled group collapsed, and centred on loans of about $265 million provided to various Bell companies by a consortium of 20 banks.

While the WA Supreme Court approved a settlement between the liquidators and banks in 2013, litigation between creditors is underway in the state and in the UK to determine how the $1.7 billion will be apportioned.

WA Treasurer Mike Nahan told parliament on Tuesday that legislation would be introduced to finalise the matter and "inject some certainty into the timing of the distribution of funds".

"There is limited confidence there will be a timely conclusion that does not involve further complex and protracted litigation across multiple jurisdictions," Dr Nahan said.

The Australian Tax Office and the state government-owned Insurance Commission of WA, which principally bankrolled the initial litigation, are among the four major creditors.

Dr Nahan's office said more information would be provided in parliament on Wednesday.