Ratings agency Fitch yesterday affirmed the the 'AA-' insurer financial strength (IFS) rating of Bermuda-based Attorneys' Liability Assurance Society.

Fitch said the outlook for the ALAS rating was stable, or unlikely to change.

The agency said the strong rating reflected the company's good competitive position and strategy in the lawyers' professional liability market, exceptionally strong capital position, and comprehensive reinsurance protection.

Partially offsetting these positives were underwriting volatility inherent in the lawyers' liability insurance line, concentration risk as a monoline professional liability insurer, and the competitive nature of the lawyers' liability market.

ALAS is an established, stable, long-term player in the lawyers' liability insurance market, according to Fitch.

It praised the company for its specialised expertise enabling it to better meet the needs of its insureds and to differentiate itself from the competition with value-added services, particularly in loss prevention and claims management.

CableVision founder Gavin Wilson is being sued by former CableVision director William Richard Craig. Mr. Wilson said this week however that the suit over CableVision shares was in fact initiated as part of a "matrimonial thing" between Mr. Craig and his ex-wife who had received a claim on 50 percent of the interest the men had in the sale of the CableVision shares.

Mr. Wilson, who has recently founded CableVision competitor World on Wireless!, said that the action, pushed forward by a Canadian court, is somewhat premature as Mr. Wilson and Mr. Craig are still trying to settle a lawsuit they launched against brokerage firm First Bermuda Securities over the same 720,000 CableVision shares.

"We have an action in the courts on some shares that I sold and we haven't been paid for them," Mr. Wilson said. "Mr. Craig tried to explain this to the Canadian court that the action hasn't gone through the court yet and they didn't seem to go along with that so he was force to go ahead and (file the writ)."

A Bermuda-based subsidiary of Hollinger International is being sued by two US finance companies. According to The Globe and Mail, the American companies are suing Sugra (Bermuda) Ltd. claiming default on an aircraft lease deal. The financiers want $5.1 million in damages plus interest at 18 per cent a year.

The lawsuit against Sugra ? which spelled backwards is Argus, one of Hollinger's holding companies ? is among more than two dozen legal actions involving the company and listed in Hollinger International's recently released 2003 annual report.

The release of the annual report was delayed while a special committee investigated the company finances amid claims that fallen press baron Conrad Black ? known as Lord Black of Crossharbour since Halloween 2001 ? and cronies siphoned off hundreds of millions of dollars.

Island Press (Holdings) Ltd. chairman Randy French has increased his stake in the company to 3.32 percent after buying 16,385 common shares of the company.

The Bermuda Stock Exchange said it was notified in compliance with the BSX listing regulations.

Island Press shares are trading at $6.