the scandal-hit Manhattan Investment Fund, taking the amount involved up to $4.262 million and prompting action against the fund by the Registrar of Companies.

Last week The Royal Gazette revealed that the Bank had been hit with five lawsuits worth $2.47 million to freeze funds deposited with the bank by the fund.

This week a further three have been filed, taking the figure up by $1.792 million.

The Registrar of Companies has also filed a writ against Manhattan Investments Ltd. in relation to the fund.

The hedge fund, which was registered in the British Virgin Islands but was administered and audited by Bermuda companies, admitted last week that it had lost $500 million after previously claiming it had made massive profits.

The scandal was unearthed after Deloitte & Touche LLP, the Bermuda auditors of the fund, withdrew approval for the fund's financial statements for 1996, 1997, and 1998.

Bank faces more writs A subsequent investigation by fund administrator and local Ernst & Young affiliate Fund Administration (Bermuda) Inc. revealed the extent of the losses and accused the fund's managers of misrepresentation.

Last week a number of other mutual funds which were investors in the fund have moved to freeze deposits made in the Bank of Bermuda by Manhattan Investment Fund.

This week Allen Essner, Jeffrey Stephens and John Wuenche, trustees of the Yorkshire Trust, filed a writ against the Bank of Bermuda, Manhattan Investment Fund, Michael Berger and Manhattan Capital Management. No amount was filed.

They were joined by Republic National Bank of New York (Suisse SA) against the same four parties for $992,000.

Fleyor Multi-Management Fund Ltd. were the last to file against the four for $800,000.

Last week writs were issued against the bank by Absolute Alpha Fund PCC Ltd.

and Avis Fund Ltd. and Richcourt Superplus Inc.

In writs just against the bank, BAS Equity Neutral Fund Ltd for $2 million was followed by Eagle Ray Fund, for $470,000.

Kredietbank SA named Fund Administration (Bermuda) Inc. and Manhattan Investment Fund in addition to the bank.