Bermuda to have its funds sequestered.

Sequestration means the court appoints a team of officers to seize and then manage all the union's assets. In this case four accountants from the Hamilton firm of Butterfield and Steinhoff are on standby -- Mr. Robert Steinhoff, Mr.

John Tantillo, Mr. Blake Marshall and Mr. Huw Spiers.

The process is similar to what happens when a bankrupt company goes into the hands of receivers. "The sequestrators would take possession of the all of the property of the union and manage it,'' said a legal expert last night.

"They would pay into court $100,000 a day for as long as the union is in breach of the injunction. At noon each day they would find out if the union has been in compliance or not. If not, there's a fine to be paid.'' The BIU would not be able to access its own bank accounts, and the sequestrators would have the power to use union buildings to raise cash for fines. Lawyers briefed by the sequestrators would advise them on what steps to take.