Bermuda-based company to protect his assets from his creditors.

The former tycoon claimed Hemisphere Management gave him Aus$200,000 (US$134,540) to help pay his legal bills, according to "The West Australian'' newspaper.

By claiming the money was a gift, Mr. Bond is seeking to stop it being seized by his bankruptcy trustee and distributed to creditors.

But yesterday, Hemisphere Management, which is based in Hamilton, denied it had made a donation to Mr. Bond.

Mr. Joseph Kelly, the company's vice president, said a report on the hearing in the West Australian newspaper contained false information.

"We've called Australia and pointed out that the article is totally erroneous,'' said Mr. Kelly.

According to the article, Mr. Bond claimed that Hemisphere was run by long-time friend Mr. Graham Lacey.

But the company is in fact owned by Christopher and Christine Wetherhill, Mr.

Kelly, and Ms Margaret Every.

Mr. Kelly said: "Lacey used to be a client of our company, that's all. He's never owned it.'' The article said Mr. Bond had produced "a letter from Hemisphere Management'' confirming the loan arrangement.

"The letter had no address, telephone number or fax number -- just a post office box number in Hamilton, Bermuda,'' said the story.

"Bond said the company was incorporated in Bermuda and had offices in London and New York.'' But Hemisphere, which provides management services to exempted firms in Bermuda and the Cayman Islands, has no offices in these two cities.

The West Australian quoted the bankruptcy trustee's lawyer, Mr. Ben Luscombe, as saying: "We challenge the authenticity of the letter.

"Without putting too fine a point on it, it smacks of a sham, in my submission.'' Mr. Bond, who has debts of Aus$500 million (US$336 million) brought up the Bermuda connection at an Administrative Appeals Tribunal in Australia last month, reported the West Australian.

He was appealing against his bankruptcy trustee's assessment that Aus$667,000 (US$449,000) worth of gifts he received should be treated as income.

Under Australia's Bankruptcy Act, Mr. Bond has to pay half of his income to the trustee.

The hearing reserved its decision on how to categorise the gifts.