involving a shareholder of Bermuda-based general reinsurer, Belvedere Insurance Company Ltd., a company that is now in run-off.

The appellant was former Belvedere vice president and treasurer, Mrs. Vanessa Ellen (Johnson) Thomas. Belvedere parent, Caliban Holdings Ltd., was the respondent.

Mr. Mark Diel represented the appellant before the Hon. Sir James Astwood, President, and his colleagues, the Hon. Justice DaCosta and the Hon. Sir Derek Cons.

The proceedings, however, were put off indefinitely so that lawyers could consult on a next step.

Mr. Diel expressed concern that a prior verbal ruling made by Puisne Judge, the Hon. Mr. Justice Meerabux, bore no resemblance to the official record that was before the court on Monday, and made from the trial notes of Justice Meerabux.

Mr. Diel told the travelling court, "It would appear the record is defective.

I think it may be inaccurate, is the best way I can put it.'' There was a suggestion from the court that Justice Meerabux may have thought about the matter some more before writing a final opinion.

For years a legal battle has ensued between Mrs. Thomas and Caliban's Belvedere, and just two months ago, Mrs. Thomas filed a writ against Belvedere chairman, Mr. Colin O'Connor.

Belvedere has argued that Mrs. Thomas was bound by an agreement to sell shares back to Caliban that she obtained in a Belvedere management buy out, once she left the company, three years ago this month. Also at issue is the value of those shares.

Nearly, two and a half years ago, the Supreme Court struck out her petition to wind up Caliban, Belvedere's parent, calling the petition "an abuse of process''.

Then Chief Justice, Sir James Astwood, in his June 4, 1993 judgment agreed with Belvedere that the true motive behind the (then) Ms Johnson's winding up petition was "to exert undue pressure on the company to have Belvedere settle or compromise the petitioner's claim against Belvedere''.