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Bank seeks $550,000 from former chief of Sphere Drake

(Bermuda) Ltd. has been hit by a $550,000 writ against him filed in Bermuda Supreme Court by the Bank of N.T. Butterfield and Son Ltd.

The bank refused to discuss the matter.

Mr. Crawley retired to France in 1996 after 17 years where he and his wife Caralie had planned to run his 250-acre Chateau de Brouquens, near Vic-Fezensac in Gascony in the southwest of France.

The bank has also filed a writ seeking about $58,000 from his wife.

At the time The Royal Gazette reported the cost of re-working the hotel is coming in above $3.2 million and funds were being raised to finance the project by the selling of individual or corporate passes that guarantees the holders, together with other privileges, week-long accommodation for 25 years.

The conditions pertaining to the "passport'' were drawn up by law firm Appleby, Spurling & Kempe. And $3.2-million worth of insurance had been bought to protect "passport'' holders in the event certain circumstances prevent the hotel from opening. The Bank of Butterfield was the hotel's banker.

Sphere Drake became Odyssey Re Bermuda after it was purchased by Toronto-based Fairfax Financial Holdings Ltd.