and a group of seven investors who made a gross loss of $2.8 million is over.

And the Bank issued a statement on Friday that it had won the case as well as costs against the investors' advisor Henry Fink.

The Royal Gazette was unable to contact Mr. Fink for his comment and the Bank was unable to provide a copy of the public judgment.

The Bank was suing Mr. Fink for a 400,000 guarantee.

He was the investment advisor of seven individual investors who lost a total of $2.8 million in a disastrous series of foreign exchange speculations in 1992.

And Mr. Fink was counter-suing to have the guarantee set aside -- alleging that the loss-making trades with the investors money were made by unnamed rogue traders at the Guernsey Branch.

The group of investors had pooled together about 1.5 million and deposited it into a fund to be managed by former banker Mr.

Fink.

Within several months, the account was $1.36 million in the red.

At the heart of the court case was the issue of whether the losses were the fault of Mr. Fink or the result of some unordered rogue trading by bank employees.

Mr. Fink's legal counsel Peter McMaster earlier told the English High Court that unknown employees of the Bank ignored Mr. Fink's advice and instead plunged into a series of loss-making foreign currency speculations.

He also said an internal bank report had concluded that incomplete information had been supplied to the Bank's credit committee on the matter, a "very serious matter''.

But according to the Bank's statement, the court found in its favour.

Bank of Bermuda president and CEO Henry Smith on Friday welcomed the victory.

"The Bank is satisfied with the favourable outcome of this case and is pleased that this long standing matter is now resolved,'' he said.

The Bank issued a statement that the trial had been brought to an end when "Mr. Fink consented to judgment being entered against him for the full amount claimed by the Bank''.

The Bank's statement said: "Accordingly, the trial judge, Mr. Justice Bell, ordered that there be judgment for the Bank against Mr. Fink in the sum of 400,000 pounds plus interest thereon in the sum of 80,218.05 pounds.

"And that the costs of the action be paid by Mr. Fink to the Bank and that Mr. Fink's counterclaim be dismissed.'' Henry Smith: Pleased COURTS CTS