Services from Carolyn Hall.

Sen. Richards, who runs Bermuda Asset Management which is affiliated with INVESCO, said in a terse statement that the sale was made on Friday.

"The court proceedings initiated in the Supreme Court of Bermuda by Mr.

Richards have been settled and the company wishes Ms Hall success in her future endeavours,'' the statement said.

Sen. Richards could not be reached for further comment.

Sen. Richards was referring to an action he filed against Ms Hall, GulfStream Financial and the Runnymede Trust in Supreme Court under the Companies Act.

Usually such filings relate to petitions to liquidate a company due to unpaid debts.