collection and credit cards) February, 1989: Televest Ltd. incorporated with brothers Tom & Richard Burns at the helm. The company is part of the Telecheck group of companies and includes Telecheck Holdings Ltd. (THL), Televest, Telecheck Bermuda Ltd.(TBL), Commodity and International Investment Advisors Ltd.(CTRAK), and Compuguide Ltd.

January, 1990: Dominion Group (a UK conglomerate) placed in receivership.

December, 1993: Sarina Mutual, a subsidiary of the Dominion Group in liquidation sues TBL and CTRAK over $2 million. Sarina Mutual is found to be a majority shareholder in TBL and second largest in CTRAK.

December 15, 1993: Bermuda Supreme Court orders Telecheck companies liquidated. Stores stop honouring the more than 10,000 Signature Card and Travel Card credit cards. Telecheck stops approving cheques customers give to merchants.Televest stops accepting investments, paying dividends and redeeming shares.

December 17, 1993: Petition for winding-up of Compuguide.

December, 1993: Gregory Haycock appointed inspector into the failed Telecheck companies by the Government.

January 26, 1994: Telecheck directors Tom and Richard Burns and Christopher Donnachie, ordered to attend Supreme Court to answer questions on the collapse.

January 21, 1994: Angry shareholders meet at Number One Shed.

January 26, 1994: Julian Hall, lawyer for the directors, opposes their Supreme Court questioning.

February, 1994: A group of Televest investors band together and secure legal representation to demand they be refunded.

February 14, 1994: Hearing to determine the legality of the wind-up begins.

February 26, 1994: Supreme Court upholds the petition for winding-up but also finds that provisional liquidators of Televest must get other lawyers.

March 29, 1994: Winding-up of CTRAK,TBL and Compuguide granted.

April 4, 1994: Televest and Telecheck sue director Christopher Donnachie for $200,000.

April 26, 1994: Supreme Court rules liquidators do not have to make their fees public.

April 27, 1994: Televest and Telecheck directors drop bid to stop the wind-ups of the companies.

May 30,1994: Liquidators meet with creditors at Number One Shed and tell them they can expect to recoup between 21 and 37 cents on each dollar of their investment.

August 18, 1994: Liquidators sue Hardbodies Ltd., owners of the Athletic Club for $127,440.

October 24, 1994: Bermuda Credit Association reveals some Signature and Travel Card holders had begun to settle their debts under threat of being sued.

December, 1994: Richard Burns puts his luxury home Argyll on the market at $1.5 million.

February 1, 1995: Liquidators sue the 3 directors for $2,041,856.

May 25, 1995: Liquidators sue law firm partners Ernest Morrison, Stephen cook, John Cooper and David Cooper, for $595,000.

July 30, 1996: Liquidators announce intentions of first pay-out to creditors.

Two million dollars is pai dout by August 31, 1996.

August 7, 1997: Tom Burns dies at age 45 at King Edward VII Memorial Hospital.

June 25, 1999: Liquidators file notice of final dividend payment.

June 29, 1999: Liquidators reveal final dividend will be in the region of $910,000.

July 28, 2000: Liquidators file intention to apply for release.