steps to collect cash owed by a lengthy list of insurers.

It is just the latest move in a process that has spanned almost a decade and which could net a further $20 million-plus for creditors.

The historic Mentor liquidation is one of the largest in history, and may be the impetus for Government to seriously revise the laws on insolvency.

In a bid to extract another almost three quarters of a million dollars, by filing nine new Supreme Court writs against overseas insurers this week, the liquidators served notice that they still intend to hound down every cent they can, that is owed to the Mentor account.

The more than nine-year battle, may begin winding down next year. Staff at the Front Street offices will finally be reduced to a token size next month -- from 12 to three -- just one indicator that the brunt of the work has been done.

Writs were filed on Monday by law firm Appleby, Spurling & Kempe on behalf of joint liquidators, Mr. Charles W. Kempe, Ernst & Young partner in Bermuda, and Mr. Nigel Hamilton, Ernst & Young partner in the UK.

The writs claimed various amounts of money against insurers totaling $734,862.

19.

Mr. Kempe said of the legal action,"This is part of the continuing effort to bring in the final lot of assets to the company.

"And typically, as one might expect towards the winding up of a company, you have a number of recalcitrant debtors, for one reason or another, either because their ability to pay is impaired or their willingness to pay is not what it should be or they continue to ignore us.

"We have to take these steps to crystallise the position and make effective collection.

"I wouldn't want to call it a last-ditch effort to collect the money, because we would still have a few things in our arsenal. But we want to make it clear to people that we are not going to go away and allow their obligations to merely lapse. We intend to collect and we believe that they are perfectly capable of paying and we intend to enforce it.

"We are down to the stage where the committee (of creditors), together with ourselves as liquidators, believe that we have to finish this job and this needs to be done.

"We have a number more. We are taking several bites at the list. This is the first of probably several bites. It is a long list of debtors against whom action will be taken to enforce collection.'' Representatives of nine creditors of Mentor in October sanctioned the distribution of $150 million to the company's unsecured creditors.

It brought the total pay-out to date to $230.6 million, representing 55 cents on the dollar. And the liquidators, in declaring that another, final, pay-out will be realised, said there was finally an end in sight to the long-running liquidation.

They believe that another five cents on the dollar will be paid out, bringing the total up to 60 cents on the dollar, way above the 1985 estimate of 25 cents.

Nearly 1,000 creditors filed claims in the Mentor liquidation totaling $970 million. Rejections and reductions arising from adjudication procedures and the application of pre-liquidation security, the discounting of loss reserves and the set off amounts due to Mentor (in accordance with directions of the Supreme Court of Bermuda) reduced the amounts eligible to participate in distributions to approximately $419 million.

The joint liquidators have retained a reserve of $41.7 million to cover possible distributions in respect of appeals against their adjudications, as well as to pursue remaining reinsurance recoverables due to the estate.

They have used a scheme of arrangement to bring about an orderly disposal of Mentor's liabilities, what Mr. Kempe said earlier this year enabled "a far more expedient, less costly and less disorderly finishing of the whole thing.'' Costs and expenses of the liquidation have crept close to $75 million and continue to climb.

Mentor writ list The following is a list of the writs issued by Mentor liquidators on Monday, December 19: 463. Charles W. Kempe Jr. and Nigel J. Hamilton (joint liquidators of Mentor Insurance Ltd.) vs. Irema International Reassurance. $45,302.95. (AS&K) 464. Charles W. Kempe Jr. and Nigel J. Hamilton (joint liquidators of Mentor Insurance Ltd.) vs. Dominion Insurance (UK) Company Ltd. $72,521.51. (AS&K) 465. Charles W. Kempe Jr. & Nigel J. Hamilton (joint liquidators of Mentor Insurance Ltd.) vs. Dominion Insurance (UK) Co. Ltd., $17,585.68. (AS&K) 466. Charles W. Kempe Jr. and Nigel J. Hamilton (joint liquidators of Mentor Assurance Ltd.) vs. Folksam International Insur. Co. Ltd. $55,748.54. (AS&K) 467. Charles W. Kempe Jr. and Nigel J. Hamilton (joint liquidators of Mentor Assurance Ltd.) vs. North Atlantic Insurance Company Ltd. $103,460.03. (AS&K) 468. Charles W. Kempe Jr. and Nigel J. Hamilton (joint liquidators of Mentor Assurance Ltd.) vs. Resolute Reinsurance Company $124,478.13. (AS&K) 469. Charles W. Kempe Jr. and Nigel J. Hamilton (joint liquidators of Mentor Assurance Ltd.) vs. United India Insurance Company. $49,863.43. (AS&K) 470. Charles W. Kempe Jr. and Nigel J. Hamilton (joint liquidators of Mentor Assurance Ltd.) vs. The Summit Fidelity & Surety Company. $110,184.52. (AS&K) 471. Charles W. Kempe Jr. and Nigel J. Hamilton (joint liquidators of Mentor Assurance Ltd.) vs. Union insurance Company. $155,717.40. (AS&K) MR. CHARLES KEMPE -- Mentor liquidator.