A British-based Web site was last night reporting an end to the Thyssen case may be on the way.

The Guardian newspaper's Web site claims in an article that the multi-billion dollar law suit had a settlement in sight.

Bermudian sources, when contacted last night, were reluctant to confirm the rumours.

Controversy has surrounded the marathon litigation from the outset, however it reached its climax earlier this spring when, after years of legal argument and tens of millions of dollars in costs, UK judge Denis Mitchell abruptly quit the case. Mitchell's departure caused shock waves throughout the legal community, threatened to tarnish Bermuda's reputation as a first-rate legal jurisdiction and exposed the Island to a potential multi-million dollar lawsuit.