an "Unless'' order failed this month, plans to take his case to the European Commission on Human Rights.

The Law Lords of the Privy Council threw out an appeal by the one-time Bermuda insurance company boss and ordered him to pay the costs for the failed action.

The appeal was against orders issued by the Bermuda Supreme Court to restrict Mr. Hardy from access to certain assets and requiring him to disclose a complete list of all assets.

Challenging his appeal was the Bermuda firm of Coopers & Lybrand, the liquidators of Focus Insurance Company Ltd, and the liquidators' lawyers, Mello, Hollis, Jones & Martin.

The legal response before the Privy Council was led by Mr. Saul Froomkin QC.

Mr. Hardy, the former owner of defunct Bermuda-based Focus Insurance, was declared bankrupt in a British court and has been struck off the register of Chartered Accountants. He was accused of milking Focus of almost $20 million.

Mr. Hardy yesterday confirmed that he is working on papers that are being filed at the office of the European Commission on Human Rights.

He said: "Bermuda is a signatory to the European Convention on Human Rights.

I am asking that they give me an appeal to the European Court of Human Rights.

"This matter will go on. I think the court's decision is wrong. But it has clarified that there has been no hearing on the merits, merely that I'm to be punished for contempt of court.

"The Focus liquidators are applying to put their estate back on the (court) calendar, including my appeal of bankruptcy.

"A lot of decisions and judgments were stayed, pending the outcome of this Privy Council hearing. It isn't over by a long way, I assure you.'' In December, 1992, Mr. Hardy faced possible prison when he was declared in contempt by the Bermuda Supreme Court, after being found to be in breach of Mareva orders that restricted his access to certain assets and ordered him to disclose his full list of assets.

This month, the judgment by the Lords of the Judicial Committee of the Privy Council was delivered by Lord Jauncey of Tulichettle.

The case revolves around the attempt by the liquidators to recover US$19,714,142 from Focus.

Lawyers for the liquidators obtained a default judgment from the Chief Justice in the Bermuda Supreme Court against Mr. Hardy in January 1993 for the near $20 million.

Mr. Hardy argued before the Law Lords that his application before the Chief Justice to have the claim against him struck out included "facts'' that disproved the allegations in the pleadings.

Said Lord Jauncey: "The appellant appeared to have some difficulty in appreciating that a `striking out' application, save in circumstances which do not here arise, is concerned solely with pleadings and not with facts.

"When the pleadings are examined it is absolutely clear that they disclose a proper cause of action. They set out details of a large number of payments made by the appellant from Focus funds for which it is alleged there was no justification. These payments, taken together, add up to the sum which is claimed.''