Shareholders give thumbs up to settlement
settlement agreement of $35 million.
In a special general meeting yesterday all, bar one shareholder, supported an agreement between BF&M and the liquidators and creditors of the Bermuda Fire and Marine Insurance Company Ltd.
More than 250 shareholders packed into the Fairmont Hamilton Princess to vote on whether to accept a deal which would ensure they would not lose their investment.
In the deal BF&M has accepted no wrongdoing in the matter and the liquidators are able to buy into the company in 2004.
The court is expected to dismiss the case and shares are expected to resume trading on the Bermuda Stock Exchange on Friday.
See Business on Page 25 SCHOOLBOYS TO BE SENTENCED TODAY CTS FIR Schoolboys to be sentenced today Three schoolboys who admitted to the Harrington Sound Primary School arson in February will be sentenced today in Juvenile Court.
Magistrate Carlisle Greaves last month told Crown counsel Patrick Doherty, and the boys' lawyers, Saul Froomkin, Delroy Duncan, and Mark Pettingill there would be no further delays in the case.
The case was originally set for trial for this week, but the boys' pleas were changed in October.
Then they pleaded guilty to setting fire on February 19 to paper in the school, knowing it was likely to catch fire.
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