Andersen Worldwide

Arthur Andersen (Bermuda) is being sued for damages over its work for a Bermuda registered telecommunications group which filed for bankruptcy in 2002.The Andersen group earned "millions of dollars in fees" from FLAG Telecom, including $1.35 million in 2000 alone,

Arthur Andersen's Bermuda registered captive, Professional Services Insurance Company Ltd., is seeking to enter into a Scheme of Arrangement with its creditors.An order was issued at Bermuda Supreme Court on November 14, 2002 granting the firm's application to meet with