Robin Potts

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    OBNR publisher almost imprisoned for refusing to reveal sources for stories

    For those who are not already aware from other media outlets, David Marchant, the publisher of this newsletter, came close to being imprisoned in Bermuda this month for refusing to reveal his sources for articles he had written about Bermuda Fire & Marine Insurance Company. Marchant was giving evidence during what is probably Bermuda's biggest ever civil trial in which some of the island's most prominent businessmen and companies are accused of defrauding creditors of BFMIC (in liquidation) of more than $50 million of assets.

    Insider Talking: June 30, 1999

    As I flew out of Bermuda on June 10 after narrowly surviving an attempt by Donald Lines' attorney, Robin Potts, to have me put in prison for contempt of court for refusing to reveal my sources in relation to articles I wrote about Bermuda Fire & Marine Insurance, who should I bump into on the flight to Atlanta but one of Donald's sons, Brian Lines, who is the President of Lines Overseas Management, which has been on the receiving end of several unflattering articles in this newsletter; Some of the UK's leading attorneys have made Bermuda their home for the next several months as they work on two of the biggest civil trials in the island's history: The Bermuda Fire & Marine Insurance Company case and a trust dispute involving the Thyssen-Bornemisza family, which has a $2.7 billion fortune; What was it like sitting in front of Britain's finest while they debated for two days whether to lock me up for seven days for contempt of court? Not much fun, I can tell you; The lengths that crooks will go to in order to lend credibility to their scams knows no shame; and Beleaguered Stirling Cooke Brown Holdings Ltd. is laying off staff in Bermuda and is in the process of moving its Bermuda-based broking activities to London, we have been told.

    Bermuda Fire & Marine Insurance trial set to start on May 4, 1999

    What is probably the most eagerly-awaited civil trial in Bermuda's history - involving the alleged $50 million asset-stripping of Bermuda Fire & Marine Insurance Company while it was known to be insolvent - is scheduled to start on May 4, 1999. The trial, in which some of the island's best-known businessmen and companies are defendants, is expected to last four months.