New Castle Market Neutral Offshore Fund Ltd. delisted from the Bermuda Stock Exchange (BSX), following a redemption of its shares, it was announced in a filing by the company yesterday.

In October 2009, two directors - John Eager and Robert Steinberg - resigned from the board of the fund, whose listing was suspended by the BSX after another board member was charged in an insider trading case.

Three days earlier, Mark Kurland, the co-founder of New Castle Funds LLC, and a fellow board member of the Bermuda-listed fund, was arrested.