insurance company for almost a half a million dollars.

More than nine years into the precedent-setting Mentor liquidation in which they believe that they can return 60 cents on the dollar to creditors, the liquidators took legal action again Monday.

Mr. Charles W. Kempe of Kempe & Whittle/Ernst & Young in Bermuda and Mr. Nigel Hamilton of Ernst & Young in the UK filed action against the 1792 Insurance Company and the 1792 Syndicate for $439,754.46. They are represented by Appleby, Spurling & Kempe.

It is the latest in a fresh round of writs issued by the liquidators since they were authorised by creditors to pay out a second sum of money.

Over the nine years, creditors have been paid a total of $230.6 million, representing $0.55 on the dollar and liquidators believe that their pursuit of the remaining reinsurance recoverables may net another $25 million.

Last October, in announcing the distribution of the last $150 million, Mr.

Kempe said, "Over the last nine years, we have established a very good relationship with Mentor's major reinsurers and have negotiated substantial commutations in that period.

"There remain a number a number of reinsurers, however, which appear to believe that the size of their debt, their geographic location or their general recalcitrance will allow them to avoid their obligations.'' Mr. Kempe said that the committee of creditors has given a strong message to the liquidators to pursue such reinsurers most aggressively.