The case was first adjourned in December 1993, but no specific date was set for a rehearing, said Ernst & Young partner Mr. John McKenna. The long history of the company, and the need to coordinate with the UK has meant investigations into the company's affairs will be a protracted exercise.

Bermuda Fire & Marine became involved with insuring pollution and other high-risk international business on the London-based H.S. Weaver's stamp between 1968 and 1983.

It applied to be put into voluntary liquidation late least year.

"The courts are not adverse to granting adjournments until the investigation is complete,'' said Mr. McKenna.