International business can be reassured by one thing to come out of the furore surrounding the leaked police documents on the Bermuda Housing Corporation scandal investigation — that the legal right of appeal to the highest court in Britain still operates.

That is the view of Bermuda International Business Association (BIBA) chief executive officer Cheryl Packwood.

The Mid-Ocean News published extracts from the police documents in its June 1 edition which proved embarrassing to Premier Ewart Brown and former Health Minister Nelson Bascome.

Since then the Attorney General has tried to get a gag order slapped on the Island's media to prevent further publication from the files. But the Supreme Court ruled in favour of the media, as did the Court of Appeal.

The Attorney General has now won the right to take his appeal to the Privy Council in London.

"One of the reasons big businesses come to Bermuda is that we have the right to appeal to the Privy Council and this case shows that the process truly works," Ms Packwood said.

"It is a mark of political stability is that we can talk about our grievances, that we have a very good judicial system and that we have the right of appeal. The business world likes to see that the system is working."

She admitted that the arrest of Auditor General Larry Dennis in connection with the leaking of the documents "did not look good", but said it had shown that "no-one is above the law".

Ms Packwood, whose work includes selling the Island overseas as a jurisdiction, said she had received no inquiries from international contacts about the stability of the Island as a result of the controversy.

"Bermuda has a blue-chip reputation," she said. "There are a lot of competitors out there, but there is a great deal of interest on Bermuda which has proved itself as a jurisdiction with a good housekeeping seal of approval.

"We have to overcome a lot of misinformation out there about things like the cost of doing business in Bermuda, the slowness of registration and needing to have a Bermudian director, which is not the case as long you are administrated locally."

Next week, Ms Packwood and BIBA will represent the Island at the Fund Forum conference in Monaco. In September, BIBA will stage a round-table event in New York, featuring six panels, and also a panel in Greenwich, Connecticut, aimed at attracting hedge funds, of which there are a large number in that area.