Finance Minister Paula Cox was right to assist US tax authorities in investigations of Terry Coxon and the firm Passport Financial Incorporated, a Bermuda court has ruled.

Bermuda does provide such information to outside countries if a good case is made for the request. The Supreme Court has decided that Ms Cox had jurisdiction to handle a request by US tax authorities to seek information under the USA Bermuda Tax Convention Act about Mr. Coxon.

The court further accepted the Finance Minister had followed the procedure set out in the Act regarding Mr. Coxon and Passport Financial Incorporated, which was set up in 1993 in order to publish ?informational materials? on international investments.

The Supreme Court?s decision relates to an application by Mr. Coxon who sought an order of the court to quash the minister?s tax notices issued under the US-Bermuda Tax Convention Act 1986.

Mr. Coxon has 30 days to appeal the decision.