timeshare complex has been seized by a bankruptcy administrator in Canada.

Last month, a Quebec Superior Court ordered the seizure of 56.5 percent of Trans-America Hospitality Corporation, which owns, leases or manages 32 hotels across Canada.

The temporary order was made to prevent the owner of the shares, Mr. Wolfgang Stolzenberg, from selling them.

It is not known how the seizure will affect, if at all, the proposed sale of the St. George's Club.

Mr. Stolzenberg is being sued for more than Cdn$25 million by Richter and Associes, which is handling the billion dollar bankruptcy of Castor Holdings Ltd.

Castor was a lending company headed by Mr. Stolzenberg which, among other things, lent around Cdn$200 million to the York-Hannover group -- the former owner of the St. George's Club.

Bankruptcy trustee Richter and Associes, of Canada, told the court that Mr.

Stolzenberg was trying to sell his interest in Trans-America through offshore companies.

The trustee won the right to seize all of Mr. Stolzenberg's personal property in Canada, including a mansion mortgaged for Cdn$1.7 million and three penthouses.

Mr. Stolzenberg is alleged to have made a gain of Cdn$14.25 million in November, 1991, by secretly selling 20 percent of Trans-America through several firms he owned personally.

In another transaction, the trustee alleged that the German-Canadian financier sold another 23.5 percent of the company for an unknown profit and kept the remaining 56.5 percent.

Mr. Stolzenberg's own companies had acquired the hotel firm after using a Cdn$1.5 million deposit from Castor in March, 1991, the trustee claimed.

Trans-America president Mr. Walter Prychidny was in Bermuda this week going through the Club's books, but a sale is not expected to be completed for at least six months.

Bermuda's Government, which must approve the deal, has said it will not act until it receives official notification of a sale.

Mr. Richard Kempe, for Price Waterhouse, receiver of the St. George's Club, said he knew nothing about the shareholding of Trans-America.