Chief Justice Richard Ground ended a case which has dragged through the courts for more than three years on Friday, when he ordered the winding up of Bermuda-based ferry and railway company operator Sea Containers Ltd.

The company, which at one time operated the British east coast train operator GNER, filed for bankruptcy in Bermuda and the US in October 2006.

Despite selling various businesses and assets, Sea Containers announced in early October 2006 that it was unlikely to be able to pay a $115 million bond due up that month.

Mr. Justice Ground also allowed a six-month extension until the first meeting of creditors.

In February last year, Sea Containers Ltd. transferred its maritime container interests to a new company and emerged from bankruptcy court in Delaware.

The new company, SeaCo Ltd., also based in Bermuda, borrowed $127 million from units of Belgium's Fortis Bank NV and Germany's DVB Bank AG to pay back loans taken for the court restructuring.

When Sea Containers filed for bankruptcy it planned to shed money-losing European ferry and rail operations in favour of its traditional business of providing shipping containers worldwide. With General Electric Capital Corp., SeaCo owns one half of a maritime leasing company, GE SeaCo, as well as a container fleet.

Shares of SeaCo, which trades on the Pink Sheets, were unchanged at $0.15 on Friday. The shares are down 6.25 percent this year.