Four partners of a Bermuda law firm have been pulled into the Televest debacle as liquidators continue trying to gather assets to pay unhappy creditors.

TBL Ltd., one of the Televest companies now in liquidation, has filed a Supreme Court writ seeking $595,000 from Hallett Whitney & Patton partners Mr.

Ernest Morrison, Mr. Stephen P. Cook, Mr. John H. Cooper, and Mr. David G.

Cooper.

Mr. Morrison was the lawyer for the Televest Group, which included Televest Ltd., Telecheck Holdings Ltd., and TBL.

Built by Bermudians Thomas and Richard Burns over nine years, the Televest Group included credit cards, debt collection, and a popular cheque approval service for merchants.

Televest Ltd., the fund-raising arm, offered investors interest rates of seven to ten percent on purchases of preferred shares. After the companies collapsed in a chain reaction that began late in 1993, about 500 investors were left with claims of $8.3 million. To date, they have received nothing.

Lawyer Mr. Narinder Hargun, of Conyers, Dill & Pearman, confirmed yesterday that the writ was filed on behalf of TBL liquidators Mr. Charles Kempe, Jr.

and Mr. Gil Tucker of Kempe & Whittle.

The action against the law firm's partners was "arising out of their representation of TBL,'' Mr. Hargun said, adding that he could not comment further.

Mr. Morrison did not return a telephone call from The Royal Gazette . Ms Janice Burns, senior manager in Kempe & Whittle's special services group, said about $2.2 million in group assets are now in the bank. Money was still being collected on outstanding credit card debts, she said.

But claims totalled about $12 million, she said.

It had still not been determined how assets would be split among three groups -- overseas creditors who sparked the Televest collapse when they sought repayment of loans, investors who purchased preferred shares in Televest, and merchants and others owed funds through the Telecheck credit card and cheque guarantee scheme.

Once that is worked out, Kempe & Whittle will pay an interim dividend, said Ms Burns, adding that it was too soon to say how many cents on the dollar investors will receive.

"Various things are all progressing,'' Ms Burns said. "They're not progressing as fast as we would like.'' In February, Televest directors the Burns brothers and Mr. Christopher Donnachie were served with a $2-million Supreme Court writ as liquidators sought to recover monies borrowed from the company.

The directors obtained the funds mainly through cash advances on their Signature credit cards which were later converted to loans.

The amounts owed -- not including interest accruing since December 15, 1993 -- are $1,591,670 for Mr. Richard Burns, $253,961 for Mr. Thomas Burns, and $196,225 for Mr. Donnachie, Mr. Hargun said.

But liquidators contend the loans were made in contravention of the Companies Act, Mr. Hargun said. Therefore, the three directors have "joint and several liability,'' meaning each one is liable for the entire $2 million debt until it is paid.

If a judgment is obtained, the liquidators may proceed against any of the directors' assets, he said.

Mr. Julian Hall, lawyer for the Televest directors, has said they intend to pay what they owe, but would contest any claim that the monies are "presently due and payable.''