David Dodwell, the newsletter Offshore Business has reported.

However Mr. Dodwell's lawyer Alan Dunch reported yesterday that the article was a resuscitation of a matter which has been ongoing since 1992.

The judgment was originally awarded in 1992 to Mr. Dodwell's former business partner in Windward Properties Ltd., Lee Koehler.

It was subsequently quashed by a lower court in Maryland and reinstated on August 4 by the United States Court of Appeals.

However Mr. Dodwell does not fall under the jurisdiction of any of the US courts involved and has neither tested or defended Mr. Koehler's allegations, Mr. Dunch said.

The pair owned equal half shares in the resort hotel operating company and a dispute arose from budget over-runs the company incurred in renovating a resort in Nevis that it had acquired.

Mr. Koehler filed his first complaint on October 21, 1992, alleging that Mr.

Dodwell caused the over-runs and concealed them.

Mr. Dodwell did not answer the claims and Mr. Koehler was granted the default judgment in the amount of $2,096,343 and for four years he tried to claim it.

However he has never filed a civil action in Bermuda which he would have to do -- and win -- if he wanted to collect.

Mr. Dunch noted: "If Mr. Koehler thinks he has a claim, he can come to Bermuda and commence proceedings in the Supreme Court and we will litigate.'' The decision was overturned when the court decided Mr. Koehler's complaint lacked diversity jurisdiction.

But the appeals court later agreed with Mr. Koehler's argument and reawarded the default judgment.

Mr. Dodwell last night said it was a long-standing issue but there was nothing new in the latest judgment.