MP moves to settle banruptcy dispute
soon be over.
Mr. Hall last night claimed he had arranged to make a payment to settle a major part of the dispute.
"I feel reasonably sure the matter can be resolved,'' he said.
The development came on a day when two more writs against the lawyer MP, totalling over $100,000, were entered in the Supreme Court register.
But Mr. Charles Vaucrosson, a former employer of Mr. Hall's, later stayed the proceedings.
Earlier this month, the bank filed a bankruptcy notice against the lawyer MP.
It claimed the Shadow Environment Minister owed more than $108,000 of a $200,000 loan.
Mr. Hall hit back by suing the bank for $510,000, saying it owed him money.
He declared he was the beneficial owner of 50,000 Cablevision shares, controlled by the bank, and got an injunction preventing it from selling the stock, which he estimated were worth between $250,000 and $500,000.
Last night Mr. Hall told The Royal Gazette : "I was today able to conclude a sale of my interest, whatever it's ultimately determined to be, in Bermuda Cablevision shares.
"Obviously in all the circumstances the price that I was able to secure was substantially lower, very heavily lower, than the actual market value.
"But at least it has enabled me to make a substantial payment arrangement with respect to the Bank of Butterfield.
"In those circumstances I feel reasonably confident that such issues between the Bank of Butterfield and I that can be resolved will be quickly resolved.
"There may be one or two other outstanding matters relating to my general claim which will have to be considered at a later date.
"Nevertheless, I feel reasonably sure that all other matters can be resolved very rapidly.'' Last night Mr. Michael J. Collier, chief general manager of the Bank of Butterfield, declined to comment.
He said the bank had received legal advice to make no further statement on the dispute.
One of the writs entered in the Supreme Court register by Mr. Vaucrosson's attorneys was for $74,181.61.
The other, for $39,302,63, was on behalf of Amulion Investment Ltd, Mr.
Vaucrosson's holding company, of which he is chairman and president.
Last night Mr. Vaucrosson said he had agreed to "stay'' proceedings -- which meant no documents would be served on Mr. Hall, at least for now.
Mr. Vaucrosson, a proprietor in a law firm in which Mr. Hall was once an attorney and legal assistant, said he was hopeful matters could be resolved without any adverse publicity.
Mr. Timothy Marshall, acting for Mr. Vaucrosson, yesterday declined to comment on the writs.