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Stavisky's assets frozen by court

attempt to rescind a Supreme Court order which placed his client's assets in Bermuda in receivership.

The receiving order, granted yesterday at 9.40 a.m. in Supreme Court by Puisne Judge, the Hon. Mr. Justice Ground, was done with the intent of preserve Stavisky's Bermuda assets for creditors in bankruptcy proceedings.

Stavisky, a director of the Hamiltonian timeshare complex, did not attend yesterday's proceedings nor was Mr. Julian Hall present to hear the order.

But he intends to apply to the court to have the order heard again.

Mr. Hall, noting he was absent from Supreme Court due to an "oversight'' said he planned to make the application first thing Monday morning.

"I've spoke to Mr. Stavisky to resolve the matter (and hope) to possibly set aside the resolution, to have it heard again'', with a view to preventing assets going into receivership, he said.

Mr. Hall said he believed his client intends to make good on the debt related to the Hamiltonian timeshare and condominium complex and services carried out by the firm on Stavisky's behalf.

The order was granted following an application by law firm Mello, Hollis, Jones & Martin, which claimed Stavisky had failed to pay legal fees of more than $11,000.

Mello, Hollis, Jones & Martin partner Mr. Andrew Martin, who appeared in Supreme Court yesterday, said it was now up to the official receiver -- either Registrar of Companies, Mr. Malcolm Butterfield, or an official appointed by him -- call a meeting of creditors.

The law firm is seeking unpaid legal fees estimated at $14,000 with principle of $11,044.50, Mr. Martin said.

If the matter goes to receivership, a receiver will convene a meeting of creditors, and "administer what estate or assets there are in this jurisdiction to satisfy the debts of the creditor or creditors'', said Mr.

Martin.

Stavisky was put on the Island's official "stop list'' last year by Minister of Labour and Home Affairs, the Hon. Irving Pearman but is allowed to enter Bermuda under certain circumstances under the auspices of the Ministry.

Mr. Pearman said yesterday Stavisky was given permission to come to Bermuda for a ten-day period earlier this month.

Mr. Hall said Stavisky had been in Bermuda earlier this month but has since left.

Last year, Stavisky was convicted in a Massachusetts court of embezzling $150,000 from investors in the Hamiltonian Hotel and Island Club timeshare and condominium complex.

Stavisky, who denied three larceny charges, received a two-year suspended jail term, and was fined $60,000 by a Massachusetts court.