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By Lilla Zuill |
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May 6, 2002 |
MRM assets frozen in legal challenge
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| Intro: |
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Legal action facing troubled Bermuda insurance
services firm Mutual Risk Management has resulted in a $3 million
asset freeze. The freeze on company assets resulted from legal
action reported on by The Royal Gazette last month when two of
Mutual Risk's (MRM) Bermuda-based subsidiaries – IPC Mutual Holdings
Ltd. and Mutual Indemnity Ltd. – faced legal proceedings by Franklin
Logistics Inc. |
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| Excerpt: |
More information on the action came to
light after a report in the latest issue of
InsideBermuda, a monthly web-based newsletter, which
reported that Franklin "resorted to legal proceedings after spending
approximately six months unsuccessfully trying to novate (or
transfer) its workers' compensation programme with the MRM group,"
it said. |
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