Calban Holdings Ltd.

The liquidators of Belvedere Insurance have placed its holding company, Caliban Holdings Ltd., into provisional liquidation in a bid to recover up to $2.2 million that was dividended out of Belvedere in 1996.Although Malcolm Butterfield and Anthony McMahon are seeking to recover the full amount on behalf of Belvedere's creditors, they are particularly concerned about $663,000 of the dividend that was technically illegal under Bermuda law.