First Ecommerce Data Services Ltd.

Eight days before it was due to make a minimum payment of $350,000 towards its 2002 purchase of an ecommerce company, a group controlled by Bermuda-based oil magnate John Deuss has sued the seller. Transworld Payment Solutions NV and First Curacao International Bank NV, which owns Bermuda Commercial Bank, filed a civil complaint at Bermuda Supreme Court on February 21, 2003.

Loss-making First Ecom.com Inc. announced on June 19, 2001 that it had acquired the 50 per cent of the shares of First Ecommerce Data Services Ltd. that it did not already own from the Bank of Bermuda for $4.25 million.