Richard England is liquidator of Southern Equities Corporation Ltd, formerly the Bond Corporation. Craig Bond is one of a number of parties against which he has issued proceedings as part of a claim involving a number of oil paintings worth some £6 million. Alan Bond and John Bond are also parties to the proceedings.

"We are seeking return of the paintings or their value," Mr England said. "I have interviewed Craig Bond and he has given evidence in court in Western Australia, but I cannot disclose to you the details of what he said." Suzanne and Jody Bond are not parties to the proceedings.

The paintings left the country "under unusual circumstances" a few years prior to the collapse of the company. Mr England will not elaborate and will not say where the paintings are now. Craig Bond is defending the proceedings, which are expected to come to a conclusion later this year.

A number of other proceedings are in train arising from the Bond Corporation collapse. Mr England will not say if it is the case that Craig Bond has made a declaration of his assets to the Australian authorities. However, when asked about Mir Oil, he said: "There has never been any mention of oil and Siberia." He also said: "We are watching the proceedings in Ireland quite closely."

Kelvin Kenny is the Australian police officer in charge of the investigation into the full extent of Alan Bond's personal assets. Bond was declared bankrupt in 1992 and this was annulled in 1995. The trustee who operated during the period is alleging that Alan Bond did not disclose all his assets. The investigation is a worldwide one. Mr Kenny will not say if he has or has not spoken to Craig Bond, but adds: "Anyone close to Alan Bond we have spoken to or will speak to."

Again he is monitoring developments in Ireland. "We take an interest in the Irish case in so far as it impacts on our investigation. We will await the (inspector's) report and if it looks like it does impact on our case, we will become interested."

It was early in November of last year that Russian sources first told The Irish Times of a "Mr Bond" having appeared in Moscow. He was introduced to businessmen there connected with the Russian company, KMNGG.

KMNGG owns half the Siberian oil field in which Bula invested by transferring 101 million Bula shares to Mir. The introductions in Moscow were made by Jim Stanley, the former chairman of Bula who set up the Siberian deal in 1994/1995. At the time the deal was being agreed, Mr Stanley told his fellow directors in Bula that Mir Oil was owned by a South African businessman, Mr Charles Lloys Ellis. This has since been vehemently denied by Mr Lloys Ellis.

Neither Mr Bond nor Mr Stanley have sought to explain how this confusion arose. The scheduled appearance of Mr Bond in the Dublin High Court this week was intended to enable him to convince the court he was the beneficial owner of Mir Oil. The court has frozen trading in 74 million Bula shares held by Mir Oil as a result of the Siberian deal. (The other 27 million have already been sold.)

The court freeze on the shares will not be lifted until Bula is given satisfactory proof of who is the owner of Mir Oil. Yet it was counsel for Mir and Mr Bond who sought the adjournment of the case on Monday. No date for a future hearing was sought. Counsel for Mir Oil and Mr Bond said "practicalities" rather than any other reason lay behind the application. Mr Bond is understood to be in the Bahamas.

Craig Bond lives in Upp Hall, the Hertfordshire mansion bought when the Bond family's fortunes were brighter than they are now. It is understood the house belongs to a company controlled by his mother, Eileen Bond - who is now divorced from Alan Bond - and her daughter Suzanne. Craig Bond uses a British passport and travels extensively. A source who has met him describes him as small and talkative. "He struck me as an adventurer."

Mr Bond has not disclosed why he kept his involvement in Mir Oil secret, or why he chose to come forward in November of last year. Jim Stanley has not met with the inspector and has not chosen to explain when he first came into contact with Craig Bond or his understanding of the Australian's involvement with the Siberian deal he, Stanley, set up for Bula Resources. Observers will have to wait to see whether Mr Bond's arrival on the scene is a bizarre distraction or whether, in fact, he is a central figure in the whole mysterious affair.