KPMG lawyer John Finnigan told a court hearing in Toronto last week that Manor proved to be "quite a loquacious fellow" - but evidently not on the subject of diamonds. When last heard of, the gems were in Hong Kong, where Manor's sister-in-law is under court pressure to reveal their whereabouts.

Back in Canada, the Ontario Securities Commission has successfully browbeaten 55 investment and mutual fund dealers into agreeing to repay investors all fees received from failed hedge fund Portus in connection with client referrals, totalling $12m. The payments will be made by 31st May.

But KPMG is not yet offering a time-horizon for payouts of the bulk of Portus's assets. The firm says that $662.15 million (Canadian) and about $37.2 million (US) have been found and secured in 130 Portus bank and investment accounts in Canada, the Turks and Caicos and the Cayman Islands, out of more than $800m that was collected by Portus. The majority of Portus assets remain tied up in notes issued by France's Société Générale which were purchased for $529m, and mature between 2008 and 2011.

Manor faces charges brought in Canada by the Ontario Securities Commission, which his Ontario lawyer says he will fight. Lawyer Brian Greenspan said: "He intends, obviously, to defend and respond to the charges and it's always been his intention to appear as required in answer to any charges that are brought against him."

The OSC says it is proceeding expeditiously with the administrative and court proceedings against Manor commenced in October last year. The RCMP is also investigating the affair and may stand a better chance of attacking Manor under Federal laws - but they were very slow to begin investigations and there has been no news about their progress.